What are the different microfinance models?
An example of an AI chatbot conversation about microfinance models and their impact on communities.
What are the different microfinance models?
Microfinance models include group lending, individual lending, and village banking. Each has unique features and benefits.
Can you explain how group lending works?
In group lending, small groups of borrowers come together to apply for loans. They support each other in repayment, reducing risk.
What are the advantages of microfinance?
Microfinance provides access to capital for the underserved, promotes entrepreneurship, and can improve community welfare.
Are there any challenges associated with microfinance?
Yes, challenges include high interest rates, over-indebtedness, and the potential for exploitation of borrowers.
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