A major accomplishment of development finance in recent years has been the expansion of the supply of financial services for the poor. Little information exists, however, about the extent to which microfinance actually reaches the poor. This study analyzed a sample of clients served by five...

This paper presents and interprets descriptive statistics generated from data obtained in a survey of clients of five microfinance organizations believed to be among the best in Bolivia. These lenders represent different combinations of organizational design, lending technology, and market area...

The initial success of microfinance programs in the 1970s led pioneers to think that many essential problems of the poor might be resolved by access to credit alone the ability to acquire assets, to start businesses, to finance emergency needs and to insure against illness and disaster. Part of...

This paper provides an overview of the microfinance industry in developing countries. It highlights the early development of the concept of microfinance and identifies some of the key issues and debates concerning its performance in terms of outreach, sustainability, and impact. Studies are...

We construct a theoretical framework that puts the social worth of a microfinance organization (MFO) in terms of the depth, worth to users, cost to users, breadth, length, and scope of its output. We then analyze evidence of depth of outreach for five MFOs in Bolivia. Most of the poor households...

Repeat borrowing is critical for the long-term financial viability of microfinance institutions (MFIs), which provide financial services to low-income households in developing countries. Repeat borrowers reduce MFI administrative costs, lower risks, and increase institutional productivity. In...

This paper focuses on the difficulties inherent in the prudent management of growth of microfinance organizations and on potential limits to the increased efficiency, profitability, and sustainability expected from growth and large size. The paper addresses both positive and negative...

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