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    Consumer Lending Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 4/5/2021
    SIC Codes: 6141
    NAICS Codes: 522291
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Consumer Lending Industry Profile

    Companies in this industry make unsecured cash loans to consumers. Major companies include US-based DFC Global (doing business as Money Mart Financial Services), EZCORP, FirstCash, OneMain Financial, and Sallie Mae, along with Orient Corporation (Japan), Provident Financial and Tesco Bank (both based in the UK).

    Global household debt topped $47 trillion in 2020, more than $12 trillion higher than in the run-up to the 2008 global financial crisis, according to the Institute for International Finance's Global Debt Monitor. In the US, total consumer debt (personal debt owed by an individual to another entity) approached $4.2 trillion in January 2020, according to the Federal Reserve. Consumer lending companies generally do business locally or within their country of origin, but globalization and greater access to the internet are spurring companies to pursue international growth.

    The US consumer lending industry consists of more than 14,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $36.5 billion.

    COMPETITIVE LANDSCAPE

    Demand is driven by consumer income and demographics. The profitability of individual companies depends on the correct assessment of repayment likelihood and effective collections activities. Large companies enjoy economies of scale in securing access to capital. Small companies can compete effectively by choosing favorable locations or targeting niche markets. The US industry is highly concentrated: the 50 largest companies account for about 85% of revenue.

    The federal financial reform law passed in 2010 created ...

     
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