How Microfinance is Helping Poor Households in Fighting Poverty Things to Know

1. How Microfinance is Helping Poor Households in Fighting Poverty: Things to Know Most banks and financial institutions are shy of lending to low-income households, rural women, and small businesses as they consider their high-risk profile and high-cost transactions. The reason is that these borrowers are found in hard-to-reach locations. Since the transaction size is small, the cost of funding becomes high and unviable. A finance company lending small sums of money to the poor so they can work their way out of poverty is referred to as a Microfinance company. Microfinance companies active across Asia and the Pacific have been helping low-income families stabilize their cash flows from income. During times of crisis, a Microfinance company helps borrowers cope and build. In good times, they allow them to grow their business and prosper.

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