By Kevin Henderson, KF11, Mongolia
“What is microfinance?” I’ve been asked this question a lot during my time as a Kiva Fellow. I used to answer by saying “microfinance is extending credit to people who do not have access to the traditional financial system” then remembering Kiva Fellows training I would add, “but not just credit, it’s providing other financial services, too.”
I think because Kiva is a lending platform and the field partner I primarily work with in Mongolia, Credit Mongol, is exclusively a lending institution*, it’s easy to forget about the “other”...
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