What is a fair price for good credit?
Emotions run very high around the issue of interest rates, and some MFI’s abroad have been criticized for their high rates. Why is it that the price charged for money is scrutinized so much more carefully than the price charged for other goods? Here in the U.S., non-profit lenders have kept their interest rates lower for a variety of reasons, including regulations, public perception and investor restrictions. If we are serious about scaling up U.S. microlending, are much higher rates going to be necessary, so that earned income can replace philanthropic support? We will hear from several practitioners and thinkers on the question: What is a “fair” price to pay for good credit?
Sean Foote, Managing Director, Labrador Ventures
Elizabeth Funk, Board Member and Co-Founder, Unitus Investment Group
Paul A. Leonard, Director of Operations, California, Center for Responsible Lending
Jonathan C. Lewis, Founder, MicroCredit Enterprises
Elisabeth Rhyne, Managing Director, Center for Financial Inclusion at ACCION International
Luz Urrutia, CEO, El Banco de Nuestra Comunidad