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microfinance

noun

mi·​cro·​fi·​nance ˌmī-krō-ˈfī-ˌnan(t)s How to pronounce microfinance (audio)
-fə-ˈnan(t)s,
-fī-ˈnan(t)s
: financial services especially in the form of microloans provided to impoverished individuals and groups in poor and developing regions
Muhammad Yunus starts lending money to the rural poor in Bangladesh. His Grameen Bank kicks off a worldwide movement in microfinance as lenders start to see poor people, especially women, not as bad credit risks but as profitable customers. Barbara Kiviat

Example Sentences

Recent Examples on the Web The task White’s catalytic philanthropy tackled was one of nudging the market into action. Scaling up Water.org nudged the market by extending its philanthropy to microfinance lenders. Mark Davis, kansascity.com, 19 May 2017 The actress and humanitarian also described a microfinance movement called Myna Mahila Foundation, where women manufacture sanitary pads to sell in communities. Lauren Le Vine, vanityfair.com, 8 Mar. 2017 These institutions continue to buttress their flawed systems of microfinance while colluding with governments to restrict any development of sovereign purchasing power. Letter Writers, Twin Cities, 12 Mar. 2017

Word History

First Known Use

1994, in the meaning defined above

Time Traveler
The first known use of microfinance was in 1994

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