microfinance
La microfinance est un service financier aux personnes à faible revenu. Ils aident en donnant un prêt pour eux. Microfinance est aussi d'aider ceux qui sont pauvres ou dans le besoin de rendre leurs entreprises dans la réalité. Cela les aide à acheter les matériaux pour leur entreprise. Cela leur permet de fournir un service.
What IS MICROFINANCE?
In the world we live in today there are the financial services which include loans, savings accounts, insurance, and fund transfers. All these financial services allows us to sustain ourselves with our everyday lives by managing our money that we all depend on. Unfortunately, not everyone around the globe has access to these kinds of financial services – yet. In today’s world, many are fighting to end the cause of poverty, and one of the solutions is microfinance. Microfinance is a type of banking service that helps people that are poor. One of the most beneficial and effective aspects of microfinance is microcredit. Microcredit are small loans that are offered by some institutions in different countries to those in need of growing and developing their small businesses (kivavideos).
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The way it works
The way microfinance works is it starts with the poor person trying to make a living. The person’s business might be from selling food or clothes to selling hand-made baskets (and the chances of it being very profitable at first are very low since many of the people are unfortunately poor), but to make their profession work successful enough for he/she to keep up and maintain themselves is by microfinance’s services. Services will offer the poor people loans up to a few $100 at a time which would be just enough to make their business profitable or stable (kivavideos).
The impact
The impact of microfinance is so beneficial that it does not only help them be self-independent but it also supports their community and including their beloved and precious families. As a result, he/she can now return or pay back the loans that were given to them, and this time he/she has a much stronger business going on than it was before. In addition to this kind of service being helpful to start one’s business, is loans are also used to for education, housing, or establish new kinds of opportunities that would better their state of being. Microfinance institutions also supports savings accounts and insurance for their clients. This is a good thing because if any tragic unforeseen event occurred or could ever go so wrong that it could effectively interfere with their clients or their client’s business, it would back them up with the money that was saved, and also with the help of the insurance which covers it (kivavideos).
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(kivavideos. “About Microfinance”. Online video clip. YouTube. YouTube, 28 Sept. 2010. Web. 5 May 2015
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Works Cited
kivavideos. “About Microfinance”. Online video clip. YouTube. YouTube, 28 Sept. 2010. Web. 5 May 2015
Photo works cited
- 1. Romani Laurence and Lerpold Lin, Microfinance, http://www.celsias.com/article/values-underlying-microfinance-success-stories/ , 2015, May 5, 2015.
- 2.Dr. Muhammad Yunus, How Microfinance Works, http://chiapasinternational.org/about-us/about-microfinance/ , 2015, May 5, 2015.
- 3.Nova Terra, Micro Finance, http://novaterratech.com, 2015, May 5,2015
- 4.Independence Educational Publishers, Microfinance and Micro Impact, http://simonkneebone.com/tag/microfinance/ , 2015, May 5, 2015.
- 5.Nicholson Diana, Donation Model,https://diananicholson.wordpress.com/2010/11/07/microplace-invest-in-microfinance-loans-earn-interst/ , 2015, May 5, 2015.