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What is Microfinance

Chapter 4
Microfinance and Sustainable Development in Africa
Microfinance refers to the financial services provided to low-income individuals or groups who are typically excluded from traditional banking.
Published in Chapter:
Microfinance for achieving Sustainable Development Goals: Pondering Over Indian Experiences for the Preservation of Magnificent African Natural Resources
Manpreet Arora (School of Commerce and Management Studies, Central University of Himachal Pradesh, Dharamshala, India) and Swati Singh (Maharaja Agrasen University, India)
Copyright: © 2022 |Pages: 21
DOI: 10.4018/978-1-7998-7499-7.ch004
Abstract
This chapter focuses on the possibilities of exploring the areas where credit intervention can be done by the government in the form of schemes which are dependent on sustainable business practices. Nature has provided us abundance of raw material which if used wisely can help to remove poverty across the globe; on the same hand we can preserve the natural resources also if we use sustainable practices. In the current scenario where the world is facing pandemic and natural calamities, the time has to come to focus on sustainable rural micro financing activities which can not only solve the problem of linking the deprived sections of society with the mainstream, but it can also help them to improve their standard of living, and simultaneously, it can take care of various environmental issues too.
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More Results
Chapter 1
State Institutions of Financial Support for Small Business in Volatile Economies: Possible Application of Russian Experience in Ghana
Is a type of banking credit ranging from as little as $100 to about $25000, provided to the unemployed or low-income individuals in order to support the running or establishment of businesses.
Published in Chapter: State Institutions of Financial Support for Small Business in Volatile Economies: Possible Application of Russian Experience in Ghana; From: Strategy and Superior Performance of Micro and Small Businesses in Volatile Economies
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Chapter 6
Islamic Social Finance: Integrating Zakah Funds in Microfinance and Microenterprise Support Programs: Selected Case Studies
Refers to providing micro-credit or low amounts of money to people who are typically excluded from traditional banking and financial services.
Published in Chapter: Islamic Social Finance: Integrating Zakah Funds in Microfinance and Microenterprise Support Programs: Selected Case Studies; From: Microfinance and Sustainable Development in Africa
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Chapter 1
Microfinance Impact on Microbusiness Development in Africa: Evidence From a Control Group Experiment in Ghana
The provision of small loans and training exclusively to microbusinesses, financially disadvantaged individuals, and low-income families.
Published in Chapter: Microfinance Impact on Microbusiness Development in Africa: Evidence From a Control Group Experiment in Ghana; From: Microfinance and Sustainable Development in Africa
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Chapter 12
Joint Liability Lending, Entrepreneurial Development, and Poverty Reduction
It is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services. The two main mechanisms for the delivery of financial services to such clients are (1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based models, where several entrepreneurs come together to apply for loans and other services as a group. In some regions, for example, Africa, microfinance is used to describing the supply of financial services to low-income employees, which is closer to the retail finance model prevalent in mainstream banking.
Published in Chapter: Joint Liability Lending, Entrepreneurial Development, and Poverty Reduction; From: Handbook of Research on Digital Marketing Innovations in Social Entrepreneurship and Solidarity Economics
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Chapter 6
Bilateral Cooperation Between Australia and Bangladesh in Diverse Areas: An Analysis to Cope With the COVID-19 Aftermath
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Chapter 7
Empowering Marginalized Women Through Entrepreneurship: Breaking the Barrier
The term microcredit has been replaced by microfinance in recent times due to its wider role, as microfinance adds the provision of savings and insurance services to that of credit.
Published in Chapter: Empowering Marginalized Women Through Entrepreneurship: Breaking the Barrier; From: Rural Entrepreneurship and Innovation in the Digital Era
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Chapter 5
Analysis of Factors That Affect the Use of Microfinance for Microbusiness Development in Ghana
The provision of small loans and training exclusively to microbusinesses, financially disadvantaged individuals, and low-income families.
Published in Chapter: Analysis of Factors That Affect the Use of Microfinance for Microbusiness Development in Ghana; From: Microfinance and Sustainable Development in Africa
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Chapter 4
Promoting an Ecosystem Approach for Inclusive and Sustainable Entrepreneurship in Underserved Communities
Refers to provision of financial and non-financial services for the marginalized people who are financially excluded by the formal financial institutions. It includes a wide array of financial and non-financial services for poor.
Published in Chapter: Promoting an Ecosystem Approach for Inclusive and Sustainable Entrepreneurship in Underserved Communities; From: Sustainability and the Future of Work and Entrepreneurship for the Underserved
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Chapter 3
Impact of Microfinance on Female Empowerment: A Review of the Empirical Literature
The provision of financial services to the poor in society. Services often include, but are not limited to, micro-loans, micro-savings, training and micro-insurance.
Published in Chapter: Impact of Microfinance on Female Empowerment: A Review of the Empirical Literature; From: Contemporary Global Perspectives on Gender Economics
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Chapter 15
Exploring Partnerships Between Australia and South Asia for Crowdfunding Social Enterprises: A Post-COVID-19 Strategy
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Chapter 15
Joint Liability Lending, Entrepreneurial Development, and Poverty Reduction
A source of financial services for entrepreneurs and small businesses lacking access to banking and related services. The two main mechanisms for the delivery of financial services to such clients are: (1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based models, where several entrepreneurs come together to apply for loans and other services as a group. In some regions, for example Africa, microfinance is used to describe the supply of financial services to low-income employees, which is closer to the retail finance model prevalent in mainstream banking.
Published in Chapter: Joint Liability Lending, Entrepreneurial Development, and Poverty Reduction; From: Handbook of Research on Social Entrepreneurship and Solidarity Economics
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Chapter 10
Women Entrepreneurs and Microfinance Institutions: A Way to Create New Ventures
The provision of savings, deposits, loans, payment services, money transfer and insurance services to the very poor and low-income households.
Published in Chapter: Women Entrepreneurs and Microfinance Institutions: A Way to Create New Ventures; From: Handbook of Research on Nascent Entrepreneurship and Creating New Ventures
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Chapter 12
The Evolution of Microfinance Products to Promote Microentrepreneurship Towards Social Progress of African Countries
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Chapter 7
Financing Social Enterprises: A Systematic Approach
A type of banking service that is provided to unemployed or low-income individuals or groups who otherwise have no other access to financial services.
Published in Chapter: Financing Social Enterprises: A Systematic Approach; From: Handbook of Research on Value Creation for Small and Micro Social Enterprises
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Chapter 3
The Role of Microfinance in Africa: A Review of Outcomes From Ghana and Nigeria
The provision of small loans and training exclusively to microbusinesses, financially disadvantaged individuals, and low-income families.
Published in Chapter: The Role of Microfinance in Africa: A Review of Outcomes From Ghana and Nigeria; From: Microfinance and Sustainable Development in Africa
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Chapter 12
Microfinance Regulation and Consumer Socio-Economic Security
Microfinance refers to a set of financial services for the very poor. Services include microloans or microcredit, micro saving accounts, micro-insurance, and micro remittances. Microfinance primarily lends small amounts of money to individuals or groups who lack access to conventional banking and related services because they lack collateral. Microfinance clients are primarily women seeking loan amounts that are below the minimum threshold banking services offer.
Published in Chapter: Microfinance Regulation and Consumer Socio-Economic Security; From: Regulating Human Rights, Social Security, and Socio-Economic Structures in a Global Perspective
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Chapter 2
Communication Dynamics of Women in Microfinance Projects as a Model for Women Empowerment: Microfinance Projects for Poverty Alleviation in the Philippines
“Small monetary infusion” provided as an additional capital for small and medium scale enterprise production that will increase income or returns (refers to credit ).
Published in Chapter: Communication Dynamics of Women in Microfinance Projects as a Model for Women Empowerment: Microfinance Projects for Poverty Alleviation in the Philippines; From: Empowering Women Through Microfinance in Developing Countries
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