Microlending refers to a small loan. These loans are given to people who would otherwise not be able to secure financing to invest in their businesses, homes, and families. While the loan is small to the lender and poses a smaller risk if unpaid, it is truly a life-changing event to the recipient. A woman who can provide for her family through her own industry is capable of changing the economic landscape of her home and her community.
References:
-
Renton, Peter. 5 December, 2008. Lendit Finetech News: A brief history of microlending. Retrieved from https://www.lendacademy.com/a-brief-history-of-microlending/
-
Clark, J. No date. Howstuffworks.com, money: How microlending works. Retrieved from: https://money.howstuffworks.com/microlending.htm
3. Estey, Katherine Ph.D.10 January, 2014. Impatient Optomists, the Bill and Melinda Gates Foundation: Five reasons why Muhammad Yuhus focusues on lending to women. Retrieved from: https://www.impatientoptimists.org/Posts/2014/01/5-Reasons-Why-Muhammad-Yunus- Focuses-on-Lending-to-Women#.XM7FZZNKhYg