The Power of Microcredits

I mentioned microcredits yesterday. The idea is to extend very small loans (microloans) to people who would have no capacity whatsoever to get loans through traditional means. Microcredits are targeted to the unemployed and poor, primarily focused on developing or under-developed nations where so many entrepreneurs can’t get their businesses started.
In November I read an article in the Montreal Gazette – Thinking small: Rooted in South Asia, Microcredit movement’s branches have spread to Quebec. The article was about Mohammad Hassan who started Jobra Centre, Inc. in Montreal, an organization that helps with the microcredit process (which they call “community loans” …read more