Slightly below 22% associated with sample (n=62) had a brief history of short-term loan borrowing (had ever endured a loan that is short-term of kind). Just 8 individuals (2.7percent regarding the sample) had a present loan that is short-term plus the typical balance on those present loans had been $2900. The most frequent uses of short-term loans had been spending money on important cost of living like meals, housing, and resources (see dining dining Table 2 ). Just three demographic faculties differed considerably between individuals with a brief reputation for short-term loans and people without: age, welfare receipt, and battle. Individuals with a reputation for short-term borrowing had been older (suggest age 37 vs. 30), more prone to get general public help or welfare advantages, and much more expected to report their battle as Ebony or African United states, or as several Race.
Dining Dining Table 2
Uses of short-term loans.
|utilize Category||per cent (Frequency)|
|private products||38% (23)|
|health expenses||15% (9)|
|kid or expenses that are dependent% (8)|
dining Table 3 as a whole the sample that is overall quite healthier.