2 ms·
> Did you see the interest rates cited in the article? Yes. Did you? article: Branch charges between 6% and 12% interest—based on the borrower’s creditworthin
by dlss 11y ago
> Did you see the interest rates cited in the article?
Yes. Did you?
article: Branch charges between 6% and 12% interest—based on the borrower’s creditworthiness—and loans are usually repaid between three weeks and six months later... Traditional microlending tends to be far more expensive—interest rates often exceed 25%
So we're talking somewhere between 13% and 19% less interest (a 52% - 76% decrease in interest rate)... which sounds like a large improvement, though I agree it would be nice to see more discussion re: transaction fees.
What am I missing?