"Just in theory, a loan is only useful for someone who is already stable enough to think about long-term investments like starting a business." It may seem obv

"Just in theory, a loan is only useful for someone who is already stable enough to think about long-term investments like starting a business." It may seem obvious that someone who we consider to be poor, and to have unstable circumstances, has no use for a loan. I suggest you read 'Portfolios of the Poor'[0]. The book is based on financial diaries kept by people in precarious situations in poor countries. These diaries chronicle a surprising array of financial instruments used by people whose personal balance sheets are smaller than many HN readers' weekly snack budgets. [0] http://www.portfoliosofthepoor.com/ http://www.portfoliosofthepoor.com/