Microfinance review

In Human Geography we wen over a power-point that the two other sections did. This helped us review for out test that is coming up on Friday.

Microfinance= a general term to describe financial services to low-income individuals or to those who do not have access to typical banking services

Microloans= loans people money to help them get a kick start in a small business that they think will  be beneficial to their village or town

Another definition

Microloans=When a person lends a small amount of money to a developing business. Once the business is running good the leader will receive the money back

They can also help investments in infrastructure, education, and legal forms
They also give the opportunity to have choices

What does it do?

Provides people who don’t have the money to get a loan and start a business, also helps pay for insurance
Helps the local economy
It is an opportunity for the less fortunate

Allows people to builds their assets

Developing countries:

Most of the countries are poor, and they are the ones most likely to need help

Problems:
Malaria= a life threating transmitted mosquitoes    Doctors are working for a cure
Drought
Clean water
Famine
Poor health care
Pollution
poverty

Loans and small businesses:
Help them get loan, housing and structure investments

Microlender= an organization that makes business loans to individuals who are not able to obtain financing from traditional lenders