Sources of funding of small amounts, for a very short time, available in developing countries are called ______.

Question

Quizplus · Accepted Answer

Microloans are small amounts of funding, usually less than $50,000, that are provided to small businesses in developing countries. They are intended to help entrepreneurs and small business owners who lack access to traditional forms of financing, such as bank loans. These loans are usually given for a very short period of time, often just a few months, and are designed to help recipients grow their businesses or address short-term financial challenges. Charitable contributions and business loans are also sources of funding, but they may not be available in small amounts or for short durations. Miniloans is not a commonly used term in financial circles.

Sources of Funding of Small Amounts, for a Very Short