1. a small loan, typically provided to entrepreneurs or low-income individuals in developing countries who lack access to traditional banking services
Usage: often used in development finance and poverty alleviation contexts

Examples

• The nonprofit organization provides microloans to women starting small businesses in rural areas.
• She received a microloan of $500 to purchase equipment for her tailoring shop.
• Microloans have helped thousands of entrepreneurs escape poverty by enabling them to start their own ventures.
• The bank expanded its microloan program to reach underserved communities.
• He used a microloan to buy inventory for his street food business.
• Microloans typically have lower interest rates than traditional personal loans for borrowers in developing nations.