MBA students to receive money transfers

Entrepreneurs can now make international payments to a lucrative new scheme, it has emerged.

Loans provider Prodigy Finance recently teamed up with France-based business school Insead to launch its community education bond, the Telegraph reports.

The initiative allows investors to make money transfers to a pot of cash that is loaned to Insead's Master of Business Administration (MBA) students.

Following completion of their MBAs, graduates are given seven years to repay their debt to investors via Prodigy Finance.

Cameron Stevens, chief executive of the loans company, told the paper: "This makes them motivated to repay, because they know their repayments aren't going to some faceless bank in New York."

He added that entrepreneurs who have transferred money to the scheme benefit from a greater rate of interest on repayments than those offered by banks that are involved in similar initiatives.

Meanwhile, consumer advisor BuyAssocation.co.uk has highlighted recent trends that see Swiss property agents contacting UK-based entrepreneurs in order to tempt them to move to the country.

Click here to make an International Money Transfer.

By John Mills