Microfinance 2016 Election Prayer

Manila Bulletin, May 5, 2016 | Go to article overview

Microfinance 2016 Election Prayer


Some important concepts have to be taken into consideration with microfinance. Microfinance is lending to the poorer classes of the economy. On that level the first consideration is to whom the loans are being made and on that level percentages of interest or profit can be very high. Since the amounts are small, percentages are high. Profits can be done in a day. Even 300 percent can be done. This brings us to the purpose of the loan. If it is for business there is no need for limits on interest rates. As long as the borrower can make a surplus the interest rate is a minor consideration. However if the loan is for consumption, there is no way the loan can be paid even at the lowest interest rates. The ones who borrow for consumption need hand-outs and not microfinance loans. They should be taken care for by the St. Vincent de Paul Society or some hand-out organization or the parish priest. They cannot be the customers of microfinance. Microfinance is only for business loans and, therefore, they have to show on a piece of paper they can make a profit on the business in which they are asking for a loan.

In general microfinance in the Philippines can make a generalized statement that no microfinance institution can survive with charging less than 25% per annum or 1/2 % per week, or 2% per month interest. The percentages at the lower levels of lending are not that important as the availability for a loan. This is the Damocles sword that hangs over poor people when borrowing. They do not want to lose their eligibility to take the loan. The big problem in microfinance is that for the most part they are very dependent on the profits that they make on the business for their consumption needs. Therefore there are times, in spite of their wish, that they are delayed in paying the amortizations. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Microfinance 2016 Election Prayer
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.