Question

in which source of credit helps poor to improve their living

Answer 1

microfinance involved extending small loans saving another basic finance services to people that don't currently have access to Capital at AP strategy in helping people living in the poverty to become financially independent which help them to become more and better able to provide of their families in times of economical difficulty controlling nearly half the world service on the less than 2 dollars a day and microfinance in the vital solution here are 6 benefits of microfinance first one is Axis Bank simply won't extend loans to those with little or no Assets and generally don't engage in the small size of loans typically associated with micro financing is based on the physiography that events all amount of credit can help and the cycle of poverty second one is better loan repayment reach microfinance 10 to target women borrowers who are statistical e less likely to default on their loans than men so this loans help and empower women and they are obtained saver investors and investment for those loans the funds extending families receive microfinance are less likely to pull the children out of school for economical reason and next thing is that improved health and welfare can lead to improve access to clean water and better sanitation while allowing to provide better access to health and Care and sustainability even a small working capital loan $100 can be enough to launch a small business in a developing country that could help the band factory pull them self and their family out of the poverty and last thing is that job creation micro financing can help create new employment opportunities which has a beneficial impact on the local economy