A small group of low-income entrepreneurs from less-developed countries borrowing money at competitive rates with little or no collateral is called ________.

Question

Quizplus · Accepted Answer

This type of lending is commonly known as microcredit, and it aims to help those who lack access to traditional banking services due to poverty or location. It often involves lending small amounts of money to individuals or groups who use it to start or expand a small business. Microcredit has been shown to have positive impacts on poverty reduction and economic development in many low-income communities. Options A, C, and D are not correct terms for this specific type of lending.

A Small Group of Low-Income Entrepreneurs from Less-Developed Countries Borrowing