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Microfinancing means financing that provides access to small loans (micro-credits) to families with low incomes in order to enable starting a business or maintaining current business activities through which family members earn income.
Microfinance represents a sustainable model of lending that should meet the financial needs of the poor and marginalized segments of society. The importance of micro-credit was highlighted in 1970 through the efforts of Muhammad Yunus, a microfinance pioneer and founder of the Grameen Bank in Bangladesh.
His efforts to create economic and social development of societies through microfinance received his recognition through the awarding of the Nobel Prize in 2006.
A microfinance institution (MFI) is an organization that provides financial services to low-income families. Despite the fact that each Microfinance organization is different, all Microfinance organizations share a common feature in terms of providing financial services to a clientele that is more vulnerable and marginalized than the classic banking clientele.
 
The person who runs a small business or micro enterprise. These businesses usually involve fewer than 5 people and may be based outside the household. Such businesses can represent the only source of family income or supplement other types of income in the family.
Typical micro entrepreneurial businesses include retail kiosks and colonials, sewing workshops, carpentry shops, market stalls and the like.
 
For economies to grow and prosper, women must be included at every level. This is especially true in most developing countries where women constitute the majority of poverty, unemployment and social and economic marginalization.
Research shows that women tend to invest the money they earn in their families, education and households which over time strengthen and stabilize the social and economic aspects of their communities.
 
The inclusion of interest is necessary to create a self-financing, sustainable and viable credit program that will continue to generate more capital that would allow more people to have access to credit.