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A comment on Does ‘microlending’ actually fight poverty?. Parent comment
Thats certainly a large part of it, but there are two other things that tend to help out:
1) If one person can't pay back, the rest of the group helps.
2) The promise of bigger loans in the future.
I agree with you about the interest rates.
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Thats certainly a large part of it, but there are two other things that tend to help out:
1) If one person can't pay back, the rest of the group helps.
2) The promise of bigger loans in the future.
I agree with you about the interest rates.