CHRIST MICRO FINANCE – MINISTRY OF FINANCE

                                   MINISTRY OF FINANCE

CHRIST MICRO FINANCE
Micro-finance and credit
Micro-finance
Basically, micro-financing is a complex of financial services, such as: savings; credit; insurance; and money transfers, which are given solely to poor or low income clients, most of them unsalaried, by institutes that specialize in Micro-finance. The idea behind Micro-financing is that not only is it reasonable that low income individuals and businesses should have access to a wide array of financial services, but that it’s crucial that they get such access. Those services may provide the spark for that person to find the way out of poverty or for the small business to survive or even expand.

Micro-credit
Micro credit is an aspect of Micro-finance that refers to small loans without collateral. Some of the methods used in microcredit include: group lending and a gradual increase in loan sizes, as well as a guarantee of ready access to future loans if present loans are repaid fully and promptly.

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