Quote:
Originally Posted by Archaea
What was your impression of it all?
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A couple of years ago when we were driving back to DC from the North Carolina Utah FB game he espoused the gospel to me. In theory I think its great. The problems you run into especially in foreign countries is the principle of "you can't sue a rock" IE If they default you never see that money again and its difficult to collect.
microlending is very similar to person to person lending
http://en.wikipedia.org/wiki/Person-to-person_lending
The problem is the these poor entrepeneurs are hamstrung by their governments so even if they have finances the barriers to entry are extremely difficult.
In short good concept but real world problems make it difficult