Microfinance is the practice of lending ________, with no collateral, and accepting ________ savings deposits.

Question

Quizplus · Accepted Answer

Microfinance involves lending very small amounts of money to individuals or small businesses who typically do not have access to traditional banking services, and it often includes accepting small savings deposits. This approach is designed to empower the financially underserved communities by providing them with the means to start or expand small businesses, thereby fostering economic development at the grassroots level.

Microfinance Is the Practice of Lending ________, with No Collateral