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The average loan size is just under $10 million.
Ms. Mills suggested in the conference call that the higher loan limits did not really affect the average loan size.
Borrowers take out eight payday loans a year, spending about $520 on interest with an average loan size of $375.
The average loan size was £113,400 in May compared with £110,000 in April and £105,000 a year previously.
The average loan size increased to £142,200 in November, a rise of 21.8% compared with the same month last year.
In fact, across all traditional 7(a) loans (excluding smaller Express loans), the average loan size nearly doubled, to $624,000.
Similar(35)
"You have to look at what their model is, and what their average loan sizes are".
Average loan sizes vary from $100 in India to $1,530 in Bolivia.
It's also growing average loan sizes, which are currently between €800 and €1,500, versus the microloands of €200-€400 that were its initial mainstay.
Average loan sizes for Lending Club and Zopa are not microfinance size either, being around US$2-3k2-3k
Average loan sizes are $130,000 but the max loan amount is $500,000, payable over 1 to 5 years, at rates from 5.9percentt up to 20.9percentt depending on payback terms and risks.
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