Solidarity lending is a lending practice where small groups borrow collectively and group members encourage one another to repay. It is an important building block of microfinance.
Read more about Solidarity Lending: Operations, Distinctivess, Grameen Bank, Application, Criticisms, See Also
Famous quotes containing the words solidarity and/or lending:
“It is not in how one soul approaches another but in how it withdraws that I know its affinity and solidarity with the other.”
—Friedrich Nietzsche (1844–1900)
“If there is among you anyone in need, a member of your community in any of your towns within the land that the LORD your God is giving you, do not be hard-hearted or tight-fisted toward your needy neighbor. You should rather open your hand, willingly lending enough to meet the need, whatever it may be.”
—Bible: Hebrew, Deuteronomy 15:7,8.