Jun 16, 2019
I have been following many thread and discussion here ralating to credit risk fee being too high and not refundable, What I understand most borrowers look for help from Zidisha and most of them are poor and thats why they decided to borrow from Zidisha though most of borrowers are crying that the credit risk fee is too high and also making it non refundable its so difficult for most member to agree on this. What I was suggesting, can Zidisha staff allow borrowers and lenders maybe to be giving out funds to cater for such risk, like for example I am comfortable to be giving a small portion of my cash at the end of every month to zidisha to cater for risks that may occur in future, It become likes a premium the same way insurance company works, members give some certain premium for a particular period and incase the risk occur the money will be used to offset that risk. When we do this it will help reduce the credit risk fee and that will make when a borrow is borrowing maybe $1000 purchase his stock for the business only Processing/service fee will be deducted and incase of default the money can be retrieved from the one pool where all members give monthly premiums, hence many people will enjoy there loan and if they were charged credit risk they can be fully refunded after they have totally finished paying there loans since the Zidisha team will be having a common pool of fund from where all members will be contributing cash to cover certain risk in future, if this can be implemented am ready to start paying a monthly premium in order to avoid many members crying that the credit risk is too high and also non refundable so making them to fear borrowing from Zidisha. Personally I have benefited from Zidisha and am ready to help many other fellow youths join Zidisha.
Benjamin Suboni and Dorine Shitandi like this.
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