Experiments in art : digital : life

From wikipedia
Idea: Very small loans to impoverished people to spur entrepreneurship

To be eligible, applicants must lack:

Collateral
Steady employment
Credit history

Loans in “developing countries” are generally provided to SHGs: Self-help group of invested parties. Usually 20 or fewer members.

SHGs generally pay interest rates between 12% and 24% per year based on the flat calculation method.

On the web, the principles of microcredit have been used to facilitate the development of peer-to-peer lending platforms.