MICROFINANCE WITH NO INTEREST MICROCREDIT WITHOUT INTEREST
A microcredit without interest is defined by microfinance option that allows an individual or a micro-entrepreneur to obtain a micro-funding facility without paying interests according to an agreement signed between the micro-lender and the micro-borrower.
A microcredit with no interest is very useful for people starting a business who do not want to deal with financial costs from the start which could be a major constraint when starting a business.
An interest free microcredit is classic in the sense that microfinance does not have a lucrative objective as it is the case with commercial banks, but aims to contribute to the social inclusion of a borrower looking for funds.
Microfinance without interest is justified by the fact that microlenders will do everything to facilitate the borrower's access to funds and allow a banking inclusion which will give the possibility of becoming professionally independent.