10 Microfinance Test Questions!

What is "microfinance?"

Microfinance is the providing of financial services like loans, savings, insurance, and training to people living in poverty.

What are some big issues in third world countries?
Diseases (like Malaria), famine, droughts, poor health care, poverty, pollution, lack of supplies, etc.

What are microloans used for?
Helping entrepreneurs start businesses, getting products for businesses, getting machinery, etc.

What are some positive things about microloans?

The businesses can benefit the community, allows people access to banks and insurances, and they create choose. This allows people to switch professions and work in a field that interests them, or at least interests them more than their last job.

True or False: Malaria kills 655,000 people a year?

True

What do Peace Corps. volunteers do?

They are working on business issues and are focuses on increasing family income, improving environment for businesses, educating young people, and help businesses find markets for their products/services.

Who gets microloans?

Microloans can be loaned to individuals that do not have access to banking services, have low incomes, and given to those who have good ideas but need help getting them started.

How Does Microfinance work?

Microfinance is like one big circle. Like on the micro-loaning website KIVA, you can send out a microloan and eventually that person will pay you back! It's a win, win for everybody!

Do you have to be poor in order to receive microloans?

It's actually a matter of eligibility. It would be much more likely a struggling entrepreneur in Africa would get a microloan over a middle class business owner in America.

Essay Question: Would you give out a Microloan? Why or why not?

I would most certainly give out a microloan! It is an awesome idea. There are so many good things about it! It's a circle of giving and receiving and there are no losers. This helps business owners get the nudge they need to succeed!

The End :)