2007-09-18 18:29:55 · 2 answers · asked by chris2danguyen 2 in Business & Finance ➔ Personal Finance
A micro loan is a small loan to help an individual start a business. The loan carries a low interest rate. Usually micro loans are issued in developing countries to help impoverished people become self employed & self sufficient. Such loan programs are becoming available in the US.
For more information: http://www.oxfamamerica.org/whatwedo/where_we_work/camexca/news_publications/art6081.html
http://www.bankrate.com/brm/news/biz/Capital_borrowing/20001013.asp
http://www.sba.gov/services/financialassistance/sbaloantopics/microloans/index.html
2007-09-18 18:37:38 · answer #1 · answered by Treadstone 7 · 1⤊ 0⤋
A micro loan is a loan made for a very small amount something less then $100 made to someone in a third world country by an individual and not an institution
2007-09-18 18:37:27 · answer #2 · answered by Stacey S 1 · 0⤊ 0⤋