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What is Understanding Microfinance Basics about?

Microfinance involves providing financial services like credit, savings, insurance to low-income individuals and households. It aims to help the poor raise their income and standard of living. While microcredit specifically refers to small loans, microfinance encompasses a broader range of services. The key difference between microcredit and microfinance is that microcredit programs are non-profit organizations dependent on donors, whereas microfinance programs are for-profit ventures intended to become sel

Author

MIRADOR ACCOUNTANTS KENYA

Language

EN