Microfinance has been a longtime interest of mine so imagine my surprise when I found something that tied two of my loves – yoga and microfinance – together! Yay!
Microfinance is the supply of loans and other financial services to the poor who are unable to qualify for loans through regular banks. It was founded by Muhammad Yunus, who believed that in order to help the poor we need to help them help themselves. He thought one way to do this could be to provide them with small loans that they would repay over time. This would give the poor the opportunity to get the funding needed to start up their own little businesses and slowly earn revenue, thereby supporting themselves in the long run.
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