Based on international practice, we can talk about the success of microcredit worldwide. Micro-loans are resorted to by people who need urgent material support, as well as entrepreneurs who take them.
How did microcrediting come about?
In 1976, the first form of microcredit for individuals appeared. This happened thanks to Mohammed Yunus, who worked as a professor of economics. Yunus subsequently received the Nobel Prize. During work, he realized that even a little material help provides invaluable support to a needy person. To a woman who made bamboo furniture, he gave twenty-seven dollars – his first microloan. Later, Yunus creates Grameen Bank, the main goal of the bank is the issuance of microloans. Now the number of borrowers from the bank is more than 6.1 million people. To date, the bank has issued approximately four million loans – their total amount is more than five billion dollars.
It is worth noting that 98.4% of the loans taken are repaid on time. First, in order to get the loans taken, the bank used a mutual guarantee system. Lenders created special groups, group members had to vouch for each other.
Later, other alternative lending schemes are created.
What about microcredit today?
Now microcredit is not only in many third world countries, but also in the USA and Europe. In addition, 2005, the United Nations declared the “International Year of Microcredit” – this was done to help develop microcredit, as well as to note the contribution of microcredit to the eradication of poverty in all states.
Note that microcrediting individuals in Russia is not as popular as in other countries. Perhaps this is due to the fact that lending to microenterprises implies the presence of great risks. As for the domestic collateral legislation, it does not make it possible to realize collateral quickly and at no special cost if the loan is still not repaid.
Regarding the advantages of a microloan, it is worth noting that this loan is quite easy to take, because you do not need to provide many different documents.
It turns out that microcredit makes it possible to quickly get the right amount of money. However, it is worth considering that this is a rather expensive loan. In addition, borrowers may become dependent on microloans. According to experts, today microcredit no longer implies an initial goal: by and large, it does not reach the poor.
Subtleties of microcredit
For a year or more, legal entities are able to issue microloans. From two weeks to several months – approximately for this period individuals prefer to take loans. With the indicated terms, the existing high rate is not so much felt. Citizens do not have a special need for long loans. By and large, the population prefers to take microloans only in difficult situations, when the salary will not be soon, and money for everyday spending is needed in the near future.
Documents required for taking a microloan
No security deposit is required. However, there is a possibility that a surety will be needed. If we are talking about jur. person, you will need the following data from him:
- – personal data of the borrower;
- – extract from the unified register of legal entities;
- – at the end of the reporting date financial statements are needed;
- – a card with standards of signatures of the company’s authorities, certified by a notary.
A deposit in Kiev and a loan secured by real estate without an income statement are provided by the ZaRaz CS