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Global Microlending Market Current Trends, Growth Opportunities, Business Insights (2024-2033)
Global Microlending Market
As per the report, the microlending market size has grown rapidly in recent years. It will grow from $190.29 billion in 2023 to $214.96 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The microlending market size is expected to see rapid growth in the next few years. It will grow to $345.4 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%.
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The Rising Demand For Microlending Transforming Small And Medium Enterprises
The rising need for micro-lending among end-users, including micro-enterprises and small enterprises is expected to propel the growth of the microlending market going forward. Small and medium enterprises are organizations whose personnel and revenue numbers are below certain limits. Microlending helps small and medium enterprises to grow through small-dollar lending and helps them to prosper in their business. For instance, according to the world bank, a US-based international financial institution, and estimates of The International Finance Corporation (IFC), a member of the world bank group, it is estimated that approximately 65 million firms, and 40% of formal micro, small and medium enterprises (MSMEs) in developing countries, are in financial need of $5.2 trillion every year, which is equal to 1.4 times the current level of the global MSME lending. Further, MSME Growth, Innovation, and Inclusive Finance Project improved access to finance for MSMEs in India, which aims in lending $1.5 billion to startups by 2025. Therefore, rising demand for micro-lending among end-users, including micro-enterprises and small enterprises drives the microlending market.
Strategic Partnerships In The Microlending Market For Microbusinesses And Mfis
Major companies operating in the microlending market are adopting a strategic partnership approach to support microbusinesses and microfinance institutions. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in March 2021, The Microfinance Centre (MFC), a Poland-based finance network, partnered with Mastercard Inc., a US-based credit card company. The partnership will empower microfinance institutions to undergo a transformative shift, embracing and integrating digitization. This groundbreaking partnership aims to aid over 90 microfinance institutions (MFIs) and enhance the economic resilience of 300,000 small businesses throughout Europe and Central Asia, addressing the challenges posed by the pandemic.
The microlending market covered in this report is segmented -
1) By Provider: Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions), Other Provider
2) By End-User: Small Enterprises, Micro Enterprises, Solo entrepreneurs And self-employed
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Major companies operating in the microlending market report are Larsen and Toubro Ltd., ICICI Bank Ltd., Bajaj Finserv Ltd., HDB Financial Services Ltd., Bandhan Bank Ltd., LendingClub Corporation, Faulu Microfinance Bank Limited, MicroVest LLC, BlueVine Inc., Kiva Microfunds, Panamax Inc., Lendio Inc., Fusion Micro Finance Ltd., Accion International, Equitas Small Finance Bank Ltd., ESAF Small Finance Bank, Fincare Small Finance Bank Ltd., Ujjivan Small Finance Bank Ltd., Oakam Ltd., On Deck Capital Inc., Small Industries Development Bank of India, One Acre Fund, Samia African Microfinance Limited, FINCA International Impact Investments, Fonds National de Coopératives de Développement Economique et Sociale Agricole, Gray Ghost Ventures LLC, Elevar Equity LLC, Incofin Investment Management plc, ResponsAbility Investments AG, ImpactAssets Fund
Contents of the report:
1. Executive Summary
2. Microlending Market Report Structure
3. Microlending Market Trends And Strategies
4. Microlending Market - Macro Economic Scenario
5. Microlending Market Size And Growth
…..
27. Microlending Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Email: info@tbrc.info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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