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Characteristics of micro-credit

Characteristics of micro-credit

1), loan threshold

micro-enterprise Bank loan difficulties, primarily was a high threshold for the loan, business loan conditions are very strict, once the review cannot cannot borrow money from banks. In the area of microfinance, its threshold is relatively small for a lot. And microfinance itself is for small businesses, lower the threshold would be able to attract more borrowers.

2) and the procedures

to apply for a loan either bank loans or private micro-credit are required to have procedures, but relatively small procedure of credit than bank loans much easier. When many borrowers in need of emergency funds, will not choose to bank loans, bank loans, its very much, audited very carefully, after borrowers to apply for access to funds needed for some time. Microcredit procedures much simpler, you can meet the needs of people in urgent need of funds.

3) and the flexibility of

micro-credit is also a characteristic, is the flexibility of loans is very high, such as in the term of the loan, and its long, medium and short-term loans, divided not so strict, then people are free to choose the type of loan.

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