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Pay day loans in Mississippi. Mississippi has among the greatest concentrations of licensed payday loan providers in the U.S

Pay day loans in Mississippi. Mississippi has among the greatest concentrations of licensed payday loan providers in the U.S

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With a median household earnings of just $44,717, Mississippi is well underneath the nationwide average of $61,937. Not just could be the median home earnings among the cheapest into the country, Mississippi also had the greatest price of individuals residing underneath the poverty line in 2019: 19.7percent.

Payday advances in Mississippi

The dining dining dining dining table below shows the 15 counties in Mississippi because of the greatest levels of payday loan providers:

County

Populace per Licensee*

Loan Volume**

Total Costs Paid***

*2000 Census information.

**This is believed by multiplying the amount of licensees because of the nationwide median loan size ($350) by the national normal loans per shop (3,643). (more…)