In developing economies, microfinance banks are faced with raising institutional loans. Lack of access to finance is often the critical element underlying persistent income inequality as well as creeping growth. Another barrier is the lack of proper documentation. Financial institutions usually require one or more documents for identification purposes, but many in low-income countries who live in rural areas and work in the informal sector lack such papers. High prices and fees also represent barriers: many institutions have minimum account requirements and fees that make even opening a simple account out of reach for many potential users.