In a new report, Southern Bancorp Community Partners investigates the impact of the 2009 Arkansas interest rate cap that effectively ended the storefront payday lending business in the state. In a survey of former payday borrowers, 59% of respondents felt their lives had improved since payday lending was banned. Without access to payday loans, respondents adapted with a variety of alternatives including working longer hours, getting loans from friends or banks and using credit cards to meet their financial needs. The survey also revealed an interesting rift between financial decisions borrowers believe are advisable and those they actually use. For instance, while only three survey respondents said they would recommend using a pawn shop, 19 had done so.