What is microfinance?

Microfinance, also called microcredit​, is a type of banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services.The goal of microfinance is to ultimately give impoverished people an opportunity to become self-sufficient.

To many people, microfinance means providing small loans (microcredit) to very poor families to help them engage in productive activities or nurture their tiny businesses. ... Traditionally, microfinance has focused on providing a very standardized credit product.

Microfinance, also called microcredit​, is a type of banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services.

While institutions participating in the area of microfinance most often provide lending—microloans can range from as small as $100 to as large ____ ________ _______ _________ __________.
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