DEFINITION OF MICROFINANCE : 1.

A type of banking service that is provided to unemployed or lowincome individuals or groups who would otherwise have no other means of gaining financial services. http://www.investopedia.com/terms/m/microfinance.asp#axzz1nOKoNq2m Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services. http://en.wikipedia.org/wiki/Microfinance

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3. Microfinance is often defined as financial services for poor and low-income clients offered by different types of service providers. In practice, the term is often used more narrowly to refer to loans and other services from providers that identify themselves as microfinance institutions (MFIs). These institutions commonly tend to use new methods developed over the last 30 years to deliver very small loans to unsalaried borrowers, taking little or no collateral. These methods include group lending and liability, pre-loan savings requirements, gradually increasing loan sizes, and an implicit

guarantee of ready access to future loans if present loans are repaid fully and promptly. http://www.microfinancegateway.org/p/site/m/template.rc/1.26.12263/ 4. Microfinance is a growing phenomenon in many countries. However, each country has its own distinct way of practicing microfinance suitable to their economy and society. http://www.microfinancefocus.com/category/tags/microfinance
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Microfinance offers poor people access to basic financial services such as loans, savings, money transfer services and micro insurance. People living in poverty, like everyone else, need a diverse range of financial services to run their businesses, build assets, smooth consumption, and manage risks. http://cgap.org/p/site/c/template.rc/1.26.1302/ Microfinance is the provision of a broad range of financial services to low-income households and microenterprises. The range of financial services usually includes voluntary savings and loans. Other products might also include insurance, leasing, and money transfers. The term

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microfinance encourages exploration of the entire range of financial needs and requirements of poor people. http://www.scribd.com/doc/12730364/Micro-Finance 7. microfinance, is banking the unbankables, bringing credit, savings and other essential financial services within the reach of.millions of people who are too poor to be served by regular banks, in most cases because they are unable to offer sufficient collateral. http://www.microfinanceinfo.com/the-definition-of-microfinance/ 8. microfinance is an collective term used for financial intermediation services to low income group and poor customers. Services offered are credit facility, saving accounts , money transfers, remittances, insurance and even investment . http://www.slideshare.net/kabrapiyush/microfinance-introduction-small
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financial services for poor and low-income clients. he term is often used more narrowly to refer to loans and other services from providers that identify themselves as microfinance institutions (MFIs).

http://answers.yahoo.com/question/index?qid=20091014193229AAF7okC 10. Refers to institutions that specialize in making very small loans to very poor persons in developing countries. Instead of using collateral to assure repayment, these lenders harness social pressure within the borrower's community. Originally done on a nonprofit basis, it is now being done increasingly by for-profit companies. http://www-personal.umich.edu/~alandear/glossary/m.html 11. The provision of small loans (microcredit) to poor people to help them engage in productive activities or grow very small businesses. The term may also include a broader range of services, including credit, savings, and insurance http://www.pbs.org/wgbh/rxforsurvival/glossary.html#m 12. Microfinance includes basic financial services - including small loans, savings accounts, fund transfers and insurance. Alongside non-financial services such as business training, microfinance assists people living in poverty who wouldnt usually qualify for regular banking services because they have no form of collateral or formal identification.

http://www.opportunity.org.au/What-We-Do/Our-Philosophy.aspx? gclid=CPKInOm7uq4CFQpshwodZC5ZMA 13. Microfinance is the practice of making standard financial services savings, pensions, insurance, and investment capital available to the poor. http://oneseedexpeditions.com/what-is-microfinance/ 14. Microfinance consists of the provision of financial services (such as credit, savings, insurance or transfers, among other things) to a sector of the population usually excluded from the traditional financial sector http://www.cumbremicrocredito2011.es/?page_id=641&lang=en
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Microfinance: a variety of financial services, such as credit insurance, savings, and remittances that are provided to poor entrepreneurs. The most well known form of microfinance is microcredit, small loans given to lowincome entrepreneurs who lack the ability to receive loans from a formal bank. http://en.wokai.org/microfinance

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Microfinance refers to financial services for poor and low-income clients. microfinance also includes the provision of other basic financial services such as savings, money transfer and insurance for poor people. Improving access to such services allows poor and low-income people to finance incomegenerating activities, build assets, stabilize consumption and protect against risks. http://www.lendwithcare.org/info/what_is_microfinance Microfinance involves the lending of small amounts (often as little as $100) to spur the development of small businesses in poor countries, to people who otherwise would be denied loans from conventional banks, but who nonetheless are judged to be good credit risks by micro lenders. Microfinance was conceived as means to spur grassroots economic development and self-sufficiency in poor countries, while also turning a profit for micro lenders. http://financecareers.about.com/od/jp/g/microfinance.htm

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