What is microloes?

Answer 1

Microloans are small loans, typically ranging from a few hundred to a few thousand dollars, aimed at individuals or small businesses who lack access to traditional banking services. They are often used to promote entrepreneurship and economic development, particularly in developing countries. Microloans can help individuals start or expand small businesses, improve their livelihoods, and achieve financial independence. Organizations and non-profits often provide these loans, sometimes coupled with training and support to ensure successful repayment and business growth.