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    Thread: What is an MFI? Are all MFI's non-profit?

    1. #11
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      Default Re: What is an MFI? Are all MFI's non-profit?

      Micro Finance Institutions (MFI) :
      Is financial service provider institutions for small and micro entrepreneurs and serve as development tools for rural communities. MFI (Micro Finance Institutions) are developed based on the spirit to help and facilitate the poor both for the consumptive and productive activities of the poor families. In an effort to encourage community empowerment, especially middle and lower income earners and micro businesses, comprehensive support from financial institutions is needed. With the existence of MFIs, middle and lower businesses and small businesses (micro enterprises) get funds to be able to develop businesses to be more developed.

      All MFI's non-profit :
      Basically MFI (Micro Finance Institutions) aims to help small businesses (micro businesses) so that profits for MFI's will not take the largest for loan funds. This does not mean that all MFI's are non-profit but still make profit, it's just profit generated not as a loan fund for commercial purposes.


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      Financial security is the ability of microfinance providers to cover all costs. According to United Nations resilience is a need to obtain a large number of people continuously.
      If MFIs still depend on donors with limited funds, they will only be able to get a limited number of people. Financial resilience is not an end of finance, but it is the only way to obtain a significant scale.

      We interpret microfinance as a provider of financial services intended for people with low income.
      I hope that understanding will change as soon as possible after the introduction of the provision of some of these services and additions to the formal financial system.

      At this time, access to many microfinance sources is available and unlimited in every capital market. So that it can get more customers and hopefully it can meet every gap of supply and demand.
      And most important is evidence of developments that show that the industry has been on a rapid increase in the past 30 years.


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      finance institution (MFI) is an organization established to offer†financial †services among other services to a large population that are mostly low income earners. About 80% of the micro finance institutions gives loans to their members as well as insurance services, deposits and many other services. The micro finance institutions are modelled after the conventional commercial banks but the only difference is that their own services is in a micro or smaller scale. As it stands today most of the micro finance institutions are established for the purpose of profits making because they are being established by individuals or a body of persons. Apart from the majority of the MFIs being established for the purpose of profits making some others are being established to help its members in poverty alleviation.


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      Microfinance initially had a limited definition - the provision of microloans to poor entrepreneurs and small businesses lacking access to bank and related services.

      Are all MFI's non-profits?

      No, not all MFIs are non-profit. Some MFIs focus on "profits", even though they maintain maximum service.


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      Micro finance institute (MFI) is an institute with a required service to give finance or loans in terms of money to the needy person on some eligiblity criteria and get the amount returned with some interest on it and also in installments. Also after getting all amount recovered, Microfinance company demands some more amount from the client and that amount may categorise them in good credit score sheet.
      Microfinancing is mainly seen as banking the unbanked. In simple terms its lending to people running very small business on an unsecured basis small amounts. Microfinance is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services.


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      Micro finance institutions are the banks for the grassroots who ensure that they have the basic access that is needed to make some transactions, the MFI are usually estimated to be worth so much money because the mainstream banks have refused to provide some very important information for people that are interested in doing business who don't have enough money to make this happen, whenever we are doing business with the micro finance bank, we need to be less worried because the risk is always low, the advantage they also have is that collateral is always minimal when it is the time to access a loan facility from them.


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