Some of the items used as informal financial instruments are check-cashing outlets, loans from friends, saving clubs, pawn shops and money lenders. Advantages include low interest rates, immediate accessibility, approval of loans based on character and sequential access to facilities.
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Some of the items used as informal financial instruments are check-cashing outlets, loans from friends, saving clubs, pawn shops and money lenders. Advantages include low interest rates, immediate accessibility, approval of loans based on character and sequential access to facilities.