microloan

noun

mi·​cro·​loan ˌmī-krō-ˈlōn 

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

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

There are microloans, which are done through microlenders. —I.c. Murrell, Arkansas Online, 10 Sep. 2023

Word History

First Known Use

1988, in the meaning defined above