What is an example of a mircloan?

An example of a microloan is a small loan provided to entrepreneurs or small business owners in developing countries, often ranging from $100 to $5,000. These loans are typically offered by organizations like Kiva or Grameen Bank to help individuals start or expand their businesses, improve their livelihoods, and promote financial independence. The borrowers usually lack access to traditional banking services, making microloans a vital resource for economic development.