Different customers: small loans, customers are concentrated in all kinds of formal enterprises and working-class individuals. These customers usually have more formal documents to prove their credit status, such as financial statements, payroll, etc. Their customers are geographically dispersed.
Meaning: Microfinance is a comprehensive consumer loan centered on individuals or enterprises. The loan amount is generally more than 1 1,000 yuan and less than 200,000 yuan. The treatment process generally needs to be guaranteed. Microfinance is an extension of microfinance in technology and practical application.
Features:
Simple procedures, fast lending process, simple procedures.
The repayment method is flexible.
The loan scope is wider.
Flexible marketing methods.
Microfinance companies have high quality loans.
Small loans have little social risk.
Meaning: Micro-credit is a micro-financial service model serving urban and rural low-income groups. Microfinance aims to provide poor farmers or micro-enterprises with opportunities for self-employment and self-development through financial services, and promote their self-survival and development. It is not only the innovation of financial services, but also an important way to help the poor.