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What are the innovative financial strategies adopted by microfinance companies to stay in business?
Wiki User
∙ 11y ago
The financial strategies adopted by microfinance companies include forming of co-operative society among the recipients and the credit amount is disbursed in the name of the society.The society members are liable to repay their instalment amount within a specified period of time, and the interest amount is equally disbursed among the other members not opting for loan. In this way the members can utilise the loan amount for their own small business,what they could not have raised from bank without adequate security. Simultaneously, the fund of the society grow and all the members are equally benefited. By adopting this strategy, the Micro Credit by Bangladesh Gramin Bank has revolutionized the rural economy of Bangladesh and made womenfolk to stand on their own feet.
Wiki User
∙ 11y ago
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