microloan

noun

mi·​cro·​loan ˌmī-krō-ˈlōn How to pronounce microloan (audio)
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

Examples of microloan in a Sentence

Recent Examples on the Web Scale Link provides microloans from financial institutions for community development. Chase Jordan, Charlotte Observer, 14 May 2024 Members divide the income after their children’s school fees are paid and microloans are made to those wanting to start other small businesses. Cameron Pugh, The Christian Science Monitor, 10 Apr. 2024 While it’s based in Santa Monica, California, the company makes microloans to customers with little or no formal borrowing history in the Philippines, Mexico, Kenya and India, using their smart phone data to judge risk. Rina Torchinsky, Forbes, 13 Feb. 2024 Startups addressing specific local challenges, such as remittances, microloans, and digital payments, are well-positioned for growth. Zennon Kapron, Forbes, 9 Feb. 2024 Today, the Lakota Fund, which provides microloans and other services for artists, is based at the Artspace and offers workshops and coaching sessions on how to run a business. Patricia Leigh Brown, New York Times, 9 Jan. 2024 Proponents argued that small microloans to those without steady employment or good collateral could help encourage entrepreneurship among poorer populations, as customers used the funds to start micro- and small-sized enterprises. Lionel Lim, Fortune Asia, 3 Jan. 2024 This international culinary and retail marketplace is comprised of stalls owned by immigrants and refugees who were granted a microloan by Buffalo’s Westminster Economic Development Initiative (WEDI). Wendy O'Dea, Travel + Leisure, 13 Dec. 2023 During its bimonthly meeting on Tuesday, the city council voted unanimously to conditionally allocate the funding for a low-interest, microloan program following a presentation from City Manager Graham Mitchell. Lauren J. Mapp, San Diego Union-Tribune, 26 Oct. 2023

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'microloan.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1988, in the meaning defined above

Time Traveler
The first known use of microloan was in 1988

Dictionary Entries Near microloan

Cite this Entry

“Microloan.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/microloan. Accessed 17 Jun. 2024.

Last Updated: - Updated example sentences
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