DefinePK

Abstract

This study analyses the major sources of microfinance credit and its impact on economic conditions, social developments and terms and conditions on which microfinance credit facilities are provided to entrepreneurs and social entrepreneurs. This study further analyses that   how terms and conditions of credit can be improved and how they can contribute in social and economic developments. SPSS is used to identify the impact of microfinance credit on various economic and social variables. The analysis of data using the survey we had done, demonstrates main roles of Micro Finance Institutions that are filling the needed gap by offering loans and financial services within the industry, through the conducted survey results that 40% of respondents strongly agree and 150 of the respondents agree that MFIs are helpful in this prospective . Most of the people started their business by taking loan from MFIs as compared to other sources. They were able to increase their income and provided not only with the financial help to their families but also had positive impact on other factors of daily life.