A smart new business loan for people with no credit | Shivani Siroya
Trust: How do you earn it? Banks use credit scores to determine if you're trustworthy, but there are about 2.5 billion people around the world who don't have one ...
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How much do you need to know about a person before you'd feel comfortable making a loan? Suppose you wanted to lend 1,000 dollars to the person sitting two rows behind you. What would you need to know about that person before you'd feel comfortable? My mom came to the US from India in her late thirties. She's a doctor in Brooklyn, and she often lets friends and neighbors come to see her for health services, whether they can pay right away or not. I remember running into her patients with her at the grocery store or on the sidewalk, and sometimes they would come and pay her right on the spot for previous appointments. She would thank them, and ask them about their families and their health. She gave them credit because she trusted them. Most of us are like my mom. ...
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How much do you need to know about a person before you'd feel comfortable making a loan? Suppose you wanted to lend 1,000 dollars to the person sitting two rows behind you. What would you need to know about that person before you'd feel comfortable? My mom came to the US from India in her late thirties. She's a doctor in Brooklyn, and she often lets friends and neighbors come to see her for health services, whether they can pay right away or not. I remember running into her patients with her at the grocery store or on the sidewalk, and sometimes they would come and pay her right on the spot for previous appointments. She would thank them, and ask them about their families and their health. She gave them credit because she trusted them. Most of us are like my mom. ...
