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Microloans, Macro Impact, Kelly M. Frank

Senior Honors Projects

Nearly half of today’s population is living in poverty, meaning that they are living on less than $2.50 a day. The lack of capital creates a vicious cycle for those in poverty. The less fortunate do not have sufficient access to education, healthcare, proper nutrition and loans. This forces those living in poverty to focus on getting by one day at a time instead of looking to the future. Those with a lack of sufficient income can’t get access to loans because of the risk associated with lending to subprime borrowers.

However, microfinance loans change this. They are unique because …