Overview and Scope
Microlending refers to microfinance that supports enterprises by lending small amounts for business expansion. The primary advantage of microlending is that it allows borrowers to take loan who do not have the sufficient assets to act as a guarantee or simply do not want to risk their assets.
Sizing and Forecast
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 growth in the historic period can be attributed to financial inclusion initiatives, entrepreneurship and small businesses, poverty alleviation programs, community development, women’s empowerment.
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%. The growth in the forecast period can be attributed to digital financial services adoption, impact investing and social finance, emergence of fintech solutions, climate-smart lending, government support programs. Major trends in the forecast period include use of alternative data for credit assessment, employment of robotic process automation (RPA), focus on financial inclusion and rural microlending, flexible repayment models and microfinance products, regulatory framework development.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the microlending market in 2023. The regions covered in the microlending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The microlending market report table of contents includes:
1. Executive Summary
2. Microlending Market Characteristics
3. Microlending Market Trends And Strategies
4. Microlending Market – Macro Economic Scenario
5. Global Microlending Market Size and Growth
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32. Global Microlending Market Competitive Benchmarking
33. Global Microlending Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Microlending Market
35. Microlending Market Future Outlook and Potential Analysis
36. Appendix
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