Why are banks unwilling to lend money to a poor person?

1.	Why are banks unwilling to lend money to a poor person?
Answer» Answer: Banks do not wish to give loans to the poor, who have no COLLATERAL. BANK loans require proper documents and collateral, as security against lo The borrowers who have not paid any PREVIOUS loans are defaulters, and banks might not be willing to LEND them again. The banks might not be willing to lend those entrepreneurs who are GOING to invest in the business with high risks.

Answer»

Answer:

Banks do not wish to give loans to the poor, who have no COLLATERAL. BANK loans require proper documents and collateral, as security against lo

The borrowers who have not paid any PREVIOUS loans are defaulters, and banks might not be willing to LEND them again.

The banks might not be willing to lend those entrepreneurs who are GOING to invest in the business with high risks.

Discussion