Journal of Hotel and Business Management
Open Access

Microfinance

Microfinance is also called microcredit. It is a means to provide small business owners and entrepreneurs access to capital. Usually, these small and individual businesses don’t have access to traditional financial resources from major institutions. This means it is harder to access loans, insurance, and investments that will help grow their business. Basically, microfinance means providing loans, credit, access to savings accounts—even insurance policies and money transfers––to the small business owner and entrepreneur. There are many such enterprises in the developing world