Microcredit loan for poor peoples
Nobel laureate Dr. Muhammad Younus, the founder of Grameen Bank, which is mainly considered the first modern microcredit institution. The origins of microcredit in its present practical incarnation can be linked to many organizations founded in Bangladesh especially the Grameen Bank. The Grameen Bank is generally considered the first modern microcredit institution in the world. It was founded in 1983 by Dr. Muhammad Younus. Dr. Muhammad Younus start microcredit project in a small town called Jobra in Chittagong on Bangladesh. He starts this program by using his own money to deliver small loans. This loan is delivering at very low interest rates to the rural poor peoples. In 1972 BRAC and in 1978 ASA was started to follow by Grameen Bank. In 1986 microcredit reached Latin America with the establishment of in Bolivia. Microcredit became a popular tool for economic development in the world. The Grameen Bank was formed as a non-profit organization. Grameen Bank dependent upon government subsidies, and it later became a corporate. For his superb work, Dr. Muhammad Younus was awarded the Nobel Peace Prize in 2006. click here Economic principles with microcredit loan: Microcredit is ideally based on unique principles. This loan helps to poor people to do some self-employment. This loan is very used among poor people. With the help of Grameen Bank lot of peoples are started their own jobs. This loan plays a very important role in our economy. Microcredit organizations were created as alternatives to the "loan-sharks" is known to take advantage of clients indeed. The interest rates of a microcredit loans is very low so anyone can get this loan. The process to get this loan is very easy and flexible. This loan is totally different loan from the others loans. Many microcredit organizations now function as independent banks. It has led to their charging higher interest rates on loans. You just need to pay only 8 percent interest on your total amount. No hidden charges are including in microcredit loan. Dr. Muhammad Younus propagated the notion that every person has the probable to become an industrialist. Lending microcredit loan to women Lending to women has become very important principle in microcredit. You can lend with banks and NGOs such as Pro Mujer and BancoSol, WWB, catering to women exclusively. Though Grameen Bank tried to lend to both women and men at equal rates, women presently make up 95 percent of the bank’s clients. Now women continue to make up 75 percent of all microcredit recipients worldwide. Lending to women began in the 1980 when Grameen Bank found that women have very high repayment rates, and learn to accept smaller loans than men. In Bangladesh Grameen Bank is the oldest and best known microfinance institution. It is also the oldest best known institute in the world. In April Grameen Bank launched their US operations in New York 2008. Now Grameen bank is the role model for microcredit loan in the world. Many countries follow Grameen bank for microcredit loan. Microcredit loan is become very popular among all people. It is very flexible and easy to apply. This loan is the perfect loan for poor peoples. http://boldorganizing.org/blacklove/blogs/post/1861 http://my-psn.com/blogs/post/1740 http://lumms.org/blogs/post/1913Submitted by Anonymous on Sun, 04/06/2014 - 12:41am.
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