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Dec 08, 2008

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Danny Gamache

Like the comments made on the original article, this kind of abusive interest rate is NOT the norm in microcredit lending. Generally rates are consistent with local bank rates in the country of interest. In my experiences in Bangladesh with microcredit the rates were closer to 11% ANNUALLY not monthly.

Michael W. Kruse

Agreed. I think the larger point is that inaccessibility of capital is so critical in so many contexts that even at astronomical rates lending has a positive affect.

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