Microfinance Revolution Chapter 3: Voices of the Clients

What do Clients have to say? Via stories, Robinson addresses these 5 questions in regards to the effects of microfinance: Do people understand microfinance products and can they use them? Can microfinance help the economically active poor expand/diversify their enterprise and increase income? Can access to microfinance improve quality of life? Can access to microfinance help the economically poor in times of severe household difficulty? Can microfinance improve the self-confidence of clients?

Success Stories 1. Able to explain the complexities of different financial products, interest rates, and how they relate to their personal circumstance. 2. Bulk purchasing, access to transport, tools, space, enterprise diversification are typical ways in which people are able to increase profit and expand business. 3. Creating healthy policies influence conditions within the home (i.e. domestic abuse). Increased income allows for higher education, means for health care and healthy living. 4. Microsavings and loans helped people get through crises like single parenthood, loss of employment, and economic collapse. 5. Confidence is built from freedom from debt, access to education, successful careers, financial independence for women, and ability to provide and care for loved ones.

Which leaves us asking... How common are these types of experiences? What facilitates people achieving success? Or conversely, what prevents people from being able to have these types of experiences within microfinance?