Hi, I’m yizhe, a mutual gold PM, trying to write a series of cash loans to describe this business from the perspectives of products, operations, data, etc. It can also be regarded as a staged summary and self-examination. There will be a lot of insufficiency and lack of in-depth writing, plus the first time to write an article. Welcome to pay attention to my public phone number list account for corrections and exchanges.
A series of nine articles are planned: industry overview, front-end APP, back-end system, capital/payment, traffic operation, data, risk control strategy, profit model, and others.
Without further ado, let’s start with the first article in the series. This article briefly introduces the industry overview of cash loans.
1. What is a cash loan?
Cash loan, short for petty cash loan business, is a loan business that directly distributes cash to borrowers.
Narrow cash loan mainly refers to loan products similar to Payday loan in the United States. This type of product has the characteristics of small amount, short-term and high interest rate. The general product quota is 500-5000 yuan and the period is 7-30 days.