microlender

(redirected from Micro Lenders)

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 ?
Opening the door to micro lenders focused on rural and semi-urban areas is widely viewed as a move to encourage financial inclusion of a large unbanked segment while mobilising rural savings and making them available for local investments.
Shiimi said when people borrow money from financial institutions, including micro lenders, they should at least use this money for productive purposes such as investing in assets that will yield results that are beneficial to the economy and their financial positions.
With our web-based solution being used by micro lenders worldwide, we now want to target those who do not have access to stable Internet connectivity or have to work completely off line," Technical Director Sergey Fomin was quoted as saying.
Even as the Reserve Bank of India is gearing up to release the guidelines for the issue of banking licences, micro lenders in the country are considering applying for the permits.
Credit unions and micro lenders tend to be more willing to fund nontraditional businesses, Arora said.
Usual credit channels have been closed off, with locals saying micro lenders are refusing loans as they know the workers are going without pay.
On the other hand, it approved a Bill to regulate the micro finance industry and bring micro lenders under the purview of the Reserve Bank of India.
He noted that the harsh conditions have created a situation that micro lenders, such as Map Financial Group, must now fill.
He noted that the harsh economic conditions have created a situation that micro lenders, such as Map Financial Group, must now fill.
Micro lenders are interested in social responsibility as well as repayment of the loan.
Other micro lenders may loan as little as $1,000 for starting or growing a business, or up to $35,000, she says.
We also now have micro lenders which are great for small loans of a few thousand dollars.