What are WMEF’s interest rates on loans?
WMEF makes higher risk loans than conventional lenders, and charges higher interest rates to support that risk. Loans which fall into the micro-enterprise category (generally $35,000 or less) are usually at a fixed interest rate for the entire loan term. Larger loans are usually at a variable interest rate which adjusts on a quarterly basis. The actual interest rate on a loan is determined on a case by case basis and depends on a variety of factors including business history and financial condition, management experience, loan size, collateral, and repayment terms. WMEF utilizes personal credit scores in assessing a loan request but does not price its loans based on those scores.
