How to reduce loan defaults in Liberia: Best strategies for lenders
When we talk about loan defaults in Liberia, what usually comes to mind is poverty or bad borrowers. But beneath the surface, there are ignored factors that quietly make things worse. In this article, we explored the reasons behind Liberia’s loan default challenge and workable strategies that lenders can use to protect their portfolios while still empowering the people they serve.
Debt management strategies
Debt management can seem challenging, but with the right strategies in place, you can avoid losing control of your finances.
Categories of low-risk borrowers lenders should target
Saying, “I don't want high-risk borrowers,” is one thing; articulating the low-risk customers you seek is another. We have done the grunt work of identifying and categorizing traditionally low-risk borrowers.
