Definitions for "Microcredit"
Small loans extended to the rural and urban poor, who often lack the collateral needed to borrow from commercial banks. These loans help poor people break the cycle of poverty by giving them the means to start their own businesses. Also referred to as microfinance.
Small loans that are given to community members for the purpose of generating or enhancing income.
Small loans, perhaps $50 or $100, that are extended to small businesses to finance a business start-up or other business activity.