So their TV ads are of questionable honesty, or they are trying...

So their TV ads are of questionable honesty, or they are trying to but failing to attract safe, prime borrowers. I had assumed there was some sort of technology behind it automating the approval process but it appears to be far less sophisticated.

These posts by all of the above posters have really highlighted that there is really nothing to this business. I share Pikel's concern that this isn't scaleable at all. How many more businesses are there that would borrow at that rate and be able to pay back the loan?