Access to Credit

Access to credit refers to the ability of individuals or businesses to obtain loans or financial services from lenders, such as banks or credit institutions. It depends on factors like credit history, income, and ability to repay. Having good access allows for investments, starting or expanding businesses, and handling emergencies. Barriers to access can include lack of collateral, poor credit history, or limited banking infrastructure. Ensuring fair and widespread access to credit promotes economic growth and financial inclusion, enabling more people and businesses to participate in the economy effectively.