This is completely dependent on factors such as the requirement of funds, type of business, sex of borrower, capacity of paying interest, and many more. If you are someone who is running a small business and need a quick but small loan amount, this is a great offer for you. Ideally, if you can, apply for a traditional bank loan so you can enjoy lesser interest rates as well as higher loan amounts. Micro loans are specifically good for people from low economic backgrounds who need immediate funding for their companies.