microcredit

noun

mi·​cro·​cred·​it ˌmī-krō-ˈkre-dit 

: credit in the form of microloans provided to impoverished individuals and groups

Grameen pioneered the concept of microcredit, the granting of small loans to people who otherwise would have no access to money to run a business.

—Sue Halpern

Word History

First Known Use

1980, in the meaning defined above