But the banks are still pretty confident then, and they're like, no.

Let's see what happens when n is equal to 2.

So what is our payment amount?

And the corollary of more people willing to lend, is you that the actual standards go down.

And to do that, let's get a little bit more abstract.

At the time, there was a microlending group in the village that gave her a 65 dollar loan.

Well we learned what happens.

But in general, hopefully, I've shown to you that we can write the loan amount as the present value of all of the payments.

And if we can catalyze a supportive community to come around these individuals and to participate in their story by lending a little bit of money,

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In this situation, you take your payment, you discount it by your monthly interest rate, you get the loan amount.

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And they decided in 1990 that they wanted to start training the local entrepreneurs, giving them small loans.

Whether people will continue to loan them money.

They're going to decide up front how the money gets spent just like in the IMF.

It's fun. Carl, this bank traditionally has never given out small loans.

And so this is our yield.

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But anyway, here I want to figure out what is my return on asset?

And so that cash ended up here.

Every two months, the typical loan officer approves 35 to 40 loans.

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And if they default on it, I actually get an asset that's probably worth more than the loan amount, and I can auction that off and easily get my 500,000 back.

And so with patient capital from Acumen and other organizations,

What I want to do in this video is go over the math behind a mortgage loan.

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And today, less than five years in,

But these were essentially no down payment.

The standards for getting a loan went lower and lower.

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Now, if you don't trust someone, you place restrictions on them, right?

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For Principal Fuentes, PS 24's modest investment in the programs has paid big dividends.

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What are you carrying?

I'm pulling out of his scheme.

If your job is to dance, do your dance.

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