The definition of microfinance is supporting small businesses or poor workers through small and informal one-time loans or extensions of credit.
An example of microfinance is giving a woman in India a loan to purchase a sewing machine for a sewing business.
a system that provides financial services and loans to people with very low incomes, as in undeveloped countries
- (finance) Finance that is provided to unemployed or low-income people or groups
Coined by Hans Dieter Seibel in 1990 .