Business, Legal & Accounting Glossary
Microfinance is a category of financial services targeted at individuals and small businesses who lack access to conventional banking and related services.
finance Finance that is provided to unemployed or low-income people or groups
Microfinance is the practice of giving or receiving small loans. Such loans are often only hundreds or thousands of dollars and are given with a view to allow the recipient to develop a financially-sustainable enterprise, which can continue on its own after the loan has been paid back.
Microfinance is most common in developing countries such as Bangladesh, India, Brazil, and Colombia.
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This glossary post was last updated: 6th April, 2020 | 0 Views.