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linav88 · Joined: 12 Sep 2004 Posts: 5

is a micro credit institution same as micro finance institution?

miliy · Joined: 08 Jan 2007 Posts: 3

Micro finance institution are rendering consulting services to asses the viability of a business. I doubt if the same services are rendered by micro credit institutions.

ColinS6328 · Joined: 09 Dec 2005 Posts: 4

Micro credit means an extremely small loan given to impoverished people to help them become self employed. Also known as "micro lending."and the micro credit institution deal with them.Traditionally micro credit focused on providing small loans to low-income entrepreneurs who otherwise had no access to finance or would otherwise have to rely on informal sources of capital such as savings or family members.The term micro finance encompasses a range of financial services such as loans, savings, hedging and even micro venture capital. Some also include in the scope of the micro finance definition financial services aimed at accommodating household needs (including health, education, etc.).