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What is Microcredit?
Microcredit is also known as Micro finance; it means one of the methods of increasing credit in the form of small loans which is having no collateral security. The main motive of this loan is to support small organization. It provides financial services in the form of saving accounts especially to poor people. In short it is the short financial services provided to needy and poor people who are unable to complete paper formalities in big bank.
Some of the benefits of Microcredit include,
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