Lending to Mirella
Mirella runs a business making traditional Dominican and Haitian candies. She needed some money to expand her operation. A local lender gave her a loan of US$1000 that she had to pay back at $100 per week, for 13 weeks. That works out to 9% per month and well over 100% annually. Careful Loans helped her pay off that loan early and gave her much better terms. Below, it is clear how the loans stacked up. Now international lenders can help out hundreds of Dominican entrepreneurs and benefit from the social lending model.
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