Feb 15, 2022
Was excited when the risk fee was abolished by zidisha because as small and upcoming business this amounts go a long way to make on unmake us. The idea of open or crowd funding is also excellent, however the service fee is not stable as announced earlier, was even thinking that with reference to those that pay up their loans regularly there will be some consideration with regards to the service fee bit it ain't so. Could an explanation be offered as to why different service fees are charged the same loan amount?
Godfred Asumadu, Abraham Segbedzi, Benjamin Adu, Emmanuel Gyamfi, Florence Afram and Philip Tawiah like this.
Feb 19, 2022
Larger loans have higher fees, because they are normally held for longer than small loans and have higher risk of default. The fees are necessary to cover the cost of transferring funds, operating the platform and losses to defaults.
If we did not have fees, Zidisha would not be able to cover its costs and continue operating. We are a philanthropic organization, and keep fees as low as possible while still ensuring the community's long-term sustainability.
Feb 21, 2022
So that's it means that no one to go for largest loan amount or what
Godfred Asumadu, Emmanuel Gyamfi, Florence Afram and Philip Tawiah like this.
Feb 22, 2022
I totally understand that the service fees are very essential for zidisha to be in operation especially with some rates of defaults too. My issue was with the fact that members with low risks based on previous records should be at least considered with the fees been charged. My previous loan was 3210 cedis and the service fee was 256 cedis,I contributed 100 cedis and paid ahead of time,my next loan is now 3243 cedis and the credit fee is 518 cedis. I totally agree that the loans need to be serviced but we also have overhead costs as small businesses and want to grow. Hope my concerns are understood and addressed
Godfred Asumadu, Anya, Emmanuel Gyamfi, James Mwila, Nyinar Korku Richard, Florence Afram and Philip Tawiah like this.
Feb 23, 2022
Am agreed with your comment
Emmanuel Gyamfi, James Mwila and Philip Tawiah like this.
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