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What Is a Microcredit Program and How Does It Work

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What is a microcredit program and how does it work?


Definitions:

Voluntary Exchange

An economic transaction where both parties agree to trade goods or services by mutual consent without coercion.

Tax Revenue

The income that the government receives from taxation of individuals and businesses.

Federal Government

The national government of a federal state, which holds sovereignty over broad aspects of governance, such as defense, foreign affairs, and monetary policy.

Payroll Taxes

Taxes imposed on employers and employees, based on the wages and salaries paid to workers, used to fund social security and healthcare services.

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