What is Microcredit and How to Get It?
We can say that the new entrepreneurship credit, called microcredit, has become increasingly popular in recent times. This credit, especially designed for women who want to create their own income, is one of the solutions that women can benefit from to achieve economic independence. Let's briefly provide you with the answers to the questions of what is microcredit and how to get microcredit.
What is Microcredit?
Microcredit is essentially a small capital provided to women so that they can create their own income. With this credit, you can obtain the capital needed to generate extra income for yourself, and you do not have to provide any collateral or guarantee while doing so. Therefore, we can say that it is one of the most important opportunities created for women, especially those with low income levels, to enter the business world. The necessary training is provided by the Turkey Foundation for the Prevention of Waste for three days to the women who apply, and during this process, the women are closely observed. If the institution deems that the trained women can undertake this business, the credit is handed over to them, and the desired work is started. Women who receive microcredit for the first time can borrow up to 1000 lira, but if they make their repayments regularly for one year, the amount they can receive each year gradually increases. For example, some women have been seen to receive as much as eight thousand lira in their sixth year.
How is Microcredit Repaid?
Repaying microcredit is also quite easy. You make your payments in installments on a weekly basis, thus closing your debt without being too strained. Even in case you cannot immediately generate income, you do not make any payments for the first 6 weeks, and you close all your debt in 46 weeks in the rest of the year. Of course, to benefit from all the advantages of microcredit, it is very important that you do not waste the credit you receive and use it properly by investing it in your business.
