Small Dollar Loans: Survey Results & Tale of the Tape

J.P. Morgan conducted a proprietary Small Dollar Loan (SDL) survey of 3,009 U.S. adults in July 2026 to better understand adoption and usage of small dollar loans offered by fintech mobile apps. 57% of respondents were aware of a small dollar loan product and 25% had accessed one in the last six months; among those aware, 37% had accessed one. Users skew middle-income ($50K-$100K) and younger (26-45), access a small dollar loan 1-2 times per month, and typically use proceeds for everyday essentials and non-discretionary purchases. Provider "stacking" is common, with the average user having accessed 2.5 providers over the last six months and 85% stacking at least occasionally. Large loan limits and high/reliable approvals are the greatest drivers of brand preference, while lower limits and infrequent approvals drive churn;