Micro Loans-Loans That Changes Lives In Tanzania
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Transcript of Micro Loans-Loans That Changes Lives In Tanzania
Micro loan has been introduced recently into the financial industry. The loan amount is small with very less documentation is required.
Micro Loans - Loans That Change Lives In Tanzania
To alleviate poverty
To support women empowerment
To extend education
To encourage small scale businesses
Why Microloans?
To alleviate poverty
Microloans have supported lots of families living in Tanzania, who were facing poverty. People can now fulfill their daily necessities like food and shelter which were missing before microloans.
To encourage small scale businesses
People are utilizing the microloans to start some activity which will help them in earning a sufficient amount for living.
Women are able to provide better living to their family members living in Tanzania. They are now working, earning and saving money for their better future.
To support women empowerment
To Extend Education
Parents who are not capable enough to pay the school fee for their children are now utilizing the microloans to educate them at schools of Tanzania.
A few essentials that you need to consider while taking a micro loan
Loan Amount L-Pesa is very much Flexible when it is about the loan amount.- Initial Loan amount $5 - Pay amount on time $10 or $20
Timely InstallmentsPay installment on
time. This help you to increase you
Credibility to make you easy to apply for
higher amount.
Loan interestLoan interest varies from lender to lender
depending on policies. L-Pesa offer micro loans with 0%
Interest rate.