New Loans over Weekends
October 21st, 2024
This past weekend (19 Oct 2024), while the banks and markets were closed, $ 39m were disbursed in new loans to 744 wallets.
On average, 30% of all new loans are created and disbursed over weekends i.e. between 17:00 on Fridays and 09:00 on Mondays.
Over the past 6 weeks, nearly $ 1bn in new loans were issued of which $ 280m were processed over weekends.
These figures underscore a significant contrast with Traditional Finance, where weekend loan issuance, finalization, or disbursement is rare unless a customer has been pre-qualified by their bank.
While retailers do issue credit over weekends during trading hours, the mechanics of retail credit differ markedly from loan disbursements.
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