Why Microfinancing Is Important to Small Business

Charlene Rhinehart is an expert in accounting, banking, investing, real estate, and personal finance. She is a CPA, CFE, Chair of the Illinois CPA Society Individual Tax Committee, and was recognized as one of Practice Ignition’s Top 50 women in accounting. She is the founder of Wealth Women Daily and an author.

Microfinance-also called microcredit-is a way to provide small business owners and entrepreneurs access to capital. Often these small and individual businesses don’t have access to traditional financial resources from major institutions. This means it is harder to access loans, insurance, and investments that will help grow their business.

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