Most microfinance institutions focus on offering credit in the form of small working capital loans, sometimes called microloans or microcredit.
Microfinance services are designed to reach excluded customers, usually low income population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient
A business which functions on a small scale level involves less capital investment, less number of labour and fewer machines to operate is known as a small business.
Microfinance is useful because it empowers individuals, particularly women and those in low-income communities, by providing access to financial services like small loans and savings.
Microfinance's focus on fast executions stems from its core purpose of providing immediate access to financial services for low-income individuals and groups, particularly those lacking access to traditional banking.
Microfinance providers offer guidance and support to borrowers because it's a core part of their business model, aimed at empowering individuals and helping them succeed with their businesses.
Microfinance helps individuals and small businesses achieve financial security by providing access to credit, savings, and other financial services that are often inaccessible to traditional financial institutions.
Microfinance institutions offer refinancing to borrowers, or micro-entrepreneurs, for several reasons.
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