Is micro-credit an effective solution to poverty?
Micro-credit is a small loan given to individuals living in poverty, usually women, to be used to start businesses, generate income and alleviate poverty (Karim, 2008). Since the conceptualization of microfinance by professor Mohammed Yunus and the Grameen Bank, microfinance has been used to lift individuals and families out of poverty. Individuals have successfully used the small loans to start or grow small businesses and used the income from those businesses to feed their families and help their communities. Although there have been many cases of microcredit being beneficial, there is still a lot of debates about whether microcredit is an effective solution to poverty. Microcredit is advantageous
Micro-credit is a small loan given to individuals living in poverty, usually women, to be used to start businesses, generate income and alleviate poverty (Karim, 2008). Since the conceptualization of microfinance by professor Mohammed Yunus and the Grameen Bank, microfinance has been used to lift individuals and families out of poverty. Individuals have successfully used the small loans to start or grow small businesses and used the income from those businesses to feed their families and help their communities. Although there have been many cases of microcredit being beneficial, there is still a lot of debates about whether microcredit is an effective solution to poverty. Microcredit is advantageous