RIGA- A local loan company is getting a lot of international attention, not because it is new on the scene at a time when many loan companies would sooner leave, but because it requires one simple piece of collateral, your soul.
The widely publicized company Kontora is headed by Viktor Miroshenko age 34, the face of Kontora, which offers loans from 50-500 lats (700 euros) to residents of Latvia, requiring only a first name and a signature for the contract, no documents necessary.
The two month old Kontora does not use debt collectors to collect on those who have borrowed money, the threat of soullessness is enough.
If they don't give it back, what can you do? They won't have a soul, that's all, Miroshenko told Reuters. <...>