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Reply to the below post in 200 words. The reply

Reply to the below post in 200 words. The reply must include at least 2 scholarly sources (published within the last 5 years) in addition to the course textbook (attached) and relevant biblical integration. All citations and references must be in the current APA format.  Do not repeat the same sources as the original post; use the text or Biblical integration.


There are many microloans out there that many small businesses use to keep their company going, need to remodel, or start a business. The microloan’s interest rate ranges from two to eighteen percent, excluding origination and bad debt recovery fees. This is a great opportunity for anyone who wants to start a small business at such a low-interest rate and get the money quickly. There are a few downsides to having a microloan, is a short-which term payment plan, with certain restrictions, and a loan of a small amount of money. For instance, the business owner can only borrow a maximum of fifty thousand dollars with a short-term payment of 12 months. Also, the bank will only loan money to the business owner for a specific reason is the main restriction of the loan. The small business works hard to keep the business going and make the most profit in order to pay the loan back quickly as possible. The credit card seems a similar idea but requires a certain number of credit scores, loan amount, and a very high-interest rate between twenty-one to twenty-nine percent rate. There are low-interest rate credit cards with small amounts of credit lines for people to use if getting out of debt (Maitra et al., 2017).

The Bible teaches us that it is important to help one another with whatever we need: Give to him that asketh thee, and from him that would borrow of thee turn not thou away (Matthew 5:42, King James Version, 2022/2017). The bank should be able to help anyone that will be willing to pay the money back during the loan period. Business owners need to understand that the bank is in charge of the money and owns part of the business until it is fully paid back. One of the unique Bible verses points out to all of us: The rich ruleth over the poor, and the borrower is servant to the lender (Proverbs 22:7, King James Version, 2022/2017). The debt should be paid off soon as possible, and avoid borrowing money frequently. The business owner should have self-control with the money and be able to manage money properly every day.


King James Bible. (2022). King James Bible Online. (Original work published 1769)

Maitra, P., Mitra, S., Mookherjee, D., Motta, A., Visaria, S., (2017). Financing smallholder agriculture: An experiment with agent-intermediated microloans in india. Journal of Development Economics 127 (1). 306-337,

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