microfinance

microfinance definition - business

microfinance

The granting of financial services and products such as very small loans to assist the exceptionally poor in establishing or expanding their businesses. Microfinance is used in developing countries where budding entrepreneurs do not have access to other sources of financial assistance.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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