Read the passages and select the word or phrase that best completes ead
This passage is about microloans.
Microloans are small business loans of around 500 to
5,000, (1) is to provide much-needed (2) to business
owners in developing nations. While success stories exist,
it remains to be seen if these money-lending transactions
are bringing (3) to struggling entrepreneurs. The main idea
behind microfinance institutions (MFIs) is that loans are
interest-free, so borrowers are not required to pay through
the (4) when reimbursing the money they have borrowed.
There are two particularly successful microlenders, Kiva and
Lendwithcare, (5) recognize that entrepreneurs will never get
ahead if they are forever struggling with debt.
As the lending models of Kiva and Lendwithcare center
around providing zero-interest loans to small businesses in
developing countries, there is some doubt that the money will
ever be repaid, however MFIs argue that this model is in the
(6) interests of the borrower believing that as the vast majority
of these business owners face great difficulty in just (7).
demanding interest would be counterproductive. MFIs depend
on crowdsourcing for their funds and (8) investors lend money
even though they are aware that they cannot make a profit
from their investment. What the MFIs are essentially asking
of their investors amounts to a form of (9), but once the loan
is repaid, they can withdraw their money. Most however, put it
into another project. Results are positive; after (10) conducted
a study of their borrowers, Lendwithcare learned that their
incomes had risen by 30.7% over the course of five years.
1 A which functions
B functioning
2 A principal
B asset
3 A prospect
B prosperity
4 A eyes
B
teeth
5 A all of which
B both of which
6 A prime
B most
8 A reputable
B allocated
9 A consumerism
B professionalism
C whose function
D functioned
10 A having
B being
C influx
D capital
C prosperous
D prospective
C nose
D
C
D
mouth
in which case
at which p
7 A scrimping and saving C making ends me
D
keeping up with
Joneses
B running up bills
C great
D best
point
C economic
D beneficial
C volunteerism
D multiculturalism
C had
D have