New Ways to Borrow: Shark bait

Oct 2011
London, United Kingdom, October, 08 2011 - Most people think of developing countries when they hear the term “microfinance”. Not so a growing number of the 1.14 million low-income households (4% of Britain’s total) that lack bank accounts, nor the additional 8 million people (15% of the population) who are “underbanked”— excluded from mainstream bank lending and credit cards, both of which are increasingly stingy, because of bad credit scores or irregular incomes.

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Source : The Economist

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