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Exit Planning Tools
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A California based company on a mission to grow the wealth of everyday Americans. Zolidar is the easy button for employee ownership.

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Definition of Microlending/Microfinance on The Grid Glossary

Microlending/Microfinance

Also known as: Microcredit

Published on 2024-05-20 | Last edited on 2024-09-08

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Definition

Microfinance, also called microcredit, is a type of banking service provided to low-income individuals or groups who otherwise wouldn't have access to financial services. Microloans can range from as small as $50 to under $50,000.

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