I mentioned microcredits yesterday. The idea is to extend very small loans (microloans) to people who would have no capacity whatsoever to get loans through traditional means. Microcredits are targeted to the unemployed and poor, primarily focused on developing or under-developed nations where so many entrepreneurs can’t get their businesses started.
In November I read an […]
This year, Muhammad Yunus, founder of Grameen Bank was awarded the Nobel Peace Prize. His contribution to society? The idea of microcredits, which are very small bank loans given to the poor to help them develop their own businesses.
It should be pointed out that Grameen Bank has been very successful making money from microcredits. They’re […]
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