Microloans are small loans that are typically given to those in developing countries to help them start or expand a business. Microloans are typically given to those who are unable to access traditional banking services, such as those with low incomes or those in remote areas. The size of microloans typically ranges from a few hundred to a few thousand dollars, and the repayment terms are usually flexible. Microloans are usually given to help borrowers start or expand a small business, and they are often used to buy equipment, materials, or supplies. Microloans can also help with educational costs, health care, and other needs
