Micro lending also called as micro finance is a type of banking service provided to low-income individuals, group, or unemployed people who do not have any other access to financial services. In addition, like conventional loan lenders micro lenders also charge interest on loan provided to the borrowers. Furthermore, various individuals are taking micro loans for setting up their business and to create job opportunity for other people as well as to boost the economy of the country. In addition, micro lending is a major source of financial service in the developing countries of LAMEA.
Surge in adoption of micro lending in the developing nations for improving lifestyle and lesser operating & low market risk of micro lending significantly boosts the growth of the global micro lending market. In addition, rise in potential of entrepreneurs, to bring in more businesses and to start from zero level with less capital support positively impacts the growth of the market. However, small loan amount provided by micro lenders and shorter repayment time provided by lenders are expected to hamper the market growth. On the contrary, adoption of advance technology in micro financing is expected to provide lucrative opportunity for the market.
The global micro lending market is segmented into service provider, end user, and region. In terms of service providers, the market is fragmented into banks, micro finance institute (MFI), NBFC (non-banking financial institutions) and others. Depending on end user, it is classified into solo entrepreneurs & individual, micro enterprises and small enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the micro lending market analysis are Accion International, BlueVine, Inc., Fundera, Inc., Funding Circle, Kabbage, Inc., Kiva, Lendio, LENDR, OnDeck, and StreetShares, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of global micro lending market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global market is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.
Key Market Segments
By Service Providers
- Banks
- Micro Finance Institute (MFI)
- NBFC (Non-Banking Financial Institutions)
- Others
By End User
- Solo Entrepreneurs & Individual
- Micro Enterprises
- Small Enterprises
By Region
- North America
o U.S.
o Canada
- Europe
o UK
o Germany
o France
o Italy
o Spain
o Netherlands
o Rest of Europe
- Asia-Pacific
o China
o India
o Japan
o South Korea
o Australia
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa
KEY MARKET PLAYERS
- Accion International
- BlueVine, Inc.
- Fundera, Inc.
- Funding Circle
- Kabbage, Inc.
- Kiva
- Lendio
- LENDR
- OnDeck
- StreetShares, Inc.