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WAEC Commerce 2025 Question 29

Question 29

Banking

A financial institution which offers loans to small scale businesses is a

  1. A.building society.
  2. B.central bank.
  3. C.forex bureau.
  4. D.microfinance institute.
Show the answer and explanation

Answer: D (microfinance institute.)

Explanation

Microfinance institutions give small loans to small businesses and low-income people.