We offer innovative Micro Credits/ Micro Finance solutions at competitive interest rates and minimal documentation. Through technology, Dhanik Advisors is able to provide timely credit to JLG.
Microcredits are small loans that are typically granted to people who have limited access to traditional banking services. These loans are generally used to start small businesses, purchase equipment or supplies, or cover unexpected expenses. Microcredit programs are often targeted at individuals in developing countries who do not have access to formal banking institutions.
The concept of microcredit was first developed in the 1970s by economist Muhammad Yunus in Bangladesh Yunus realized that many impoverished individuals were unable to obtain loans from traditional banks due to their lack of collateral and credit history. To address this issue, he established the Grameen Bank, which provided small loans to poor entrepreneurs without requiring collateral.Microcredit programs have since been implemented in many countries around the world, and have been credited with helping to alleviate poverty and promote economic development. Some critics, however, argue that microcredit programs may not be as effective as they are often portrayed, and that they may sometimes create additional financial burdens for borrowers.
