The aim of the paper is to introduce and clarify the financial and non-financial characteristics of microcredit programs based on a credit guarantee. We call these programs, which are widespread in Europe, Indirect Microcredit Programs (IMPs) because they use an indirect microcredit model. We...

This paper investigates the repayment behavior of borrowers of a nonprofit Indian microfinance institution, Indian Institute for Mother and Child, using a novel data set comprising approximately 20,000 installment records within the period April 2009-November 2012. Controlling for context...

Most Microfinance institutions (MFIs) worldwide focus their efforts in relieving the poor from financial constraints through micro-loans. This research focuses on integrating a money management and entrepreneurial training plan to a lending program in a non-profit MFI in Kolkata, India. The...

This paper contributes to a growing body of literature on microfinance institutions, where the equilibrium between social and financial sustainability is one of the hottest topics. However, the evidence regarding this relationship in the European microfinance sector is scarce. In the current...

A quasi-natural experiment has been carried out in which the Centre Meeting (CM) rules of some centres of a large Microfinance Institution (MFI) that offers microfinance services, in the form of group lending, were changed. The study has been carried out at the Small Enterprise Foundation (SEF),...

This paper contributes to a growing body of literature on microfinance institutions, where the equilibrium between social and financial sustainability is one of the hottest topics. However, the evidence regarding this relationship in the European microfinance sector is scarce. In the current...