Features of Unemployed Loans
In a microfinance organization, the unemployed do not have all the chances to plan for the largest required amount of credit. Exceptions are made only by those buyers who have repeatedly applied to the company and repaid their tails on time. Banks that issue loans to the unemployed offer either a guarantee to the buyer or a loan to an officially employed family member.
Advantages of Unemployed Loans
It is much easier and more realistic for the unemployed to apply for a loan from a microfinance company because the actual buyer testing process is not, for example, strict. A request for an MFI income statement is considered a rare occurrence.