tag:blogger.com,1999:blog-6178547344217818498.post1054588475283021603..comments2023-11-26T16:59:51.483-08:00Comments on Prosper Lending Review: Grameen America sees excellent return on investment and paves the way for immigrant family businessesUnknownnoreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6178547344217818498.post-65714376108780364322009-01-19T09:09:00.000-08:002009-01-19T09:09:00.000-08:00Thanks for the information on the rates and loan r...Thanks for the information on the rates and loan repayment schedule. <BR/><BR/>What is your source? Do you work for Grameen?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-60412200441675226402009-01-19T09:04:00.000-08:002009-01-19T09:04:00.000-08:00Actually Tom, Grameen loans are typically repayabl...Actually Tom, Grameen loans are typically repayable starting a few weeks after borrowing in relatively small weekly installments. Establishing a regular and frequent repayment schedule, in amounts small enough to prevent borrowers from being overwhelmed is one of the hallmarks of the Grameen model. <BR/><BR/>Interest rates under the Grameen model are traditionally flat (i.e. 10%), which stemmed from the lack of literacy of the bank's borrowers in some areas. Grameen America may have a different approach, but generally this is how things work under "Grameen II" (Yunus's revised microlending scheme).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-68277558866778029882009-01-19T08:18:00.000-08:002009-01-19T08:18:00.000-08:00One of the most fascinating books I've read is Ban...One of the most fascinating books I've read is Banker to the Poor about Grameen's origins. Mircolending is such an incredibly powerful tool to help the impoverished.erin sheelyhttps://www.blogger.com/profile/03014316409654746763noreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-19259836083272730552009-01-19T08:12:00.000-08:002009-01-19T08:12:00.000-08:00I also looked for stats on what is the average loa...I also looked for stats on what is the average loan default rate for various mainstream loans in the United States. Unfortunately, the only information I could find was on Student Loans and several years old. My guess is that 99.5% of mortgages and 99.5% of credit cards aren't paid back in full. I'll bet there's an even higher level of default for small business loans, just based on the number of small businesses that fail.JessicaWhttps://www.blogger.com/profile/06611691212945188227noreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-32878607722741726062009-01-18T21:48:00.000-08:002009-01-18T21:48:00.000-08:00I'm trying to find the article in the Washington P...I'm trying to find the article in the Washington Post that I read this weekend that recounted the bad loans and crazy borrowing that has crippled our economy. I wish I could find it. The responsibility of these micro-lendee's stands in stark contrast to the short sighted lending and borrowing that we usually are reading about in the news.Clinthttps://www.blogger.com/profile/13779181452449517149noreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-31590112909173150182009-01-18T21:08:00.000-08:002009-01-18T21:08:00.000-08:00It is great to hear those kinds of stories during ...It is great to hear those kinds of stories during the credit crunch when people without assets wouldn't be able to go to a traditional bank.Matthttps://www.blogger.com/profile/04173168939647498585noreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-85394499857480539582009-01-18T19:39:00.000-08:002009-01-18T19:39:00.000-08:00I also wonder what interest rate they charge.I also wonder what interest rate they charge.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-81331639910340650772009-01-18T19:29:00.000-08:002009-01-18T19:29:00.000-08:00This is exciting news. I'm glad to see Grameen fi...This is exciting news. I'm glad to see Grameen finally move to the US. <BR/><BR/>I'm impressed to see a "99.5% loan repayment rate." I wonder how this is calculated. Most of the loans probably are not old enough yet to determine if the borrower will repay.<BR/><BR/>The <A HREF="http://www.grameenamerica.com/Get-Involved/Borrow.html" REL="nofollow">borrower page</A> has a lot of interesting information but nothing about the loan term or specifics on repayment.<BR/><BR/>Great article Jessica - thanks for joining our blog team! I look forward to your future posts.Anonymousnoreply@blogger.com