What Is Microfinance,and How Can It Contribute to Economic Growth

question 44

Essay

What is microfinance,and how can it contribute to economic growth?

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Definitions:

Collateral

is an asset pledged as security for the repayment of a loan, forfeitable in the case of default.

Corporation

A legal entity recognized by law as a separate "person" that can own assets, incur liabilities, and conduct business, often with the aim of generating profit for its shareholders.

Partnership Agreement

A legal document that outlines the rights, responsibilities, and proportions of interest of each partner in a business venture.

Executive Summary

A concise overview of a document or report, highlighting its main points, conclusions, and recommendations, typically placed at the beginning.