Micro Lending Market Size

Micro Lending Market size was over USD 150.1 billion in 2023 and is predicted to exceed USD 581.4 billion by the end of 2036, growing at over 10.1% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of micro lending is estimated at USD 183.3 billion.

Over the past two decades, the global microfinance industry has expanded quickly, taking the international financial sector by storm. There is a growing adoption of micro financing as many self-employed individuals and microenterprises in developing regions seek financial services that include microloans, microcredit, microinsurance, and money transfers. For instance, BRAC is one of the founding partners of the inaugural 60 Decibels Microfinance Index. The index report of BRAC Liberia Microfinance Company Ltd (BLMCL) published in 2022 showed the comparative social performance of 72 microfinance institutions (MFIs), based exclusively on the voices of nearly 18,000 clients. Collectively, these MFIs are serving more than 25 million clients in 41 countries, which is equivalent to more than 15% of all microfinance clients globally. Additionally, technological advancements, such as mobile banking and digital lending platforms, have also played a significant role by making financial services more accessible and efficient.