My knowledge of “micro finance” is that it consists of loans of a maximum of a few hundred dollars extended to women’s entrepreneurial groups. Is this what Pajebal and the cooperatives do?
Although Pajebal does in fact lend such micro funds to female entrepreneurs through the cooperatives, Pajebal’s loans are not exclusively such. Pajebal lends to various entrepreneurial and business projects for both men and women, and we are also not opposed to lending for rural business projects that may or may not meet one’s definition of “micro.” Thus we prefer to be seen as a rural development finance institution rather than a micro finance one, even though almost all of our loans up to this point would be considered “micro” by U.S. business-lending standards. The idea is that we want to consider the varied spectrum of different development requests for financial backing, and after hearing them and analyzing them, determine if the financing and pay back is feasible, rather than prematurely locking ourselves into lending exclusively to one group.
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