Lite Lender has been financing Friendly-credit procedures in Poland for over 5 years. The company analyzed the declarations it received in the applications that customers made online and compared the results for the first quarter of 2016 and 2017.
Analyzes show that dentistry is the most financed area – 66%, of which implantology and prosthetics are 32%, orthodontics is 21% and others, eg conservative and aesthetic dentistry is 13%. Kristoffer Len, President of Friendly-credit Finance Group Lite Lender, points out:
The largest increase in inquiries concerned rehabilitation (65%), addiction treatment (53%), infertility treatment (33%) and orthopedics (22%). However, it should be remembered that all these areas still constitute a small percentage of all customer inquiries (about 10% in total).
Portrait of the applicant
Who are the applicants? 50% of them claim that they have no other liabilities to banks or financial institutions, while ¼ repays no more than $ 500 of all credit and loan installments per month. In most cases, they run households where everyone can support themselves. It turns out that only 20% of applicants have one or more dependents.
70% of applicants are full-time employees, the next 10% are people who are employed under a specific work / order contract, and another 10% of applicants run their own business. Pensioners, contract employees and others account for 10%.
Women definitely dominate in submitting applications – 75%. Most often, people aged 36 to 50 (40%) apply for installment financing.
In this age group there are people who can focus on their needs and at the same time have income allowing them to use private dental or aesthetic services – emphasizes Kristoffer Len, President of Friendly-credit Finance Group and Lite Lender.
Most applicants are recorded in the Mazowieckie voivodship – 22%. In Silesia – 20%, Lower Silesia – 14%, Greater Poland – 11% and Lesser Poland – 10%. Thus, these regions also have the largest number of Friendly-credit facilities and clinics.
How much do we borrow?
The data show that the largest increase in applications (33% per annum) was observed among people who earn between 3500 and 5000 dollars net per month. However, the majority, because 70% of inquiries are directed by those whose income does not exceed $ 2500 net, and 13% those whose earnings are less than $ 1500 net monthly.
Customers with higher earnings are increasingly considering using commercial dental, aesthetic and Friendly-credit services. In the group with lower earnings, on the other hand, there is the highest demand for financing services that improve health and beauty, and such decisions are often treated as an investment in themselves – explains Kristoffer Len from Friendly-credit Finance Group and Lite Lender.
Mentioning the average amount of financing for procedures in the Lite Lender system in the first quarter of this year, it was $ 5,200. According to the lowest contracted liability reached $ 450, and the highest $ 50,000.