Micro-credit is a variation on traditional credit service that involves lends to individuals or micro-entrepreneurs whose are unable to secure credit due to poverty. They are relatively unemployed or underemployed and have no collateral and credit experience.
In
Bangladesh,
various kinds of
company
like Banks, NBFI,
NGO
and
International
Funding Body doing the Micro credit operation to ensure poverty
reduction, self-employment, etc.
Micro-credit is one
component of
micro-finance, which
also
includes other financial services such as savings accounts, insurance and money transfers.