Micro Lending Market Worth to cross USD 307.89 MN By 2027

Posted On April 23, 2021     

The Global Micro Lending Market value is expected to grow by an impressive 12.5% of CAGR during the forecast period of 2021 to 2027. The market can grow to USD 307.89 MN by 2027 as per the report by Value Market Research.The growing trend of start-ups, small businesses, and home-based businesses in recent years is the primary trending factor for the micro-lending market. The increased rate of unemployment in the global economy and the rise in the number of individuals with bad credit or unable to obtain credit from banks due to a poor bank balance will benefit market growth.  The penetration of the internet and mobile banking for accessing financial services will expand this market. Microlending, considered the best solution for humanitarian aid, will positively impact the market. The World Bank, entirely in favor of microlending, will be a market booster. The archaic nature of the micro-lending products is a significant constraint to market growth.

Microlending is a process of granting small amounts of money to typically very poor fledgling or struggling entrepreneurs to encourage self-sufficiency. Microlenders are more interested in the passion and commitment of business owners than traditional banks.  Lenders receive interest on their loans and expect repayment of principal once the loan has matured. Many lenders can fund a single microloan or spread investment across a portfolio of microloans to diversify their risk exposure. Generally, microloans carry high interest rates as they are much riskier than other forms of borrowing and do not post collateral in case of default. It caters to the needs of the unemployed with capital, promotes self-employment, provides work opportunities to disadvantaged groups and gender biases.

The detailed research study "Global Micro Lending Market Report By Service Providers (Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions), Others), By End User (Solo Entrepreneurs & Individual, Micro Enterprises, Small Enterprises) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027"  assists in understanding the market dynamics with qualitative as well as quantitative data.

On the basis of Service Providers the market is segmented into Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions), Others. By End User the micro lending market is categorised as Solo Entrepreneurs & Individual, Micro Enterprises, Small Enterprises. The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the micro lending market.

The Report Segments Global Micro Lending Market -
By Service Providers

  • Banks
  • Micro Finance Institute (MFI)
  • NBFC (Non-Banking Financial Institutions)
  • Others

By End User

  • Solo Entrepreneurs & Individual
  • Micro Enterprises
  • Small Enterprises

By Region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East and Africa

Players Profiled In the Report:
51Give, Annapurna Finance Ltd, Al Amana Microfinance, Al-Barakah Microfinance Bank, Banco do Nordeste do Brasil S.A, Asirvad Microfinance Pvt. Ltd., Bandhan Financial Services Pvt. Ltd., BRAC, BSS Microfinance Ltd., Bank Rakyat Indonesia, BSS Microfinance Ltd., Grameen Foundation, Jamii Bora Bank, and Kiva.

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