![]() ![]() ![]() Although the risk of the borrower defaulting on the loan is relatively high, this is accounted for through higher interest rates, especially for high-risk borrowers. Microfinance is good for the lenders too. As the name suggests, microfinance is lending on a microscopic scale, with business owners receiving funds from individuals instead of from a bank or credit union.Ī microloan program can have multiple benefits for small business owners, ranging from easier access to funds, to larger loans that aggregate funds from more than one microlender. Microlending programs are a type of peer-to-peer financing for small businesses and new startups. ![]()
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