Small Business Boomers

What is Microfinance?

by Jean on June 20th, 2008

Accion International is in the microfinance business. According to their website, here is a definition of “microfinance” and “MFI”:

Microfinance:
Banking and/or financial services targeted to low-and-moderate income businesses or households, including the provision of credit.Microfinance Institution (MFI):
A financial institution - can be a nonprofit organization, regulated financial institution or commercial bank - that provides microfinance products and services to low-income clients.

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