Category: best pay day loans

Borrowers have actually accused NGOs of charging you interest that is unfairly high demanding quick payback, and reporting debts towards the authorities

The great majority of men and women taking out fully microfinance loans in Sierra Leone are females. Photograph: Kate Holt for The Guardian

The world’s biggest NGO happens to be forced to conduct an inside article on a money-lending scheme it operates when it comes to bad in Sierra Leone after some borrowers amassed significant debts and were reported to police if they could not repay loans.

A Guardian research right into a microfinance programme run by Brac unearthed that the NGO’s staff had been neglecting to fully explain the conditions associated with loan to borrowers, or make sure they are able to pay the high rates of interest connected with such loans.

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