microloans
Small-scale lending products
Microloans are very small loans, typically a few hundred dollars or less, extended to people who lack access to traditional banking.
The concept emerged to help entrepreneurs in developing countries start small businesses—buying a sewing machine, livestock, or inventory.
She used a microloan to open her food stall.
Microfinance institutions and some nonprofits specialize in these loans, which often require no collateral.
Temporary provision of resources
- borrowerOne who takes temporarily
- lenderOne who loans money
- repaymentGiving back what's owed
- creditRecognition or payment deferral
interest · collateral · default · underwriting · amortization · capital · funds · principal
Independence from outside aid
- independenceFreedom from external control
- agencyPower to act
- opportunityFavorable circumstance for advancement
- upliftRaise emotionally or physically
advancement · transformation · prosperity · equity · accessibility · dignity · autonomy
New business enterprise
- self-employedWorking independently, not hired
- artisanSkilled manual tradesperson
- vendorOne who sells goods
- shopkeeperSmall store manager
handicraft · kiosk · bazaar · marketplace · trade · commerce · retail · SME
Jointly operated enterprise
- collectiveJointly organized group
- villageSmall rural community
- localOf this area
- grassrootsCommon people as political base
solidarity · tontine · trust · sustainability · rural · agriculture · subsistence
lending
Temporary provision of resources
credit · interest · collateral · default · underwriting · amortization · capital · funds · principal · disbursement
self-sufficiency
Independence from outside aid
- independenceFreedom from external control
- agencyPower to act
- opportunityFavorable circumstance for advancement
uplift · advancement · transformation · prosperity · equity · accessibility · dignity · autonomy
startup
New business enterprise
- self-employedWorking independently, not hired
- artisanSkilled manual tradesperson
- vendorOne who sells goods
shopkeeper · handicraft · kiosk · bazaar · marketplace · trade · commerce · retail · SME · proprietor
cooperative
Jointly operated enterprise
- collectiveJointly organized group
- villageSmall rural community
- localOf this area
grassroots · solidarity · tontine · trust · sustainability · rural · agriculture · subsistence
- loansloans, lend, borrow, auto loans, bank loans
- financial supportaid, allowance, funding, financial aid, grants
- fundingfunding, grant, grants, venture capital, crowdfunding
- funding sourcesloans, savings, grants, donations, scholarships
- fintechfintech, mobile banking, digital wallet, mobile payment, digital wallets
- business fundingbank loans, venture capital, angel investor, debt financing, seed funding
microloanspredatory lending
Exploitative loan terms
payday loans · loan sharking · private banking · credit denial
microloansventure capital
Startup growth financing
equity investment · private equity · angel investing · equity stakes · seed funding