microlending

Meanings

• Noun

  A method of lending small amounts of money to individuals or groups who don't have access to traditional banking services.

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Variants

List of all variants of microlending that leads to same result
microelement , microelements

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Etymology

origin and the way in which meanings have changed throughout history.

Microlending is a modern term, originating in the late 20th century with the rise of microfinance institutions.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Microlending was popularized by Muhammad Yunus, who was awarded the Nobel Peace Prize in 2006 for his work in microfinance.

2. Microlending has been credited with helping lift millions of people out of poverty around the world.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Microfinance: A broader concept that includes microlending as well as other financial services provided to individuals or small businesses without access to traditional banking.

2. Microcredit: A specific type of loan provided through microlending, typically small in size and aimed at helping borrowers start or expand a business.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Microlending has gained significant cultural significance due to its impact on economic development, particularly in developing countries.

How to Memorize "microlending"

1. visualize
   

   - Imagine a small community where people come together to lend and borrow small amounts of money from each other, facilitated by a local microlending organization.

2. associate
   

   - Associate the term microlending with the idea of helping people in need gain financial independence through small loans.

3. mnemonics
   

   - Remember that microlending starts with 'mi' for micro and 'lending' for the act of loaning money.

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