What is a Microloan?

Before I start talking about microloans, and all the great things that they do, I figured it would be good to talk about what a microloan is. The official definition, according to the American Heritage Dictionary is; "A very small, often short-term loan made to an impoverished entrepreneur, as in an underdeveloped country." What that means is that for a small amount of money (we're talking less than a thousand dollars) business owners in third world countries are able to start their businesses. These are not donations, they are loans, and are usually paid back in full. One great aspect about microloans is that they do not all come from the same person. Small donations, even $25 or $30 makes a differance. Anything helps these entreupenurs start up their businesses. Check in again to hear about differant organizations you can help out.