You are viewing a single comment's thread from:
RE: Micro lending sites - Kiva.org - the discerning lender perspective.
These fuckers are criminals at 50% APR! Like all lenders they rely on people with low credit ratings so they can charge more interest to mitigate the risk.
I applied for a loan with Zopa, they offered me a rate of 7%, I went back and adjusted my income at 5k more and the interest was then slashed to 3%!
The rich always get the best rates or even free banking...
Makes sense though. Default rate on debt must be very high.