Page 95 - MICROHUB Handbook - ENGLISH
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5. Micro Funding: Microfinancing is a sort of finance that, particularly in
the developing world, has a big impact on enterprises. Business owners
in the social sector, who might not have access to traditional financing,
face particularly severe funding challenges. One approach might be
microlending. Microfinance loans are made to assist ambitious business
owners in generating income, accumulating assets, managing risks, and
meeting their basic necessities. Low-income business owners who might
not be eligible for typical credit and lending choices might access
financing through microfinance. Small loans, or microloans, savings
accounts, and insurance coverage are all types of microfinance products
(microinsurance).
6. National Funding programs: Each country has its own national
strategy for development, and offers different
types of funding, based on the objectives of
each national strategy.
Those programs are being managed
by the Ministry of Development and
Ministry of Finance of each country,
as well as by other private organisations.
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