THE ROLE OF MICROFINANCE BANKS IN FINANCING SMALL SCALE BUSINESS (A STUDY OF SOME SELECTED SSBS USING CLIMAX MICROFINACE BANK)
Abstract
The formal/traditional micro finance institution include: the Self-help Groups (SHGS), or
the rotating saving and Credit Associations (ROSCAs), and cooperative societies, while
the formal/modern Microfinance institutions include universal banks, community Banks
(Micro-MFIs), non-Government Organizations Microfinance Institutions (NGO-MFIs),
public sector poverty alleviation agencies, special microfinance schemes and Donor
Agencies. (Iganiga, 2008).
In this study the research design used is the survey method. It is used because the study
involves getting people's views on the roles of microfinance institutions in financing small
scale businesses. Under this design, the study will be limited to cross sectional descriptive
(Explanatory) design which according to Asika (2006) is geared towards collecting data
to answer research questions or explain the relationship among variables. Tie independent
variable to this study is credit advancement of SME? While change in performance of
SMEs, (SME) is the independent variable.
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