Can you seriously not see how tremendously high the default rate would be on a loan to someone who can’t wait the few days until their next payday? Or how high

Can you seriously not see how tremendously high the default rate would be on a loan to someone who can’t wait the few days until their next payday? Or how high it would be if they’re using that loan to pay off another payday loan? If you could provide those loans for cheaper, there would be competitors hoovering up the free money.