What is MCMA?
Micro Crédit Micro Action (MCMA) is a French non-profit organisation created in 2014, whose goal is to prove micro-credit loans overseas. As a result of the organisation, the past 4 years has seen 40,000km crossed, with support provided to over 600 micro-entrepreneurs across 30 countries, and a total of over £250,000 given in loans.
What is Microfinance?
Microfinance, the concept of providing services to support the growth of small businesses, is still a relatively unknown concept around the world. Originally initiated in 1970 by Muhammad Yunus, whose first advisor -Profer Latifee- is a supporter of MCMA. It quickly became popular in the mid-1970s in Bangladesh and parts of Latin America. This process consists of providing access to credit to those excluded from formal financial services. This credit is based on trust, so MicroFinance Institutions (MFIs) do not require a bank guarantee. The credit granted is intended for people called micro-entrepreneurs wishing to set up a business. MFIs also offer support services and training.