Micro lenders have had a bad reputation but they perform a service that is essential to our growing economy. Micro lenders lend small amounts of money to people who don't have anything to put up as collateral. They are accessible and you can get money quickly when you need it. This is also one of the problems with micro lenders - people are quick to borrow money to buy new things or get out of another debt because it's easy to do. Remember, although the micro lender will try to make sure that you can afford the loan and that you are moneywise, it's not their job to convince you not to buy that expensive TV!
Borrowing money from a micro lender can be expensive. Because they don't have the same kind of security that big banks have, micro lenders must charge high administration fees and high interest. You should think carefully about what you need the money for and how quickly you can repay it before approaching a micro lender.