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Microcredit: A Very Novel Idea I'd Like To See Replace Payday Loans

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Microcredit: A Very Novel Idea I'd Like To See Replace Payday Loans


Associated Press
Nobel Laureate Slams Loans
By VIJAY JOSHI 08.14.07, 10:58 AM ET

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Yunus won the 2006 Nobel Peace Prize for his efforts to help millions break the poverty cycle.

Grameen Bank has a very low default rate because of its flexible terms: No collateral or guarantee is necessary; borrowers can repay in weekly or monthly installments; and there is no threat of legal action against borrowers who do not repay the loans.
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Message Edited by Noah_Bodie on 08-23-2007 04:33 PM
Message 1 of 1
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