Micro Credit: A Different Approach to Traditional Banking: Empowering the Poor (Company Overview‪)‬

INTRODUCTION Micro Credit was unheard of until Dr. Muhammad Yunus, an American educated economics professor, began his Micro Credit Scheme as a poverty busting tool. Dr. Yunus had a deep conviction from the beginning that it was a tool that could serve to alleviate poverty. Micro Credit is the concept of extending loans to those who live on income in some cases as low as a $1 per day or less. The loan is usually offered without any of the collateral usually required by traditional banks. Loan sizes vary from country to country, but typically range from $25 to $250.