Microcredit, a key element of rural economic development: a case study
Journal Title: Revista CEA - Year 2019, Vol 5, Issue 9
Abstract
Individuals who lack financial education have a hard time starting a business. As they have no access to commercial banking, they turn to friends, family, and moneylenders. Currently, microfinance satisfies those money needs and its economic boost enables individuals, especially women, to invest and reduce their household expenses. Microfinance is also impacting the economy of rural communities. The results indicate that groups of entrepreneurial women have been formed, producing a significant growth of their local economy. This quantitative descriptive study aims at identifying the characteristics of those who apply for microcredits by analyzing a sample of 50 entrepreneurs. The data obtained in this work reveal that, in 2016, an average of 50,000 microloans were granted in the coast of Chiapas; 70% of them were devoted to working capital and the remaining 30%, to fixed assets.
Authors and Affiliations
Mario Orozco-Gutierrez
Keywords
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- EP ID EP534268
- DOI 10.22430/24223182.1313
- Views 201
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