Question

To obtain a microcredit loan, a person typically must __________.
A.
be a male and have a source of income
B.
provide collateral and sign paperwork
C.
verbally promise to pay back the money
D.
have a good credit history

Please select the best answer from the choices provided.

A
B
C
D

Answer 1

C

Microcredit programs typically lend small amounts without collateral or formal credit history, relying instead on trust, peer pressure, and borrowers' promises (often within group-lending arrangements).