microloan

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noun mi·cro·loan \¦mī-krō-¦lōn\

Definition of microloan

plural

microloans

  1. :  a small loan typically for financing entrepreneurial projects by impoverished individuals and groups especially in poor or developing regions After Muhammad Yunus, the Nobel-winning founder of Grameen Bank, began making microloans to women in poor countries so that they could buy revenue-producing assets like cows and goats, he was approached by a Bangladeshi expat living in the U.S. named Iqbal Quadir. — Sara Corbett, The New York Times Magazine, 13 Apr. 2008

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1988

First Known Use of microloan

1988


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