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Developing a microfinance model to break the cycle of poverty

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  • Garrity, Peter
  • Martin, Christopher

Abstract

Multigenerational poverty is common in developing countries. Illiteracy, poor health, and unemployment compound a person’s ability to break the cycle of poverty. In this article, we break down the process of designing, testing, and implementing a microfinance model to help end multigenerational poverty in an impoverished refugee village in Uganda. We describe key decisions in developing the model and assess its effectiveness as an instrument in achieving this service objective. We believe our grassroots primary research can benefit many NGOs that might be contemplating lending programs in developing nations, as well as other collegiate institutions interested in implementing sustainable programs that allow students the opportunity to work on global issues in developing nations.

Suggested Citation

  • Garrity, Peter & Martin, Christopher, 2018. "Developing a microfinance model to break the cycle of poverty," Business Horizons, Elsevier, vol. 61(6), pages 937-947.
    • Handle: RePEc:eee:bushor:v:61:y:2018:i:6:p:937-947
    DOI: 10.1016/j.bushor.2018.07.002
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    References listed on IDEAS

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    1. UNDP Africa, 2016. "Africa Human Development Report 2016 Accelerating Gender Equality and Women’s Empowerment in Africa," UNDP Africa Reports 267638, United Nations Development Programme (UNDP).
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    Cited by:

    1. Morris, Michael H. & Santos, Susana C. & Neumeyer, Xaver, 2020. "Entrepreneurship as a solution to poverty in developed economies," Business Horizons, Elsevier, vol. 63(3), pages 377-390.
    2. Yi, Yaqun & Wang, Yunhui & Shu, Chengli, 2020. "Business model innovations in China: A focus on value propositions," Business Horizons, Elsevier, vol. 63(6), pages 787-799.

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