Description

Personal lenders must adapt to meet the changing preferences of borrowers while navigating an increasingly competitive landscape.

Amr Hamdi, Finance Analyst

Table of Contents

    • Key issues covered in this Report
  1. Executive Summary

    • Consumer trends: key takeaways
    • Graph 1: types of personal lenders Hispanic consumers use, 2024
    • Graph 2: reasons for opening a personal loan, by financial situation, 2024
    • Graph 3: top factors when choosing a personal loan – NET – any rank , by generation, 2024
    • Opportunities
  2. Market Dynamics

    • Market context
    • Market drivers
    • Market landscape
    • Graph 4: total loan debt, by type, 2019-23
    • Graph 5: number of loan accounts, by type, 2019-23
    • Graph 6: percent of balance 90+ days delinquent on loans, by type, 2019-23
  3. Consumer Insights

    • Consumer fast facts
    • Personal loan ownership and interest
    • Graph 7: types of debt owned, 2022 and 2024
    • Graph 8: types of personal lenders used over time, 2022 and 2024
    • Graph 9: types of debt owned, by race and ethnicity, 2024
    • Reasons for opening a personal loan
    • Graph 10: reasons for opening a personal loan, 2024
    • Graph 11: reasons for opening a personal loan, 2024
    • Personal loan plans
    • Graph 12: % of consumers that plan on applying for a personal within the next 12 months, by generation, 2024
    • Graph 13: % of consumers that plan on applying for a personal within the next 12 months, by household income, 2024
    • Factors when choosing a personal loan
    • Graph 14: top factors when choosing a personal loan, 2024
    • Graph 15: top factors when choosing a personal loan – NET – any rank, by age, 2024
    • Personal loan behaviors and attitudes
    • Graph 16: personal loan behaviors over time, 2022 and 2024
    • Graph 17: personal loan behaviors over time, 2022 and 2024
    • Graph 18: personal loan behaviors, by financial situation, 2024
    • Graph 19: personal loan behaviors, by parental status, 2024
    • Graph 20: refinancing attitudes, by generation, 2024
    • Graph 21: openness to non-traditional lenders, by race and ethnicity, 2024
    • Graph 22: attitudes towards lenders, by generation, 2024
  4. Innovation and Marketing Trends

    • Marketing and advertising
    • Graph 23: types of personal lenders used, by generation, 2024
  5. Appendix

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