That's breaking even at a ~5.83% default rate, which is still unrealistically low. If they have a default rate of 20%, they'd need at least 240% APR to break even (assuming 1 month loans).
Granted, it could be right at an invisible tipping point, but let's be honest.
Yes? That's like a month's food for some folks.
(it was rice, beans, and whole frozen chickens + volunteering at a homeless shelter which bought 1.5 meals a day)