Question

Microfinance loans are primarily for the purpose of:

a.Assisting people in poverty to obtain funds to start a small business.

b.Assisting youth with the ability to go to college.

c.Providing funding to start-up businesses with a social purpose.

d.All of the above.

Answer 1

Microfinance loans are primarily for the purpose of assisting people in poverty to start a small business.

Step-by-step explanation:

Microfinance loans are primarily for the purpose of assisting people in poverty to obtain funds to start a small business. These loans provide financial resources for individuals and families to make important investments, such as starting a business, paying a debt, or buying important equipment. They aim to improve financial outcomes and provide opportunities for those in need. Therefore, the correct answer is a.Assisting people in poverty to obtain funds to start a small business.