💰 MicroCredit
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, or a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent.Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983. Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries and is presented as having "enormous potential as a tool for poverty alleviation."[4] Microcredit is a tool that can be helpful to possibly reduce feminization of poverty in developing countries. A) Search Data (after reviewed)Please share below. The team is made stronger by each individual contribution.(note: if sharing below does not work, then you may email to microcredit@EarthTeamWork.com)
C) Newly Added Data Sheet (not reviewed - be careful with links)
MicroCredit Video