Microfinance refers to
A)the practice of offering small,collateral-free loans to individuals who otherwise would not have access to the capital necessary to begin small businesses or other income-generating activities in exchange for a percentage of future profits rather than repaying of loans.
B)the lending of money contingent upon a daily accounting of all expenditures made and all income generated.
C)the day-to-day expenses such as coffee for the office,flowers for anniversaries,etc.that are considered too small to be itemized.
D)the practice of offering small,collateral-free loans to individuals who otherwise would not have access to the capital necessary to begin small businesses or other income-generating activities.
E)the expenditures within an individual household assigned to each individual family member whether they personally generate income or not.

Question

Quizplus · Accepted Answer

Microfinance refers to offering small, collateral-free loans to individuals who do not have access to capital for income-generating activities. These loans are typically given to help individuals start small businesses, improve their homes or farms, or pursue vocational training. The loans usually come with interest rates and repayment schedules that are manageable for the borrowers, and they may be accompanied by other types of support, such as financial education or mentoring. All these activities fall under the broad category of microfinance.

Microfinance Refers to