What is Microfinance?

Microfinance entails providing financial services to low-income entrepreneurs that lack the access to traditional banking institutions and credit.  These people are waiting to be integrated into the world market, but have yet to be offered viable institutions that would help them.

Microfinance, a concept that has been around for the last four decades, has achieved an international level of recognition in recent years. Organizations across the globe have made strides towards alleviating financial woes for the millions who live below the poverty line through the principles of microfinance. These programs have succeeded in aiding those without access to traditional sources of capital funding, overcoming the common misconception that those who lack collateral are not worthy of credit. Through the use of techniques such as group and dynamic lending, which both result in very high repayment rates in developing nations, microfinance institutions have shown the world that the poor may in fact be the most creditworthy of all.

Who is the Bentley Microfinance Group?

Bentley Microfinance Group is a student run, non-profit organization that gives students the chance to broaden their knowledge of micro-finance, as well as allow them to acquire hands-on experience within the field. An honors finance class at Bentley University has paved a way for an innovative financing initiative: a domestic microfinance organization that will fuel economic and community development by providing loans of $1,500 to $6,000 to local entrepreneurs at or below the poverty level.  Students enrolled in Seminar in Micro Lending developed a working model for the Bentley Microfinance Group after researching microfinance   successes and failures both abroad and domestically to create a framework that could operate in Greater Boston. The fund is being financed by donations from alumni and parents and has an initial equity line of $125,000 on its way to a total loan portfolio of $300,000.

What is the Global Microfinance Summit?

The Global Microfinance Summit is an event that will educate Bentley students, staff, faculty, friends, family, and the Greater Boston area about the values of microfinance.  Speakers from all over the world will share their knowledge of Microfinance, their experiences from working in the field, and the virtues of giving back to the community.  Our theme this year, Investing in India’s Underprivileged, will focus on the micro-lending that is thriving in this developing nation.  This event will allow students to be informed of possible career paths in non-profit organizations and the social sectors of banking industries.  Networking opportunities will also be provided to students during the lunch and the network sessions.