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Getting loans to start a company may be even harder.
The idealized view of microfinance is that budding entrepreneurs use the loans to start and grow businesses — expanding operations, boosting inventory, and so on.
Over a squealing, distorted amplifier, a master of ceremonies called out the names of the organizations receiving loans to start fishing businesses.
Without needing collateral to borrow, many use their loans to start small businesses that are a first step out of poverty.
"Development is dependent on the banking system and affects the livelihoods of ordinary Afghans who are trying to get loans to start a business.
He then took out more loans to start a new-media and technology company, but he didn't have a clear market in mind; the company went belly up in 2006.
Similar(28)
Say someone needed a loan to start a new business.
Each borrower gets a loan to start or expand a small business.
He also asked for a $30,000 loan to start a car rental agency in Malta.
He used a small loan to start his drinks stand and began making his own beverages with 10 employees.
In 2003, she decided to go out on her own and got a $200,000 bank loan to start the Boomer Group.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com