Saved Bookmarks
| 1. |
Why is it difficult for Poor to get loan from banks |
|
Answer» the main reason is bcoz poor people do not have the capacity to take loans from the banks. Due to absence of collateral The main reason is that poor do not have collateral which the bank asks before giving the loans It is difficult for poor to get loan from bank because:1)Banks befor giving them loan ask for collateral.2)Banks often charge a high interest rate to the borrower.3)Poor people find it difficult to pay the loan back to bank and as a result they get caught in dept trap.HOPE IT HELPS!!! It is difficult for Poor to get loan from bank because they did not have any option to give the long back so the banker\'s did not believe on them and do not give them loan |
|