Economy, asked by parth8304, 11 months ago

why is it difficult for poor to get loan from banks​

Answers

Answered by divyansh791011
1
The poor find the process of taking loans from the bank difficult because of lack of proper documents and collateral. NOTE – Collateral refers to the asset that is owned by the borrower and is used as a guarantee to the lender until the loan is repaid
Answered by jagdish1581
3

Heya mate here is ur answer

●The poor find the process of taking loans from the bank difficult because of lack of proper documents and collateral.

●That's why they take loan from their relatives , friends , landlords, etc.

●In villages , people are illiterate so they do not want to go through the process of documentation.

Hope you get ur answer !!!!

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