microloan

noun mi·cro·loan \ ˌmī-krō-ˈlōn \
Updated on: 15 Nov 2017

Definition of microloan

plural microloans
: a small loan typically for financing entrepreneurial projects by impoverished individuals and groups especially in poor or developing regions
  • An advocate of economic power for women and a founder of women's World Banking, she [Esther Afua Ocloo] led the movement offering microloans to run small businesses around the world.
  • —Ellen Sweet

First Known Use of microloan

1988


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