Chapter 9, Problem 2TAI1

Summary Introduction

To Determine:

The cultural or commercial obstacles for microfinance in developed nations.

Introduction:

Microfinance is a finance facility for the lower income group of people who face difficulty in getting financial aid from general means. Unemployed or poor people usually do not get financial aids from financial institutions. Microfinance is a blessing for such people as requires no or very low collateral for the small amount of loans.