Microfinance

The term “microfinance” refers to the provision of financial services, most commonly small loans, to people who have traditionally been underserved by conventional banks, usually because they are too poor or are otherwise commercially unviable. While the most common products are small loans, some microfinance institutions also provide savings services and, more recently, micro‐insurance. When referring to the provision of small loans only, the term “microcredit” is often used.

Business · Economic growth · Economics · Financial services · Financial system · Microfinance · Microinsurance · Term (time) · Finance · Microfinance and Financial Inclusion