Microfinance’s Latest Challenge: Cutting Back on Over-indebtedness Among Its Poorest Clients
Long before “99%” became a symbol of Occupy Wall Street, the microfinance industry used the number to describe the share of its clients — poor entrepreneurs shunned by traditional banks — who repaid their micro-loans on time. It’s a number used less and less in microfinance these days — not because of Occupy Wall Street, but because many micro-borrowers are starting to default…
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