Ad Majorem.....Wealth Builders
The microfinance lending rates are not cheap. The lending practice started by Mohammad Yunus in Bangladesh, must have their origins in India - the Bombay lenders. A Japanese ADB employee computed to me that the effective rate of a 90 day Bombay loan, paid daily is about l200 per cent. There is no way that a borrower can get of poverty.
The 20% rate for 3 months of microfinance would be l20 % in one year. This is to cover the huge expense for collecting and servicing the loan and risk of non repayment.
We at majorem charge only l8% per annum or l.5% per annum. Well Majorem Lending loans are secured. It is because is against memorial park lots.
Low interest loan is a great resource for wealth builder
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