Microloans

Microloans, also known as microcredit or microfinance, are small loans given to people who generally do not have access to traditional means of credit. These loans are given for the purposes of entrepreneurial economic activity. In many parts of the developing world, microloans are given to people, particularly women, to start or maintain food-related small businesses. The intention behind microloans is to provide access to credit so that the loan recipients can use their own economic activity to get out and hopefully remain out of poverty and hunger. With access to financial resources, the hope is that people can begin to sustain themselves and their families with quality of life that is above the poverty level and no longer require other social services to survive. ...