SHGs (which is what you’re talking about, also called SBLP in some places) are not a majority, their lenders/borrowers are often people within the same marginalized group, and it is very slow, so people tend to avoid them. MFIs dominate the microloan industry, and they’re very exploitative.
SHGs (which is what you’re talking about, also called SBLP in some places) are not a majority, their lenders/borrowers are often people within the same marginalized group, and it is very slow, so people tend to avoid them. MFIs dominate the microloan industry, and they’re very exploitative.
Thanks for the info! I didn’t think they were widespread, but figured they might be a bit wholesome and would light up this thread :)