Wednesday, October 18, 2006

What is Micro Credit...

This is my first post about Micro Credit. I gathered some information on it and I like to share my knowledge with others, so now I start.

First of all what is Micro Credit?

In the Micro Credit has two words, one is micro and another is credit. Micro stands for mini or small and credit means loan. The key implications of microcredit are in its name itself: 'micro'. Micro credit is the extension of small loans to the unemployed, entrepreneurs and others who are too poor to qualify for traditional bank loans. These people don’t have any assets that secure a debt obligation also they don’t have any steady income source and therefore cannot meet even the most minimum qualifications to gain access to traditional credit. The above mentioned definition also varies from country to country but some basic features remain same at all time. The basic features are:-

Micro Credit is a one of the great financial innovation which originated in developing countries. Where it helps people (mostly women) to be a self employed that allows them to generate an income and, in many cases, begin to build wealth and exit poverty. Today this Micro Credit Project becomes very popular in finance industry and many large finance organizations are adopt this concept as a source of future growth.

I will come soon with some more information….

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Tuesday, October 17, 2006


Hi, I am Samule. Gather information on Micro Credit and Grameen Bank Concept.

More information about Micro Credit comming soon...

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