What are Microfinance Loans? (How it Works?)

In this video tutorial, we explain all about Microfinance loans, what they are, their benefits, criticism, do they actually work, and much more.

What are Microfinance Loans?
Microfinance loans are the small capital provided to low-income individuals or groups who generally struggle to gain banking services.

What is the Objective of Microfinance Loans?
Help the low-income groups become self-reliant by becoming successful entrepreneurs and kickstarting small businesses.

Do borrowers receive any kind of specific training in handling money before they receive their loans?
Borrowers generally go through basic training that makes them understand key concepts of money management that include:
Interest rates
Cash flow
How to manage budget, debt, etc

Further, we look at some of the benefits and criticisms of the Microfinance loan, find out if Microfinance loans actually work.

So, stay with us till the very end!

For more details, you can refer to our article at: https://www.wallstreetmojo.com/microf...

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