00:00Excuse me, I'd like to apply for a small business loan.
00:03And what's your business?
00:04I bake cakes in the shape of different celebrities' faces.
00:07So what do you think?
00:08I think yes.
00:11What do you need? Maybe my last loan.
00:13Oh, it's a Ducati.
00:15I'm thinking it'll get people off my back about the male nurse thing.
00:18Nice ride.
00:19Every two months, the typical loan officer approves 35 to 40 loans.
00:24You have given out 561.
00:27What's even more unusual are the amounts.
00:29It's a $250 loan for a mountain bike, $600 for a windsurfing lesson.
00:36Carl, this bank has traditionally never given out small loans.
00:38You know, at first I thought you might be raiding our coffers.
00:41But then I looked closer.
00:42These people are so grateful to have their needs met.
00:45More than 98% of them are following through with the payments.
00:48And because you've given out so many of them, we're actually making a lot of money.
00:52Carl, these microloans, not bad.
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