Microfinance Flashcards
1
Q
Micro finance
A
Banking service provided to unemployed or low income individuals or groups who otherwise would have no access to financial services
2
Q
Advantages of micro finance
A
Domestic growth
Job opportunities
Reduces inequality
Tackle poverty
3
Q
Disadvantages of micro finance
A
May cause too many businesses
Opportunity cost
Not guaranteed to succeed
Not free loan, struggle to pay back
High interest rates
