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Microlending/Microfinance

Also known as: Microcredit
Published on 2024-05-20 | Last edited on 2024-09-08
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Definition

Microfinance, also called microcredit​, is a type of banking service provided to low-income individuals or groups who otherwise wouldn't have access to financial services. Microloans can range from as small as $50 to under $50,000.

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