full transcript

From the Ted Talk by Shivani Siroya: A smart loan for people with no credit history (yet)

Unscramble the Blue Letters

Jenipher's food stall does well. She makes just enough every day to cover her eenspexs. But she's not financially secure. Any emergency could froce her into debt. And she has no discretionary income to improve her family's way of living, for emergencies, or for investing into growing her business. If Jenipher wants credit, her options are limited. She could get a microloan, but she'd have to form a guorp that could help vouch for her credibility. And even then, the loan sizes would be way too small to really have an impact on her business, averaging around 150 dollars. Loan shkars are always an option, but with interest rates that are well above 300 percent, they're financially risky. And because jineephr doesn't have cetoallral or a credit history, she can't walk into a bank and ask for a bienssus loan.

Open Cloze

Jenipher's food stall does well. She makes just enough every day to cover her ________. But she's not financially secure. Any emergency could _____ her into debt. And she has no discretionary income to improve her family's way of living, for emergencies, or for investing into growing her business. If Jenipher wants credit, her options are limited. She could get a microloan, but she'd have to form a _____ that could help vouch for her credibility. And even then, the loan sizes would be way too small to really have an impact on her business, averaging around 150 dollars. Loan ______ are always an option, but with interest rates that are well above 300 percent, they're financially risky. And because ________ doesn't have __________ or a credit history, she can't walk into a bank and ask for a ________ loan.

Solution

  1. business
  2. sharks
  3. force
  4. group
  5. expenses
  6. collateral
  7. jenipher

Original Text

Jenipher's food stall does well. She makes just enough every day to cover her expenses. But she's not financially secure. Any emergency could force her into debt. And she has no discretionary income to improve her family's way of living, for emergencies, or for investing into growing her business. If Jenipher wants credit, her options are limited. She could get a microloan, but she'd have to form a group that could help vouch for her credibility. And even then, the loan sizes would be way too small to really have an impact on her business, averaging around 150 dollars. Loan sharks are always an option, but with interest rates that are well above 300 percent, they're financially risky. And because Jenipher doesn't have collateral or a credit history, she can't walk into a bank and ask for a business loan.

Frequently Occurring Word Combinations

ngrams of length 2

collocation frequency
credit scores 4
food stall 3
data shows 3
percent increase 3
mobile application 2
emerging markets 2
data points 2
traditional bank 2
repayment rates 2

Important Words

  1. averaging
  2. bank
  3. business
  4. collateral
  5. cover
  6. credibility
  7. credit
  8. day
  9. debt
  10. discretionary
  11. dollars
  12. emergencies
  13. emergency
  14. expenses
  15. financially
  16. food
  17. force
  18. form
  19. group
  20. growing
  21. history
  22. impact
  23. improve
  24. income
  25. interest
  26. investing
  27. jenipher
  28. limited
  29. living
  30. loan
  31. microloan
  32. option
  33. options
  34. percent
  35. rates
  36. risky
  37. secure
  38. sharks
  39. sizes
  40. small
  41. stall
  42. vouch
  43. walk