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    What is micro credit?

    Question #100376. Asked by indiademocracy. (Oct 20 08 6:16 AM)


    looney_tunes

    		"Microcredit is the extension of very small loans (microloans) to the unemployed, to poor entrepreneurs and to others living in poverty who are not considered bankable. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit. Microcredit is a part of microfinance, which is the provision of a wider range of financial services to the very poor."
    http://en.wikipedia.org/wiki/Micro_credit

    Oct 20 08, 6:32 AM

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