While some payday lenders have struggled to deal with caps on their charges and other restrictions that took effect last year, Money3 has gone from strength to strength. Yesterday, the company reported big increases in revenue and the value of its loan book, as well as profit growth of more than 90 per cent.Money3 made a net profit of A$3.1 million for the six months to December - an increase of 93.8 per cent over the previous corresponding period. Revenue rose 85.6 per cent to $19.3 million.The company has two divisions - secured and unsecured lending. Unsecured loans are between $1000 and $5000 offered for short terms. The value of unsecured loans grew from $10.2 million to $22.3 million in the six months to December.Secured loans are between $2000 and $40,000 and are used to purchase an asset (usually a car). The value of secured loans grew from $21.9 million to $32.7 million in the six months to December. Last year, Money3 bought the assets of another payday lender, Cash Store, from its administrator. It rebranded 33 Cash Store branches last September, taking its network to 70 branches.The company also had a successful share placement last year, raising equity capital of $11.9 million, which has allowed it to pursue lending growth.Last year, the company commented on the impact of new payday lending regulations, saying: "The regulatory implementation saw no negative impact on our volume of sales in any segment, as the requirement for bank statements and restricting customer payments to suit the customer's cash flow has always been common practice at Money 3."In the industry we are seeing a number of competitors struggling with the new requirements and this is presenting Money3 with opportunities to expand."The rapid growth of the business has come at some cost. The bad debt charge for the half was $2.7 million, compared with $1.1 million in the previous corresponding period. The bad debt charge represents 4.9 per cent of outstanding loans - about 15 times what big bank lenders are currently reporting.