A Micro Loan offers small-scale financial assistance to businesses, typically with lower loan quantums. These loans are easier to qualify for compared to traditional bank loans and have a simplified application and approval process.
Borrowers receive a specific sum, which is repaid with interest over a set period, usually in regular instalments.
Micro Loans are often used for business expenses, purchasing equipment, or meeting other financial needs to help SMEs grow, making them a valuable resource for those seeking modest funding.
