microlender

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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 ?
WWBIC is a certified Community Development Financial Institution (CDFI) as well as one of the nation's top SBA Microlenders and SBA Community Advantage Lenders.
To a large extent, microlenders and digital lenders currently serve different customer segments - the former tends to serve more unbanked customers and informal sector workers.
Microlenders, which include Community Development Financial Institutions and Rural Rehabilitation Corporations, will be able to offer their customers up to $50,000 of EZ Guaranteed Loans, helping to reach urban areas and underserved producers.
She entered the not-for-profit sector over five years ago, consulting for a variety of organisations, including microlenders and healthcare foundations.
Moreover, in both developed and developing economies, individuals now have new opportunities to participate in microfinance as microangels and as microlenders themselves and supply capital to others.
Discussing the impoverished borrowers who have recourse to microlenders, Geisst remarks that "those falling into that category in the United States were much higher than previously thought.
For example, Unilever worked with microlenders to open lines of credit for women who, once they had access to the product, could sell soap to entire villages.
In order to address the various challenges, the Development Bank of Namibia has implemented an apex microfinance facility to provide bulk capital to existing microlenders who can achieve developmentally beneficial results.
The grant will aim to train select WBCs to become microlenders and provide capital for loans to women who own businesses, and also strengthen the centers' ability to refer women to other sources of capital, and to provide women with financial literacy and loan readiness skills.
By diversifying the sources of microlenders, both by type by encouraging corporates to sign on and by scope as the online platform opens up the lending process to anyone with internet, Pi Slice has the potential to make a mark on MENA microentrepreneurship.
Indonesia-based Bank Rakyat, considered to be one of the biggest microlenders in the world, is planning to expand its operations.
239) This rosy picture turned significantly darker by 2008, however, as for-profit microlenders were increasingly criticized for an undue interest in profits.