Loan Application Software
SPRINGBOARD FINANCIAL SERVICES | DEVELOPMENT OF LOAN APPLICATION SOFTWARE (LAS) | A CASE STUDY FOR SPRING BOARD FINANCIAL SERVICES |
MICHAEL YARTEY AND SETSOAFIA O.M. SELASSIE
[Pick the date] |
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND
A good definition of microfinance as provided by Robinson, Marguerite S. is; ‘Microfinance refers to small-scale financial services for both credits and deposits that are provided to people who farm or fish or herd; operate small or microenterprises where goods are produced, recycled, repaired or traded, provide services, work for wages or commissions, gain income from renting out small amounts of land, vehicles, draft animals, or machinery and tools and to other individuals and local groups in developing countries, in both rural and urban areas.
From the above definition by Robinson, S. it can be said that Microfinance aims to bridge the gap between the rich and the poor in the society. Unlike many commercial banks, whose main aim and target market is the rich and influential amongst society, Microfinance Institutions (MFIs) aim at providing financial services to the poor and under privileged members of society.
The operations of MFIs in an economy are necessary as they serve as a method to alleviate and reduce poverty in a country. Again, the operations of MFIs have helped bring out many people from the poverty class into the middle income class. The impact of MFIs can be measured by the poverty reduction rate of an economy. MFI operations constitute a major contributive factor in many economies for the empowerment of women and poverty alleviation.
Microfinance activist, Taylor Akins states that; the majority of people he interviewed had a positive testimony on the credit services provided to them by MFIs, this shows the positive role MFIs play in any economy. The MFI impact is a slow, yet promising process.
1.2 PROBLEM DEFINITION
Spring Board Micro Financial Services is looking to significantly increase
MICHAEL YARTEY AND SETSOAFIA O.M. SELASSIE
[Pick the date] |
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND
A good definition of microfinance as provided by Robinson, Marguerite S. is; ‘Microfinance refers to small-scale financial services for both credits and deposits that are provided to people who farm or fish or herd; operate small or microenterprises where goods are produced, recycled, repaired or traded, provide services, work for wages or commissions, gain income from renting out small amounts of land, vehicles, draft animals, or machinery and tools and to other individuals and local groups in developing countries, in both rural and urban areas.
From the above definition by Robinson, S. it can be said that Microfinance aims to bridge the gap between the rich and the poor in the society. Unlike many commercial banks, whose main aim and target market is the rich and influential amongst society, Microfinance Institutions (MFIs) aim at providing financial services to the poor and under privileged members of society.
The operations of MFIs in an economy are necessary as they serve as a method to alleviate and reduce poverty in a country. Again, the operations of MFIs have helped bring out many people from the poverty class into the middle income class. The impact of MFIs can be measured by the poverty reduction rate of an economy. MFI operations constitute a major contributive factor in many economies for the empowerment of women and poverty alleviation.
Microfinance activist, Taylor Akins states that; the majority of people he interviewed had a positive testimony on the credit services provided to them by MFIs, this shows the positive role MFIs play in any economy. The MFI impact is a slow, yet promising process.
1.2 PROBLEM DEFINITION
Spring Board Micro Financial Services is looking to significantly increase
References: 1. Ali Ahmad (2005). 2. E. Clemons (1986), J. O’Brien (1999). 3. Kozak (2005) 4 5. Ramesh (2001). 6. Katuramu Absolom (2007) 7