Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Pricing
Podcast Image

English for Economists | Economic News and English Expressions

Microfinance: Small loans backed by trust

29 Nov 2021

Description

Today, our topic is microfinance. Here is the Vocabulary: It is a much longer list today. Listen closely, and listen to this section a few times if you need to! Microfinance: this refers to the financial services provided to low-income individuals or groups who are typically excluded from traditional banking. Working capital: money that the entrepreneur can use for day-to-day operations, or purchase transport or equipment. Microcredit: A part of the field of microfinance, microcredit is the provision of credit services to low-income entrepreneurs. Another way to say microcredit is microloan. Collateral: Something offered as security for the repayment of the loan. Unbanked: A term used to describe the world’s working poor who are outside of the formal banking sector. Microentrepreneur: Micro entrepreneurs are people who own small-scale businesses that are known as microenterprises. Financial Inclusion: Financial inclusion happens when people have access to a range of banking products at affordable prices. Group Lending: Group Lending happens when a group of people make a collective repayment promise. Sponsors: An individual who supports a borrower. I also want to remind you of a word you learned on last weeks podcast “Pledge”. Remember? To pledge means “to promise”.

Audio
Featured in this Episode

No persons identified in this episode.

Transcription

This episode hasn't been transcribed yet

Help us prioritize this episode for transcription by upvoting it.

0 upvotes
🗳️ Sign in to Upvote

Popular episodes get transcribed faster

Comments

There are no comments yet.

Please log in to write the first comment.