According to ACCION International, a leading nonprofit microcredit provider, microfinance is defined as "banking and/or financial services targeted to low-and-moderate income businesses or households, including the provision of credit".
Typically international in scope, microfinance support enables economically disadvantaged individuals to obtain the small-scale capital they need to start up viable income-earning businesses. Organizations that provide microfinance or microcredit are known as Microfinance Institutions, or MFIs. These providers can be nonprofit organizations but also commercial banks or other financial institutions.
See our related Knowledge Base articles:
- For-profit enterprises
- Non-US grantseekers
To learn more about microfinance, the following resources may be helpful.
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