article thumbnail

A Newbie’s Guide To Microfinancing

YoungUpstarts

The concept and first implementation of modern microfinancing is generally credited to Dr. Mohammad Yunus who, back in the 1970s, began lending to impoverished women in Jobra, Bangladesh, while teaching economics at Chittagong University. He went on to found the aforementioned Grameen Bank (“Grameen” means “village” in Bengali).