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Microfinance
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Definition:
Microfinance refers to the provision of financial services to clients who are excluded from the traditional financial system on account of their lower economic status. These financial services will most commonly take the form of loans (see microcredit) and micro-savings, though some microfinance institutions will offer other services such as micro-insurance and payment services.
Keywords:
[keywords:microfinance, microlending, microcredit, access to capital, financial services to the poor, collateral, credit as a human right, poverty reduction, financial sustainability, financial empowerment, economic independence, social capital, business, economics, credit societies, debt, credit union, Grameen Bank, micro credit, micro loans, micro franchising
Key People: Muhammad Yunus, Bill Drayton |
 "I did something that challenged the banking
world. Conventional banks look for the rich; we look for the absolutely
poor. All people are entrepreneurs, but many don't have the opportunity
to find that out." -Muhammad Yunus
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| Muhammad Yunus: Creating a Poverty-Free World (preview) |
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