abstract:Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history. It is designed not only to support entrepreneurship and alleviate poverty, but also in many cases to empower women and uplift entire communities by extension.
Magalie Marcelin, a lawyer and actress who appeared in films and on stage, established Kay Fanm, a women's rights organization that deals with domestic violence, offers services and shelter to women and makes microcredits, or loans, available to women working in markets, said Charles, the chair of Dwa Fanm.