Question-and-Answer Session
Operator
At this time, the participants will now answer questions from the caller. I would like to reiterate that my earlier comments regarding forward-looking statements apply to both the participants prepared remarks and to do anything that may come up during the Q&A. (Operator Instructions) Your first question comes from the line of Dennis Telzrow – Stephens Inc.
Dennis Telzrow – Stephens Inc.
Couple questions, which I’m sure you probably expect, or actually one on? You mentioned your income levels are actually higher on applications, how much of that doe you think is driven by some of these customers who are being pushed down a category versus just your advertising? Guess some people would be surprised at that trend.
Hank Henderson
I think it’s a blend of a couple of things. I think we are anecdotally for managers I’m hearing about certain customers that they’re seeing that are higher than typical income levels, but I think the shift is also in that we’re being a little bit more disciplined and we’re probably having a few more turn downs on the folks with the lower income levels and I think a few of those turn downs also bring that average up overall, so I think it’s a combination of the two.
Dennis Telzrow – Stephens Inc.
You mentioned that June was a little slower than April or May, but my sense is it’s a still a decent month. Obviously, you probably borrowed some sales with those promotions.
Hank Henderson
You’re exactly correct, and that’s the term we’ve used our-self. We were very aggressive in April and May through our promotion and so, yeah, we went ahead and I’m sure we sold some in May that would’ve spread over to June, so you’re on target there.
Dennis Telzrow – Stephens Inc.
Last question, I’m sure the loss rate issue is a big sort of going forward, but is my? Would I be correct in assuming that you think sort of 22 plus or minus 100 basis points would be reasonable expectations for this year or what do you guys thinking?
Jeffrey Williams
Yeah, plus or minus, that’s a pretty good range.
Operator
Your next question comes from the line of Bill Armstrong – C.L. King & Associates.
Bill Armstrong – C.L. King & Associates
So just to clarify then, the stimulus promotion that you did, that was in April and May and it ended, what at like around Memorial Day?
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