Refinancia’s Applies Charm to Debt Collection in Latin America

Since launching Refinancia in Bogota in 2005, Chief Executive Officer Kenneth Mendiwelson has taken an unusual approach to recouping the personal loans his debt-collection business buys from banks: amicable negotiations, rather than harassing phone calls or visits. “We provide a dignified product to someone who has been mistreated by the financial sector,” explains the 39-year-old Harvard Business School graduate, who used a $4 million loan from friends and family to get started. “Someone who falls into default is not a bad person.”

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