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- Rise in adoption of micro lending in developing nations for improving lifestyle
, shift from traditional lending to micro lending, and lesser operating cost and low market risks fuel the growth of the global micro lending market.
PORTLAND, Ore., Jan. 19, 2021 /PRNewswire/
Allied Market Research published a report titled, Micro lending Market by Service Provider (Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions) and Others), and End User (Solo Entrepreneurs & Individual, Micro Enterprises and Small Enterprises): Global Opportunity Analysis and Industry Forecast, 2020–2027. According to the report, the global micro lending industry was estimated at $134.35 billion in 2019, and is expected to hit $343.84 billion by 2027, registering a CAGR of 12.6% from 2020 to 2027.