Why is it difficult for Poor …

It is difficult for poor to get loan from bank because: 1)Banks befor giving them loan ask for collateral. 2)Banks often charge a high interest rate to the borrower. 3)Poor people find it difficult to pay the loan back to bank and as a result they get caught in dept trap. HOPE IT HELPS!!!

1Thank You

Khush Narang 6 years, 10 months ago

It is difficult for Poor to get loan from bank because they did not have any option to give the long back so the banker's did not believe on them and do not give them loan

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