How does the demand for collateral affect a person's capacity to Borrow?
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How does the demand for collateral affect a person's capacity to Borrow?
Since the poor people do not have a collateral to offer, they have a poor chance of borrowing. Also, they cannot get any loans or credit from formal sources of credit like co-operatives or banks. So, they prefer to take loans from known people like friends, relatives, money lenders etc.
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