Muhammad Yunus Quotes

Making loans accessible to millions of the previously unbankable customers is a noble goal. Getting them hooked to such loans isn't.

The invention of the micro-loan was a big surprise to me. Who would have guessed loans of less than $20 made to poor people in undeveloped countries could create thriving local economies? And, even more surprisingly, that they more reliably pay off their debts than the wealthy of the world.

Because microfinance is so manageable in terms of the size of the loan, people have made it the cornerstone to lifting women out of poverty.

I founded Grameen Bank to provide loans to those considered traditionally unbankable. Grameen Bank works with the poorest and often illiterate, providing uncollateralized micro-loans for tiny business enterprises by which they can lift themselves and their families out of poverty.

I wanted to give money to people like this woman so that they would be free from the moneylenders to sell their product at the price which the markets gave them - which was much higher than what the trader was giving them.

A number of non-banking finance companies have entered the rural microcredit market. Many microcredit agencies have been charging interest rates not very dissimilar to those charged by moneylenders. Borrowing then becomes more to meet pressing consumption needs, rather than for farming or small-scale enterprises.

The Microfinance segment is a challenging client servicing space and thus requires a great amount of dedication, integrity and teamwork.

There are hundreds of millions of people around the globe who could safely repay loans but nonetheless do not have access to a line of credit. Financial institutions in developing economies are broken and inefficient, and hard-working people have not been given the chance to establish a credit history.

My financial service business is the absolute best thing I have done to empower the poor. I run many charities and fight many political causes, but my financial service company is the greatest gift I've given.

I went to the bank and proposed that they lend money to the poor people. The bankers almost fell over.

Microfinance does not require previous experience or loans to the same extent as a small-business loan, so it's easier for women to enter the micro sector.

I had no idea that I would ever get involved with something like lending money to poor people, given the circumstances in which I was working in Bangladesh.

Microcredit has shown how you can reach out to people that conventional banking cannot. It has demonstrated that it's a doable proposition.

Rent-to-own provides a vital service to millions of Americans. It is also critical for African-Americans, Latinos and other minorities to have access to alternative products and services, such as rent-to-own.

What attracted me towards microfinance is it's a very sustainable business, which has an impact on people's lives yet it can be very profitable.

Microfinance recognizes that poor people are remarkable reservoirs of energy and knowledge, posing an untapped opportunity to create markets, bring people in from the margins and give them the tools with which to help themselves.

Microfinance is an idea whose time has come.

The moment you say microfinance everybody wants to help you.

A well-functioning microfinance bank can actually be a profitable business as well. So it became a perfect proof point that, through business, you can provide an experience that leads to individual self-empowerment.

Technologies, including cell phones, have the potential to help millions of poor people out of poverty by enabling access to a range of safe, affordable financial services - most importantly, savings accounts - that have long been out of reach.

Lenders, including major credit companies as well as payday lenders, have taken over the traditional role of the street-corner loan shark, charging the poor insanely high rates of interest.

They explained to me that the bank cannot lend money to poor people because these people are not creditworthy.

I think that people need to become more educated about money. We need to stop creating systems that benefit only the most-cutthroat sharks.

Making loans and fighting poverty are normally two of the least glamorous pursuits around, but put the two together and you have an economic innovation that has become not just popular but downright chic. The innovation - microfinance - involves making small loans to poor entrepreneurs, usually in developing countries.

It is critical that low-income consumers have access to alternative products and services such as rent-to-own. It gives working-class families opportunities to obtain decent household items without incurring the burden of debt.