Microcredit programs are designed to provide loans to individuals who typically do not have access to traditional forms of credit due to lack of collateral, steady employment, or a verifiable credit history. These programs aim to empower the poor to start their own businesses and improve their economic conditions.

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Microcredit Programs

Question 71

Multiple Choice

Microcredit programs

A) provide loans to people who generally cannot get traditional credit.
B) require an applicant to provide a 20% minimum capital investment and have good credit.
C) offer World Bank loans to large capital investors who agree to establish manufacturing industries in developing countries.
D) do not require repayment of loans if the recipients establish businesses in low-income areas.

Correct Answer: