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Small business is integral to the success of any economy. It is through small business that innovators are able to create and ideas are able to come to life.
The traditional view of microlending is that small loans are given out to small businesses. This is because these businesses have limited access to capital and/or a traditional loan is just too financially out of reach. These loans are paid back over a certain time frame at a smaller interest rate. To learn a little bit more about microlending, please see https://www.investopedia.com/terms/m/microfinance.asp.
At Believe in Belize we would like to grow a traditional microlending service, but also develop non-traditional alternatives. Our pilot sewing machines microlending project is an example. If you have any fun alternative ideas please contact us at Board@believeinbelize.org.
