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The idea of microfinance is thus to introduce the poor to capitalism.
Muhammad Yunus, the Nobel prize winner who developed the idea of microfinance, argues that social enterprises should be "at least as well managed as any profit-maximising business".
Popularised by Yunus and Grameen Bank in Bangladesh, the idea of microfinance has spread all over the world, amassing powerful backers, such as Barack Obama.
The idea of microfinance as a panacea is such a problem, because if you look at the websites of the different organizations, you would have no idea of their underlying philosophical approach.
The idea of microfinance can be traced back to 15th century when the Franciscan monks founded the community-oriented pawnshops.
The story of Grameen Bank is now the stuff of legend, and it is closely intertwined with the history of the idea of microfinance itself.
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She was working for a technology startup at the time, and came up with the idea of combining a microfinance charity with an online lending platform.
As much as he admired Yunus's belief that anyone, provided the means, can become self-sufficient — even successful — he has a different idea about the future of microfinance.
Shah developed the idea of online giving through microfinance and left PayPal in October 2005 to start Kiva.org.org
During that weekend at Doerr's, Omidyar told me later, he was most impressed by the notion of "sustainability," and by the idea that microfinance could help millions of poor people.
The idea rocketed in popularity across Bangladesh and the concept of microfinance was adopted by other countries.
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