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Microcredit

Start your own life

Photo of Francesco Giannoccari
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Source:http://www.investopedia.com/terms/m/microcredit.asp

An extremely small loan given to impoverished people to help them become self employed. 

Also known as "microlending" or "microloan".

Renee Loth wrote an article in 2002 for the Boston Globe entitled "Women Entrepreneurs," which explores how this type of loan possibly originated. In the article Loth suggests the system started in Bangladesh in 1976, when an economics professor loaned a group of women $27 to finance their own small business. Amazingly the women repaid the loan and were able to sustain the business.

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Hi Francesco, interesting post! Any chance you could find an image to go along with it? Images help grab attention and tell a story with higher impact. You should be able to use the Edit Contribution button on the top of your post and follow the instructions to add images from there. Looking forward to seeing more of your inspiring insights on OpenIDEO.