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Microfinance Institutions (MFIs) in Latin America: Who Should Finance the Entrepreneurial Ventures of the Less Privileged?

In: New Challenges in Entrepreneurship and Finance

Author

Listed:
  • R. Cervelló-Royo

    (Universidad Politécnica de Valencia (UPV))

  • I. Moya-Clemente

    (Universidad Politécnica de Valencia (UPV))

  • G. Ribes-Giner

    (Universidad Politécnica de Valencia (UPV))

Abstract

The purpose of this paper is to study the relationship of the so-called microfinance in the entrepreneurial activity of small business entrepreneurs. To do this, the activity of microfinance institutions in Latin America is analysed, as a higher degree of this kind of activity has been reached in this continent. To this end, the current paper analyses the granting of small loans to micro-entrepreneurs who, due to the economic conditions in their countries, can not find jobs and decide to start their own small businesses or micro-enterprises to improve their own and their families standard of living. These entrepreneurs, lacking financial resources, are left outside the conventional banking system as such operations are too risky and expensive to be profitable. Therefore, microcredits stand as an alternative that prevents them from relying on predatory lenders whose extremely high interest rates do not allow to start new projects. This improvement is especially significant in the case of women.

Suggested Citation

  • R. Cervelló-Royo & I. Moya-Clemente & G. Ribes-Giner, 2015. "Microfinance Institutions (MFIs) in Latin America: Who Should Finance the Entrepreneurial Ventures of the Less Privileged?," Springer Books, in: Marta Peris-Ortiz & Jean-Michel Sahut (ed.), New Challenges in Entrepreneurship and Finance, edition 127, chapter 0, pages 235-245, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-08888-4_17
    DOI: 10.1007/978-3-319-08888-4_17
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    Citations

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    Cited by:

    1. Ribes-Giner, G. & Moya-Clemente, I. & Cervelló-Royo, R. & Perello-Marin, M.R., 2018. "Domestic economic and social conditions empowering female entrepreneurship," Journal of Business Research, Elsevier, vol. 89(C), pages 182-189.
    2. Roberto Cervelló-Royo & Francisco Guijarro & Victor Martinez-Gomez, 2019. "Social Performance considered within the global performance of Microfinance Institutions: a new approach," Operational Research, Springer, vol. 19(3), pages 737-755, September.
    3. Cervelló-Royo, R. & Moya-Clemente, I. & Perelló-Marín, M.R. & Ribes-Giner, G., 2020. "Sustainable development, economic and financial factors, that influence the opportunity-driven entrepreneurship. An fsQCA approach," Journal of Business Research, Elsevier, vol. 115(C), pages 393-402.
    4. G. Ribes-Giner & I. Moya-Clemente & R. Cervelló-Royo & M. R. Perello-Marin, 2019. "Wellbeing indicators affecting female entrepreneurship in OECD countries," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(2), pages 915-933, March.

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