WORLD ACCEPTANCE CORP

WORLD ACCEPTANCE CORP is one of the nation's largest small-loan consumer finance companies, providing short-term small installment loans, medium-term larger installment loans, and related credit insurance and ancillary products and services to individuals. The company has been continuously operating since July 1962. Its primary offering includes traditional installment loans, typically ranging from $400 to $5,300, with the average loan origination in fiscal 2026 being $2,015. As of March 31, 2026, WORLD ACCEPTANCE CORP operates 1,009 branches across 16 states: Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Utah, and Wisconsin. The company primarily serves individuals who have limited access to other consumer credit sources, such as banks, credit unions, other consumer finance businesses, and credit card lenders. In addition to its lending services, WORLD ACCEPTANCE CORP also offers income tax return preparation services to both its loan customers and other individuals. The traditional installment loan industry, where the company operates, is a highly fragmented segment of the consumer lending industry. Installment loan finance companies generally provide loans of less than $2,000 with maturities under 18 months, approving loans based on personal creditworthiness and maintaining close contact with borrowers. This contrasts with commercial banks and credit unions, which typically offer larger loans (over $5,000) with longer maturities (greater than one year), often requiring collateral or imposing stricter credit requirements, leading to lower interest rates and delinquency rates. Traditional installment loan companies, including WORLD ACCEPTANCE CORP, generally charge higher interest rates and fees to offset the increased risk of delinquencies and charge-offs, as well as higher loan administration and collection costs.