microlender

(redirected from Micro Lender)

Microlender

A person or bank that makes loans in small amounts. In the developing world, microlenders often make loans of only a few dollars to facilitate the start of small businesses. In this case, the interest can be a flat fee that does not compound. In the developed world, microlenders make loans of $5,000 to $25,000 and charge higher interest rates than they would for larger loans.

microlender

A company or organization that makes small loans to businesses that are generally unable to obtain financing from a regular source. Microlender loans often range from $5,000 to $25,000 at interest rates higher than those charged by commercial banks.
References in periodicals archive ?
InstaCash is a Micro Lender licensed to provide financial products, the demand for which is rapidly increasing in an underserved market because of stringent new government regulations to which the Company adheres.
The firm continues to hold stakes in six other financial services companies: Blue Financial Services, a non-deposit taking micro lender serving 10 countries in sub-Saharan Africa; BACIM Bank, the seventh largest banking group in Mauritania; Continental Reinsurance plc, Nigeria's largest reinsurance company; African Financial Holdings, a prominent banking group with eight subsidiaries across Africa operating under the Bank of Africa brand name; Intercontinental Bank plc, one of the largest banking groups in Nigeria; and GA[c]nA[c]rale Assurance MA[c]diterranA[c]enne, a life and non-life insurance company in Algeria.
South Korean finance firm, APRO Financial Co Ltd, is to purchase a stake in Indonesia-based micro lender, Bank Andara.
Currently the micro lender has Rs 330 crore worth of portfolio under management covering around 250,000 clients in the states of Maharashtra, Tamil Nadu, Gujarat, Orissa, Karnataka and Rajasthan.
InstaCash is categorized as a Micro Lender and is licensed to provide financial products pursuant to the Australian National Consumer Credit Protection Act.
We have studied the success of microfinance institutions throughout Africa, and we believe that Blue Financial is well poised to expand upon its position as a leading multinational micro lender.
Grant to Micro Lender Will Help Create Much-Needed Jobs
Apart from a set of HNIs, the micro lender s list of investors also includes Indian giant HDFC Group.
Working with nonprofit micro lender Accion and its various lending partners, including San Francisco's Opportunity Fund, Brewing the American Dream has provided more than $2 million in micro-financing to nearly 240 businesses nationwide, coached more than 3,000 small business owners, and created or saved nearly 1,400 jobs.
Previous winners were in 2009, The Intersect Fund, a micro lender based in New Brunswick and comprised mostly of volunteer Rutgers Students, and in 2008, Bookswim, a book rental service with a similar business model to the one Netflix uses.
India-based Bandhan, a micro lender that had been approved to provide banking services in India, is hiring from the private banking sector.
SKS Microfinance Ltd (NSE: SKSMICRO) is another micro lender, the only one to be listed on the exchange, which is considering the idea.