India Fintech Loan Sharks. How TARTLE can Help in India

You’ve probably seen those payday loan businesses in strip malls across the United States. They’re small one or two-room places with a desk and some crappy chairs and ridiculously gaudy signs. If you haven’t seen them, you have probably heard of their reputation as predatory lenders. They’ll give people a loan at an insanely high-interest rate against the person’s next paycheck, and tend to lock people in a cycle of debt that is very hard to get out of. While these places are bad, they have nothing on what goes on in India on a regular basis. Over in the Asian subcontinent, they handle this sort of thing digitally and there are too many different lending apps to keep track of. In essence, they operate on a similar model to the American payday loan companies. They offer small, short-term loans at a high-interest rate against the next paycheck. The similarities end there though. While American companies charge an average of 20% interest, their Indian counterparts often charge an interest rate of 80% or