Covid financial crunch hits easy loans
- The demand for consumer loans to fund lifestyle expenses has certainly fallen for now but easy loans and lending platforms may survive in the long term
- Though demand for loans taken for discretionary spending has taken a hit, that’s not the case with all types of loans
Over the past few years, many people, especially millennials, have embraced the idea of easy credit. Whether it was the frequent swiping of a credit card or using a lending app to get a quick loan to buy the latest smartphone, borrowing had become extremely easy and accessible.
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