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I thought the point of Yunus's book/movement was that microloans were safe because people, on the whole, DID pay back the loans?
by JBlue42 9y ago
I thought the point of Yunus's book/movement was that microloans were safe because people, on the whole, DID pay back the loans?
- jriot 9y agoIf I remember correctly it was set up in Bangladesh. You are correct people did pay back the loans but it required much higher interest rates e.g., 60%, due to small size of the loans and having to factor in those who wouldn't pay back.