Micro Credit - a new financial trend in the developing countries

Recently we have heard about a topic "Micro credit". Let’s have a small discussion about it. It is a small loan given to the poor people or poor entrepreneurs.

This has been one of the major successes in the developing countries. It can be called a new financial innovation to the poor. The poor people are really benefited by this idea and mostly the implication of it. In the developing countries, the problem that hurts most is unemployment. But this idea can solve a major part of it. Especially the women will be mostly benefited because they will find themselves in a platform from where they can think something better. Finance companies also are more interested to give the loans to the women rather than the men. Because women are much reliable in terms of paying the loans in time.

Credit is very important word for all of us. It has vast uses, either in the terms of micro credit or credit score for individual.