Microfinance Clients In Groups Report Better Experience Than Individual Borrowers
By Anne Field
Micro entrepreneurs in developing countries who take out loans from microfinance organizations as members of a group are more satisfied with their experience than individual borrowers. And microfinance clients typically are more confident in their ability to fund an emergency expense than the population as a whole.
That’s one of the early insights from a preliminary look at the latest Microfinance Index (MFI), a survey of microfinance clients conducted by impact measurement company 60 Decibels. With data from over 32,000 microfinance clients in Africa, Asia and Latin America served by more than 115 financial services providers, the final report isn’t due out for two months or so.