Bad Debts

I've very little experience in the micro-lending sector but i wanted to ask investors on Hot Copper what their opinions are on Money3's bad debt levels. I'm interested in investing in the company and am doing a comparison of bad debt levels between Money3 and Cash converters (similar sort of company). Money3's bad debt levels are around 13% of revenue leading into the close of FY14. In comparison, Cash Converters bad debts are around 5.3%, substantially lower.

In the investor presentation, it was outlined that as their branch network expands, they would expect bad debts to be approximately 10% higher than their targeted bad debt levels of between 10-15%. I can only assume that the company is insisting that they would forecast bad debt levels in this current expansion phase to be around 20-25%?

Lastly, would anyone happen to know the average interest rate being charged by the company? If bad debts are around 10-15%, then i would assume that in order to break even on your loans, the interest rates charged would need to be at least 15%, anything up from that would be considered as earnings.