According do Wikipedia, microlending is defined as the extension of very small loans (microloans) to those in poverty designed to spur entrepreneurship. 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.
The site mentioned in this piece is MicroPlace; check it out here.
Daily David
1 day ago
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