How popular are microfinance companies in your country?

[Kane]

In our country, microfinance companies are very popular. They work in small towns and villages where the major commercial banks have not reached. People use micro finance for saving as well as burrowing. Micro finance provides higher interest rates on savings but they also charge higher interest rates on loans. Interestingly, there is no need for collateral to get a loan from micro finance.

 

[Good-Person]

In our country, microfinance companies are very popular. They work in small towns and villages where the major commercial banks have not reached. People use micro finance for saving as well as burrowing. Micro finance provides higher interest rates on savings but they also charge higher interest rates on loans. Interestingly, there is no need for collateral to get a loan from micro finance.

Micro-financing companies are quite popular in our country. This is because there are more and more people who want to invest in such kind of companies and earn money. However, I think that it is much better to invest money in a real business rather than earning interest.

 

[Kane]

Generally speaking, micro finances are not created with profit-making in mind. They are created in order to help people in rural areas and small towns to access financial services. These companies offer small loans and also help people save money.

 

[Heatman]

There are so many microfinance company and microfinance banks in my country today and majority of them are into this offering of loan businesses to those who are interested in applying for any kind of financial loan with the interest. This is because that is the best way they can easily make money and function effectively in the banking sector. I have considered opening a bank account with them because I've heard that they offer a higher interest rate on the money you save with them but I'm still going to look into it.

 

[Good-Person]

There are so many microfinance company and microfinance banks in my country today and majority of them are into this offering of loan businesses to those who are interested in applying for any kind of financial loan with the interest. This is because that is the best way they can easily make money and function effectively in the banking sector. I have considered opening a bank account with them because I've heard that they offer a higher interest rate on the money you save with them but I'm still going to look into it.

Micro-financing companies became quite popular in my country after more and more banks were created in my country. There are many rich investors who have invested a large sum of money into these banks. However, when the country started to face financial issues, the profit ratio become much smaller.

 

[Heatman]

Micro-financing companies became quite popular in my country after more and more banks were created in my country. There are many rich investors who have invested a large sum of money into these banks. However, when the country started to face financial issues, the profit ratio become much smaller.

Whenever there's an economic crisis, everything and everyone in the country will be affected in a negative way. Finances will be drastically affected, earning will be cut short, businesses slowed down. It would be as if the whole economy is on a standstill.

 

[Good-Person]

Whenever there's an economic crisis, everything and everyone in the country will be affected in a negative way. Finances will be drastically affected, earning will be cut short, businesses slowed down. It would be as if the whole economy is on a standstill.

Well, until or unless you invest in an international company, the profit ratio will always fall. However, if a country gets involved in a serious financial and economical crisis, then even many international companies also tend to wind up businesses and this is what happened in many countries.

 

[Frank]

In our country, microfinance companies are very popular. They work in small towns and villages where the major commercial banks have not reached. People use micro finance for saving as well as burrowing. Micro finance provides higher interest rates on savings but they also charge higher interest rates on loans. Interestingly, there is no need for collateral to get a loan from micro finance.

They are becoming popular over here in my country. You know that there are the number one financial institution where you can have easier access to loans. So, emerging businesses and individuals interested in getting a loan always want to make use of their services.

 

[Kane]

They are becoming popular over here in my country. You know that there are the number one financial institution where you can have easier access to loans. So, emerging businesses and individuals interested in getting a loan always want to make use of their services.

Looks like microfinance companies are more popular in the developing world. These companies target small businesses and individuals and offer loans without any collateral, Therefore, lower-income people can have access to financial services

 

[Achawaskey]

True there is no collateral, but identity check must be carried in order to ascertain your true business and Place of operation. Micro finance banks normally use cooperative societies in disbursing there loans with the help of the head of the cooperation serving as surety to its members.

 

[Good-Person]

Whenever there's an economic crisis, everything and everyone in the country will be affected in a negative way. Finances will be drastically affected, earning will be cut short, businesses slowed down. It would be as if the whole economy is on a standstill.

I think when inflation hits develop countries, its negative effects could also be experienced in many other developing countries as well. This is mainly because developed countries have much influence over the global economy. This also affects the microfinance sector as well in a negative manner.