We're going to publish our credit statistics up to the web site - live. That's a few weeks away, so in the meantime here are some early platform statistics. We have approved 21% of all applications. We wont do "scorched-earth" direct marketing, so we think we can improve our approval rate further. Almost 90% of the book so far is A or B risk-grade. The weighted-average personal income is $87,000 and the average loan size is $16,000. The median borrower is 33 with 33% being female and 67% male. As at 9th December we have approved $725,000 of lending with $592,880 drawn down.
| Risk Grade | No. of Loans | % of Loans | Value Loans | % of Book | ||
| A | 10 | 27.0% | 132,500 | 22.3% | ||
| B | 23 | 62.2% | 368,249 | 62.1% | ||
| C | 2 | 5.4% | 79,750 | 13.5% | ||
| D | 2 | 5.4% | 12,381 | 2.1% | ||
| TOTAL | 37 | 100% | 592,880 | 100% |
46% of borrowers own their own home. That doesn't mean we've used it as security. We only take security where loans are over $30,000. The largest loan so far is $60,500 which was secured over a car. Refinances and debt consolidation make up 42% of the loan book. The next biggest category is car loans (which are all private sales.) Only one of the motor vehicle loans is secured, the rest were under $30,000. Almost half of borrowers have opted for a 5 year loan term. Borrower interest rates currently range from 10.64% to 15.90%. That's based on investor rates currently between 8.00% and 9.00%.