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Causes and Control of Loan Default/Delinquency in ...
American International Journal of Contemporary Research Vol. 4, No. 12; December 2014 36 Causes and Control of Loan Default/Delinquency in Microfinance Institutions in Ghana Alex Addae-Korankye Central University College BOX DS 2310, Dansoman Accra, Ghana Abstract The study analysed the Causes and Control of loan delinquency/default in microfinance institutions in Ghana. Random sampling technique was used to select twenty-five microfinance institutions and two hundred and fifty clients for the study. Questionnaire and interview guide were used to collect data for the study. The study found the Causes of loan default to include; high interest rate, inadequate loan sizes, poor appraisal, lack of monitoring, and improper client selection.
Default occurs when a debtor has not met his or her legal obligations according to the debt contract. For example a debtor has not made a scheduled payment, or has violated a loan covenant (condition) of the debt contract (Ameyaw-Amankwah, 2011). A default is the failure to pay back a loan. Default may occur if the debtor is either
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