This essay has been submitted by a student. This is not an example of the work written by professional essay writers.
Writing

microfinance firms are found in remote areas

This essay is written by:

Louis PHD Verified writer

Finished papers: 5822

4.75

Proficient in:

Psychology, English, Economics, Sociology, Management, and Nursing

You can get writing help to write an essay on these topics
100% plagiarism-free

Hire This Writer

microfinance firms are found in remote areas

Microfinance refers to organizations that provide financial services to a targeted group of people and organizations in society. In essence, they provide individuals and small businesses that lack access to mainstream banking services with an opportunity to access them easily. In most cases, microfinance firms are found in remote areas where they can be readily accessed by their target market.

Having been in the microfinance industry for a while, I have had the opportunity to have an in-depth look at the impact it can have on society. One of the most vivid memories I have dates back to 2017 when the microfinance I worked for set out to establish itself in South America. Upon hearing about us, a group of farmers from the region approached us and discussed the viability of giving them credit to expand their business. They were quite candid about the difficulties they had experienced trying to get the loan from local banks. After a few meetings with the in-house team, a loan was offered. In 2019, the firm reported that the farmers had managed to repay their loan in full and their farming business had grown exponentially. Their monthly revenue averaged at around $450,000 which was a significant increase given that before the loan, they were making about $15,000. The success of the farming organization opened my eyes to how much microfinancing can make a difference in people’s lives.

  Remember! This is just a sample.

Save time and get your custom paper from our expert writers

 Get started in just 3 minutes
 Sit back relax and leave the writing to us
 Sources and citations are provided
 100% Plagiarism free
error: Content is protected !!
×
Hi, my name is Jenn 👋

In case you can’t find a sample example, our professional writers are ready to help you with writing your own paper. All you need to do is fill out a short form and submit an order

Check Out the Form
Need Help?
Dont be shy to ask