Global Micro Lending Market, 2020-2027

2020
DECEMBER
MICRO LENDING MARKET

Global Opportunity Analysis and Industry Forecast, 2020-2027
AUTHOR(S):
Shadaab Khan
pramod Borasi &
vineet Kumar
PAGES:
192
REPORT CODE:
A06003
INDUSTRY:
BFSI
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Global Opportunity
Analysis and Industry
Forecast, 2020-2027
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Forecast, 2020-2027
3
RELATED REPORTS
Global P2P Lending Market - Opportunity Analysis and Industry Forecast, 2019-2026
The global peer to peer (P2P) lending market size was valued at $67.93 billion in 2019, and is projected to
reach $558.91 billion by 2027, growing at a CAGR of 29.7% from 2020 to 2027. Peer to peer lending deals
with the practice of lending loan to an individual from another individual without the involvement of bank or
financial institution. The key objective of P2P lending is to boost the returns for the lenders and to reduce the
rate of interest for the borrowers. In addition, it aids in providing quick and convenient loan, as P2P lending is
entirely an online platform.
Global Digital Lending Market - Opportunity Analysis and Industry Forecast, 2019-2026
The global digital lending platform market size was valued at $5.58 billion in 2019, and is projected to reach
$20.31 billion by 2027, growing at a CAGR of 16.7% from 2020 to 2027. Digital lending is a process of offering
loans, which are applied for, disbursed, and managed through digital platform. Digital lending platform enables
borrowers and lenders to lend money through paperless or electronic means, offering ease of use, enhanced
consumer experience, and reduced overhead through customer verification time savings.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
4
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION....................................................................................... 26
1.1. Report description .................................................................................................... 26
1.2. Key benefits for stakeholders .................................................................................. 27
1.3. Key market segments ............................................................................................... 28
1.4. Research methodology ............................................................................................ 31
1.4.1. Secondary research................................................................................................................ 33
1.4.2. Primary research ..................................................................................................................... 33
1.4.3. Analyst tools & models ........................................................................................................ 34
CHAPTER 2: EXECUTIVE SUMMARY............................................................................ 35

2.1. Key findings............................................................................................................... 38
2.1.1. Top impacting factors........................................................................................................... 38
2.1.2. Top investment pockets ...................................................................................................... 39

Micro Lending
2.2. CXO perspective ........................................................................................................ 40
Market
Global Opportunity CHAPTER 3: MARKET OVERVIEW ................................................................................ 41
3.1. Market definition and scope ................................................................................... 41
Forecast, 2020-2027
5
3.2. Key forces shaping global micro lending market .................................................. 42
3.2.1. Low-to-Moderate bargaining power of suppliers .................................................... 42
3.2.2. Moderate-to-High bargaining power of buyers ....................................................... 43
3.2.3. Moderate-to-High threat of substitutes ....................................................................... 44
3.2.4. Low threat of new entrants ................................................................................................ 45
3.2.5. Low-to-Moderate competitive rivalry ............................................................................ 46
3.3. Market dynamics ...................................................................................................... 48

3.3.1. Drivers ......................................................................................................................................... 48
3.3.1.1. Increase in adoption of micro lending in developing nations for
improving lifestyle ..............................................................................................................48
3.3.1.2. Shift from traditional lending to micro lending ....................................................48
3.3.2. Lesser operating cost and low market risk .................................................................. 49
3.3.3. Restraint ..................................................................................................................................... 49

3.3.3.1. High interest on small amount and shorter repayment time
Micro Lending provided by micro lenders..............................................................................................49
Market 3.3.4. Opportunities ........................................................................................................................... 50
Global Opportunity
Analysis and Industry 3.3.4.1. Adoption of advance technology in micro financing .........................................50
Forecast, 2020-2027
6
3.4. COVID-19 impact analysis on micro lending market ............................................ 51
3.4.1. Impact on market size .......................................................................................................... 51
3.4.2. Consumer trends, preferences, and budget impact ................................................ 52
3.4.3. Regulatory framework .......................................................................................................... 52
3.4.4. Economic impact .................................................................................................................... 53
3.4.5. Key player strategies to tackle negative impact ........................................................ 53
3.4.6. Opportunity window ............................................................................................................. 54
CHAPTER 4: MICRO LENDING MARKET, BY PROVIDER ........................................... 55

4.1. Overview .................................................................................................................... 55
4.2. Banks .......................................................................................................................... 57
4.2.1. Key market trends, growth factors, and opportunities ........................................... 57
4.2.2. Market size and forecast, by region ............................................................................... 58
4.2.3. Market analysis by country ................................................................................................. 59

Micro Lending 4.3. Micro finance institute ............................................................................................. 60
Market 4.3.1. Key market trends, growth factors, and opportunities ........................................... 60
Global Opportunity
Forecast, 2020-2027 4.3.3. Market analysis by country ................................................................................................. 62
7
4.4. Non-banking financial institutions (NBFC) ............................................................ 63
4.5. Others ........................................................................................................................ 66

4.5.3. Market analysis by country................................................................................................. 68
CHAPTER 5: MICRO LENDING MARKET, BY END USER ............................................ 70

5.1. Overview .................................................................................................................... 70
5.2. Small Enterprises....................................................................................................... 72

Micro Lending 5.2.3. Market analysis by country ................................................................................................. 74
Market 5.3. Micro Enterprises ...................................................................................................... 75
Global Opportunity 5.3.1. Key market trends, growth factors, and opportunities ........................................... 75
Forecast, 2020-2027 5.3.2. Market size and forecast, by region ............................................................................... 76
8
5.4. Solo entrepreneurs & self-employed...................................................................... 78

CHAPTER 6: MICRO LENDING MARKET BY REGION................................................. 82

6.1. Overview .................................................................................................................... 82
6.2. North America........................................................................................................... 83
6.2.1. Key market trends, growth factors and opportunities ............................................ 83
6.2.2. Market size and forecast, by provider............................................................................ 84
6.2.3. Market size and forecast, by end user ........................................................................... 85
6.2.4. Market size and forecast, by country ............................................................................. 86
6.2.4.1. U.S. ............................................................................................................................................87

Micro Lending 6.2.4.1.1. Market size and forecast, by provider ................................................87
Market 6.2.4.1.2. Market size and forecast, by end user ................................................88
Global Opportunity 6.2.4.2. Canada ....................................................................................................................................90

Forecast, 2020-2027 6.2.4.2.1. Market size and forecast, by provider ................................................90
9
6.2.4.2.2. Market size and forecast, by end user ................................................91
6.3. Europe ........................................................................................................................ 93

6.3.1. Key market trends, growth factors and opportunities ............................................ 93
6.3.2. Market size and forecast, by provider............................................................................ 94
6.3.3. Market size and forecast, by end user ........................................................................... 95
6.3.4. Market size and forecast, by country ............................................................................. 95
6.3.4.1. France ......................................................................................................................................97

6.3.4.1.1. Market size and forecast, by provider ................................................97
6.3.4.1.2. Market size and forecast, by end user ................................................98
6.3.4.2. Spain ..................................................................................................................................... 100

6.3.4.2.1. Market size and forecast, by provider ............................................. 100
6.3.4.2.2. Market size and forecast, by end user ............................................. 101
6.3.4.3. Poland................................................................................................................................... 103

Micro Lending
Market
6.3.4.4. UK ........................................................................................................................................... 106
Global Opportunity
Analysis and Industry 6.3.4.4.1. Market size and forecast, by provider ............................................. 106
Forecast, 2020-2027
10
6.3.4.5. Germany .............................................................................................................................. 109
6.3.4.6. Rest of Europe................................................................................................................... 112

6.4. Asia-Pacific .............................................................................................................. 115

6.4.1. Key market trends, growth factors and opportunities .......................................... 115
6.4.2. Market size and forecast, by provider.......................................................................... 116
6.4.3. Market size and forecast, by end user ......................................................................... 117
6.4.4. Market size and forecast, by country ........................................................................... 118
6.4.4.1. China ..................................................................................................................................... 120


Micro Lending
6.4.4.2. Japan ..................................................................................................................................... 123
Market
Global Opportunity
Analysis and Industry 6.4.4.2.2. Market size and forecast, by end user ............................................. 124
Forecast, 2020-2027
11
6.4.4.3. India ....................................................................................................................................... 126
6.4.4.4. South Korea ....................................................................................................................... 129

6.4.4.5. Rest of Asia-Pacific .......................................................................................................... 132

6.5. LAMEA ..................................................................................................................... 135

6.5.1. Key market trends, growth factors and opportunities .......................................... 135
6.5.2. Market size and forecast, by provider.......................................................................... 136
6.5.3. Market size and forecast, by end user ......................................................................... 137
6.5.4. Market size and forecast, by country ........................................................................... 137

Micro Lending
6.5.4.1. Latin America ..................................................................................................................... 139
Market
Global Opportunity
Analysis and Industry 6.5.4.1.2. Market size and forecast, by end user ............................................. 140
Forecast, 2020-2027
12
6.5.4.2. Middle East ......................................................................................................................... 142
6.5.4.3. Africa ..................................................................................................................................... 145

CHAPTER 7: COMPETITIVE LANDSCAPE .................................................................. 148

7.1. Key players positioning analysis, 2019 ................................................................. 148
7.2. Competitive dashboard .......................................................................................... 150
7.3. Top winning strategies ........................................................................................... 153
CHAPTER 8: COMPANY PROFILES............................................................................. 157

8.1. ACCION INTERNATIONAL ...................................................................................... 157
8.1.1. Company overview .............................................................................................................. 157
8.1.2. Key Executives ........................................................................................................................ 158

Micro Lending
Market 8.1.3. Company snapshot .............................................................................................................. 158
Global Opportunity 8.1.4. Product portfolio .................................................................................................................. 159

Forecast, 2020-2027 8.1.5. Business performance......................................................................................................... 160
13
8.1.6. Key strategic moves and developments ..................................................................... 161
8.2. BLUEVINE INC. ........................................................................................................ 162

8.2.2. Key Executives ........................................................................................................................ 162
8.2.3. Company snapshot .............................................................................................................. 163
8.2.4. Product portfolio .................................................................................................................. 163
8.3. FUNDERA INC.......................................................................................................... 164

8.3.2. Key Executives ........................................................................................................................ 165
8.4. FUNDING CIRCLE .................................................................................................... 167

Micro Lending 8.4.1. Company overview .............................................................................................................. 167
Market 8.4.2. Key Executives ........................................................................................................................ 168
Global Opportunity 8.4.3. Company snapshot .............................................................................................................. 168
Forecast, 2020-2027 8.4.4. Product portfolio .................................................................................................................. 169
14
8.4.5. Business performance......................................................................................................... 170
8.5. KABBAGE INC. ......................................................................................................... 172

8.5.2. Key Executives ........................................................................................................................ 172
8.5.5. Business performance......................................................................................................... 174
8.6. KIVA. ........................................................................................................................ 176

8.6.2. Key Executives ........................................................................................................................ 176

Micro Lending 8.6.4. Product portfolio .................................................................................................................. 177
Market 8.6.5. Business performance......................................................................................................... 178
Global Opportunity
Forecast, 2020-2027
15
8.7. LENDIO..................................................................................................................... 180
8.7.2. Key Executives ........................................................................................................................ 181
8.8. LENDR ...................................................................................................................... 183

8.8.2. Key Executives ........................................................................................................................ 183
8.9. ONDECK ................................................................................................................... 185

Micro Lending 8.9.2. Key Executives ........................................................................................................................ 185
Market 8.9.3. Company snapshot .............................................................................................................. 186
Global Opportunity 8.9.4. Product portfolio .................................................................................................................. 186
Forecast, 2020-2027 8.9.5. Business performance......................................................................................................... 187
16
8.10. STREETSHARES, INC ............................................................................................... 189

8.10.2. Key Executives ........................................................................................................................ 190
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
17
LIST OF TABLES
TABLE 01. GLOBAL MICRO LENDING MARKET REVENUE, BY PROVIDER, 2019-2027($MILLION) ........................................56
TABLE 02. MICRO LENDING MARKET REVENUE FOR BANKS, BY REGION 2019-2027($MILLION) ......................................58
TABLE 03. MICRO LENDING MARKET REVENUE FOR MICRO FINANCE INSTITUTE BY REGION 2019-
2027($MILLION) ...............................................................................................................................................................61
TABLE 04. MICRO LENDING MARKET REVENUE FOR NON-BANKING FINANCIAL INSTITUTIONS (NBFC) BY
REGION 2019-2027($MILLION) .....................................................................................................................................64
TABLE 05. MICRO LENDING MARKET REVENUE FOR OTHER, BY REGION 2019-2027($MILLION) .......................................67
TABLE 06. GLOBAL MICRO LENDING MARKET REVENUE, BY END USER, 2019-2027($MILLION) ........................................71
TABLE 07. MICRO LENDING MARKET REVENUE FOR SMALL ENTERPRISES, BY REGION 2019-2027($MILLION) .............73
TABLE 08. MICRO LENDING MARKET REVENUE FOR MICRO ENTERPRISES, BY REGION 2019-2027($MILLION) .............76
TABLE 09. MICRO LENDING MARKET REVENUE FOR SOLO ENTREPRENEURS & SELF-EMPLOYED, BY REGION
2019-2027($MILLION) ....................................................................................................................................................79
TABLE 10. GLOBAL MICRO LENDING MARKET REVENUE, BY REGION, 2019–2027 ($MILLION) ..........................................83
TABLE 11. NORTH AMERICA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ..........................................85
TABLE 12. NORTH AMERICA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ..........................................85
Micro Lending TABLE 13. NORTH AMERICA MICRO LENDING MARKET, BY COUNTRY, 2019-2027($MILLION) ...........................................86
Market TABLE 14. U.S. MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) .................................................................88
Global Opportunity TABLE 15. U.S. MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ..................................................................89
Forecast, 2020-2027 TABLE 16. CANADA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) .........................................................91
18
TABLE 17. CANADA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) .........................................................92
TABLE 18. EUROPE MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)..........................................................94
TABLE 19. EUROPE MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ..........................................................95
TABLE 20. NORTH AMERICA MICRO LENDING MARKET, BY COUNTRY, 2019-2027($MILLION) ...........................................96
TABLE 21. FRANCE MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ..........................................................98
TABLE 22. FRANCE MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ..........................................................99
TABLE 23. SPAIN MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) .......................................................... 101
TABLE 24. SPAIN MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) .......................................................... 102
TABLE 25. POLAND MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ...................................................... 104
TABLE 26. POLAND MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ...................................................... 105
TABLE 27. UK MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ................................................................ 107
TABLE 28. UK MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ................................................................. 108
TABLE 29. GERMANY MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ................................................... 110
TABLE 30. GERMANY MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ................................................... 111
TABLE 31. REST OF EUROPE MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ...................................... 113
TABLE 32. REST OF EUROPE MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ....................................... 114
Micro Lending
TABLE 33. ASIA-PACIFIC MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION).............................................. 117
Market
TABLE 34. ASIA-PACIFIC MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) .............................................. 118
Global Opportunity TABLE 35. ASIA PACIFICMICRO LENDING MARKET, BY COUNTRY, 2019-2027($MILLION) ................................................ 119
Forecast, 2020-2027 TABLE 36. CHINA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) .......................................................... 121
19
TABLE 37. CHINA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) .......................................................... 122
TABLE 38. JAPAN MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION).......................................................... 124
TABLE 39. JAPAN MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) .......................................................... 125
TABLE 40. INDIA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ........................................................... 127
TABLE 41. INDIA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)............................................................ 128
TABLE 42. SOUTH KOREA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ........................................... 130
TABLE 43. SOUTH KOREA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ............................................ 131
TABLE 44. REST OF ASIA-PACIFIC MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ............................. 133
TABLE 45. REST OF ASIA-PACIFIC MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) .............................. 134
TABLE 46. LAMEA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ......................................................... 136
TABLE 47. LAMEA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ......................................................... 137
TABLE 48. LAMEA MICRO LENDING MARKET, BY COUNTRY, 2019-2027($MILLION) .......................................................... 138
TABLE 49. LATIN AMERICA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ......................................... 140
TABLE 50. LATIN AMERICA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ......................................... 141
TABLE 51. MIDDLE EAST MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ............................................. 143
TABLE 52. MIDDLE EAST MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ............................................. 144
Micro Lending
TABLE 53. AFRICA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION) ........................................................ 146
Market
TABLE 54. AFRICA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION) ........................................................ 147
Global Opportunity TABLE 55. ACCION INTERNATIONAL: KEY EXECUTIVES .............................................................................................................. 158
Forecast, 2020-2027 TABLE 56. ACCION INTERNATIONAL: COMPANY SNAPSHOT .................................................................................................... 158
20
TABLE 57. ACCION INTERNATIONAL: PRODUCT PORTFOLIO..................................................................................................... 159
TABLE 58. BLUEVINE INC..: KEY EXECUTIVES ............................................................................................................................. 162
TABLE 59. BLUEVINE INC.: COMPANY SNAPSHOT .................................................................................................................... 163
TABLE 60. BLUEVINE INC.: PRODUCT PORTFOLIO .................................................................................................................... 163
TABLE 61. FUNDERA INC: KEY EXECUTIVES ................................................................................................................................. 165
TABLE 62. FUNDERA INC: COMPANY SNAPSHOT ....................................................................................................................... 165
TABLE 63. FUNDERA INC: CORPORATION: PRODUCT PORTFOLIO ........................................................................................... 166
TABLE 64. FUNDING CIRCLE: KEY EXECUTIVES.......................................................................................................................... 168
TABLE 65. FUNDING CIRCLE: COMPANY SNAPSHOT ................................................................................................................ 168
TABLE 66. FUNDING CIRCLE: PRODUCT PORTFOLIO ................................................................................................................ 169
TABLE 67. KABBAGE INC.: KEY EXECUTIVES ................................................................................................................................ 172
TABLE 68. KABBAGE INC.: COMPANY SNAPSHOT ...................................................................................................................... 173
TABLE 69. KABBAGE INC.: PRODUCT PORTFOLIO....................................................................................................................... 173
TABLE 70. KIVA.: KEY EXECUTIVES................................................................................................................................................ 176
TABLE 71. KIVA.: COMPANY SNAPSHOT ...................................................................................................................................... 177
KIVA.: PRODUCT PORTFOLIO ...................................................................................................................................... 177

Micro Lending TABLE 72.
TABLE 73. LENDIO.: KEY EXECUTIVES ........................................................................................................................................... 181

Market
TABLE 74. LENDIO.: COMPANY SNAPSHOT .................................................................................................................................. 181
Global Opportunity
Analysis and Industry TABLE 75. LENDIO.: PRODUCT PORTFOLIO .................................................................................................................................. 182
Forecast, 2020-2027 TABLE 76. LENDR: KEY EXECUTIVES ............................................................................................................................................. 183
21
TABLE 77. LENDR: COMPANY SNAPSHOT .................................................................................................................................... 184
TABLE 78. LENDR: PRODUCT PORTFOLIO .................................................................................................................................... 184
TABLE 79. ONDECK : KEY EXECUTIVES ......................................................................................................................................... 185
TABLE 80. ONDECK: COMPANY SNAPSHOT ................................................................................................................................. 186
TABLE 81. ONDECK : PRODUCT PORTFOLIO ................................................................................................................................ 186
TABLE 82. STREETSHARES, INC: KEY EXECUTIVES ..................................................................................................................... 190
TABLE 83. STREETSHARES, INC: COMPANY SNAPSHOT............................................................................................................ 190
TABLE 84. STREETSHARES, INC: PRODUCT PORTFOLIO ............................................................................................................ 191
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
22
LIST OF FIGURES
FIGURE 01. KEY MARKET SEGMENTS ................................................................................................................................................30
FIGURE 02. MICRO LENDING MARKET SNAPSHOT, BY SEGMENT, 2019–2027 ........................................................................36
FIGURE 03. MICRO LENDING MARKET SNAPSHOT, BY COUNTRY, 2019–2027.........................................................................37
FIGURE 04. GLOBAL MICRO LENDING MARKET: TOP IMPACTING FACTORS...............................................................................38
FIGURE 05. TOP INVESTMENT POCKETS............................................................................................................................................39
FIGURE 06. MODERATE-TO- HIGH BARGAINING POWER OF SUPPLIERS .....................................................................................43
FIGURE 07. MODERATE-TO-HIGH BARGAINING POWER OF BUYERS ............................................................................................44
FIGURE 08. MODERATE-TO-HIGH THREAT OF SUBSTITUTES ..........................................................................................................45
FIGURE 09. MODERATE -TO -HIGH THREAT OF ENTRANTS .............................................................................................................46
FIGURE 10. MODERATE – TO -HIGHCOMPETITIVE RIVALRY ...........................................................................................................47
FIGURE 11. MICRO LENDING MARKET, BY PROVIDER, 2019-2027 .............................................................................................55
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR BANKS, BY COUNTRY, 2019 &
2027 (%) ............................................................................................................................................................................59
FIGURE 13. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET MICRO FINANCE INSTITUTE, 2019 &
2027 (%) ............................................................................................................................................................................62
Micro Lending
FIGURE 14. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET NON-BANKING FINANCIAL
Market INSTITUTIONS (NBFC), 2019 & 2027 (%) .....................................................................................................................65
Global Opportunity FIGURE 15. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR OTHERS, BY COUNTRY, 2019 &
Analysis and Industry 2027 (%) ............................................................................................................................................................................68
Forecast, 2020-2027
FIGURE 16. GLOBAL MICRO LENDING MARKET, BY END USER, 2019-2027 ..............................................................................70
23
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR SMALL ENTERPRISES, BY
COUNTRY, 2019 & 2027 (%) .........................................................................................................................................74
FIGURE 18. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR MICRO ENTERPRISES, BY
COUNTRY, 2019 & 2027 (%) .........................................................................................................................................77
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR SOLO ENTREPRENEURS & SELF
EMPLOYED, BY COUNTRY, 2019 & 2027 (%) ..............................................................................................................80
FIGURE 20. U.S. MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) .........................................................................87
FIGURE 21. CANADA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) .................................................................90
FIGURE 22. FRANCE MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) .................................................................97
FIGURE 23. SPAIN MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) .................................................................. 100
FIGURE 24. POLAND MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) .............................................................. 103
FIGURE 25. UK MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ........................................................................ 106
FIGURE 26. GERMANY MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ........................................................... 109
FIGURE 27. REST OF EUROPE MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) .............................................. 112
FIGURE 28. CHINA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) .................................................................. 120
FIGURE 29. JAPAN MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ................................................................. 123
FIGURE 30. INDIA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ................................................................... 126
Micro Lending
FIGURE 31. SOUTH KOREA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ................................................... 129
Market
FIGURE 32. REST OF ASIA-PACIFIC MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ..................................... 132
Global Opportunity
FIGURE 33. LATIN AMERICA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ................................................. 139
Forecast, 2020-2027 FIGURE 34. MIDDLE EAST MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ..................................................... 142
24
FIGURE 35. AFRICA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION) ................................................................ 145
FIGURE 36. KEY PLAYER POSITIONING ANLYSIS: GLOBAL MICRO LENDING MARKET .......................................................... 149
FIGURE 37. COMPETITIVE DASHBOARD ......................................................................................................................................... 150
FIGURE 38. COMPETITIVE DASHBOARD ......................................................................................................................................... 151
FIGURE 39. COMPETITIVE HEATMAP OF KEY PLAYERS ............................................................................................................... 152
FIGURE 40. TOP WINNING STRATEGIES, BY YEAR, 2018-2020 ................................................................................................. 154
FIGURE 41. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018-2020 ................................................................................ 155
FIGURE 42. TOP WINNING STRATEGIES, BY COMPANY, 2018-2020 ........................................................................................ 156
FIGURE 43. ACCION INTERNATIONAL : NET SALES, 2017–2019 ($MILLION), ......................................................................... 160
FIGURE 44. FUNDING CIRCLE: NET SALES, 2017–2019 ($MILLION), ....................................................................................... 170
FIGURE 45. FUNDING CIRCLE: REVENUE SHARE BY REGION(2019) ......................................................................................... 171
FIGURE 46. KABBAGE INC: NET SALES, 2017–2029 ($MILLION), ............................................................................................. 174
FIGURE 47. KIVA.: NET SALES, 2017–2019 ($MILLION) ............................................................................................................. 178
FIGURE 48. ONDECK : NET SALES, 2017–2019 ($MILLION), ..................................................................................................... 187
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
25
CHAPTER 1: INTRODUCTION
1.1. Report description
Micro lending also called as micro finance is a type of banking service provided to low-income individuals,
group, or unemployed people who do not have any other access to financial services. In addition, like
conventional loan lenders micro lenders also charge interest on loan provided to the borrowers. Furthermore,
various individuals are taking micro loans for setting up their business and to create job opportunity for other
people as well as to boost the economy of the country. In addition, micro lending is a major source of
financial service in the developing countries of LAMEA.
Surge in adoption of micro lending in the developing nations for improving lifestyle and lesser operating &
low market risk of micro lending significantly boosts the growth of the global micro lending market. In
addition, rise in potential of entrepreneurs, to bring in more businesses and to start from zero level with less
capital support positively impacts the growth of the market. However, small loan amount provided by micro
lenders and shorter repayment time provided by lenders are expected to hamper the market growth. On the
contrary, adoption of advance technology in micro financing is expected to provide lucrative opportunity for
the market.
Micro Lending
The global micro lending market is segmented into provider, end user, and region. In terms of provider, the
Market market is fragmented into banks, micro finance institute (MFI), NBFC (non-banking financial institutions) and
Global Opportunity others. Depending on end user, it is classified into solo entrepreneurs & individual, micro enterprises and
Forecast, 2020-2027 small enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
26
The key players profiled in the micro lending market analysis are Accion International, BlueVine, Inc., Fundera,
Inc., Funding Circle, Kabbage, Inc., Kiva, Lendio, LENDR, OnDeck, and StreetShares, Inc. These players have
adopted various strategies to increase their market penetration and strengthen their position in the industry.
1.2. Key benefits for stakeholders

 The study provides an in-depth analysis of the global micro lending market along with the current
trends and future estimations to elucidate the imminent investment pockets.
 Information about key drivers, restrains, and opportunities and their impact analyses on the market size
is provided in the report.
 Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
 The quantitative analysis of the global micro lending market from 2019 to 2027 is provided to
determine the market potential.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
27
1.3. Key market segments
By Provider
 Banks
 Micro Finance Institute (MFI)
 NBFC (Non-Banking Financial Institutions)
 Others
By End User
 Solo Entrepreneurs & Individual
 Micro Enterprises
 Small Enterprises
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
28
Key Market Players
 Accion International
 BlueVine, Inc.
 Fundera, Inc.
 Funding Circle
 Kabbage, Inc.
 Kiva
 Lendio
 LENDR
 OnDeck
 StreetShares, Inc.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
29
FIGURE 01. KEY MARKET SEGMENTS
By
Provider
• Banks
• Micro Finance Institute (MFI)
• Non-Banking Financial
By
Institutions (NBFC) End User
• Others • Small Enterprises
• Micro Enterprises
By • Solo Entrepreneurs or
Region Self-employed
• North America
• Europe
• Asia-Pacific
• LAMEA
Source: AMR Analysis
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
30
1.4. Research methodology
With a collective industry experience of about 100 years of its analysts and experts, Allied Market Research
(AMR) implements the most infallible research methodology for its market intelligence and industry analysis.
Not only does the company dig deep into the innermost levels of the market, but also examines the minutest
details for its market estimates and forecasts.
This approach helps in building a greater, market-specific view for size, shape, and industry trends within each
industry segment. We carefully factor in the industry trends and real developments for identifying key growth
factors and estimate the future course of the market. The research proceeds are the resultant of high-quality
data, expert views and analysis, and high value independent opinions. Our research process is designed to
deliver a balanced view of the global markets and allow stakeholders to make informed decisions to attain
their highest growth objectives.
Allied Market Research offers its clients exhaustive research and analysis based on wide variety of factual
inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence.
The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the
requirements of the particular industry segment. These analytical tools and models distill the data & statistics
and enhance the accuracy of our recommendations and advice.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
31
With AMR’s calibrated research process and 360° data-evaluation methodology, the clients are assured of
receiving:
 Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic
business planning.
 Technologically sophisticated and reliable insights through a well-audited and veracious research
methodology.
 Sovereign research proceeds that present a tangible depiction of the marketplace.
This strong research methodology ensures that AMR’s research and analysis is most reliable and guarantees
sound business planning.
The research methodology of global micro lending market involves extensive primary and secondary research.
Primary research includes about 18 hours of interviews and discussions (telephonic, face-to-face, emails, and
others), with a wide range of stakeholders including upstream and downstream participants. Primary research
typically forms the bulk of the research efforts, but is also, coherently supported by extensive secondary
research.
Micro Lending Over 3,700 product literatures, industry releases, annual reports, and other such documents of key industry
Market participants have been reviewed to obtain a better market understanding and gain competitive intelligence. In
Global Opportunity addition, authentic industry journals, trade associations’ releases, and Public Sector websites were also
reviewed for generating high-value industry insights.
Forecast, 2020-2027
32
1.4.1. Secondary research
A broad array of secondary research includes:
 Company SEC filings, annual reports, company websites, broker & financial reports and investor
presentations for a competitive scenario and shape of the industry.
 Patent and regulatory databases for understanding of technical & legal developments.
 Scientific and technical writings for product information and related preemptions.
 Regional Public Sector and statistical databases for macro-analysis.
 Authentic news articles, web-casts, and other related releases, for market evaluation.
 Internal and external proprietary databases, key market indicators, and relevant press releases for
market estimates and forecast.
1.4.2. Primary research

The primary research includes reaching out to participants through emails, telephonic-conversations, referrals,
professional networks, and formal interactions. AMR has professional relations with various companies that
allow for greater flexibility in reaching out to industry participants and commentators for interviews and
Micro Lending discussions. The aforementioned helps to:
Market
 Validate and improve the data quality and strengthen research proceeds
Global Opportunity  Develop market understanding and expertise
Forecast, 2020-2027  Supply authentic information about market size, share, growth, and forecast
33
The primary research interview and discussion panels comprise experienced industry personnel. These
participants include, but are not limited to:
 Chief executives and VPs of leading corporations specific to the industry

 Product and sales managers or country heads; channel partners and top-level distributors; BFSI,
investments and valuation experts
 Key opinion leaders (KOLs)
1.4.3. Analyst tools & models

Corresponding to markets, where there is significant lack of information and estimates, analyst tools and
industry models assist to interpret qualitative and quantitative industry indicators to obtain market estimates.
These models examine the prospects and opportunities that are predominant in the market.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
34
CHAPTER 2: EXECUTIVE SUMMARY
The global micro lending market size was valued at $134.35 billion in 2019, and is projected to reach $343.84
billion by 2027, growing at a CAGR of 12.6% from 2020 to 2027.
Micro lending is a type of financial service provided to people, who are looking to lend money to earn
potentially high returns may fund borrowers who have no access to financial services such as banks or credit
unions. The lending can be done to single microloans, and to diversify risk exposure, others invest across a
portfolio of microloans. The services in the market are designed to become more affordable to poor and
socially marginalized customers, households to have a wide variety of high-quality financial products and
services, and to help them become self-sufficient. Moreover, growing adoption of micro lending in developing
nations for improving lifestyle and lesser operating & low market risk of micro lending significantly boosts the
growth of the global micro lending market. In addition, rise in potential of entrepreneurs, to bring in more
businesses and to start from zero level with less capital support positively impacts the growth of the market.
However, small loan amount provided by micro lenders and shorter repayment time provided by lenders are
expected to hamper the market growth. On the contrary, adoption of advance technology in micro financing
is expected to provide lucrative opportunity for the market.
Micro Lending The bank segment is expected to garner a significant share during the forecast period. This is attributed to
Market rise in adoption of micro lending and micro financing scheme from various banks and fintech for small and
Global Opportunity medium enterprises. However, the micro finance institute (MFI) segment is expected to grow at the highest
Analysis and Industry rate during the forecast period, owing to growing micro finance institute across the globe and rise in need of
Forecast, 2020-2027
micro loans among the general public.
35
Region wise, the micro lending market was dominated by Asia-Pacific in 2019, and is expected to witness
significant growth rate during the forecast period. This is attributed to surge in surge in government initiative
to reduce poverty and to upsurge the living standard of the people.
FIGURE 02. MICRO LENDING MARKET SNAPSHOT, BY SEGMENT, 2019 2027
REVENUE-2019 FORECAST-2027 CAGR

SEGMENT SUBSEGMENT
($Million) ($Million) (2020-2027)
Banks 62,266.65 1,44,068.01 11.1%
Micro Finance Institute (MFI) 50,427.54 1,42,808.90 14.0%

By Provider Non-Banking Financial
14,209.84 38,178.16 13.3%
Institutions (NBFC)
Others 7,447.97 18,788.92 12.4%
Small Enterprises 53,135.32 1,27,723.11 11.7%
Micro Enterprises 37,230.22 92,469.64 12.1%

By Type
Solo Entrepreneurs or Self-
43,986.46 1,23,651.25 13.9%
employed
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
36
FIGURE 03. MICRO LENDING MARKET SNAPSHOT, BY COUNTRY, 2019 2027
REVENUE-2019 FORECAST-2027 CAGR

REGION COUNTRY
($Million) ($Million) (2020-2027)
U.S. 2,045.91 4,755.19 11.2%
North America
Canada 372.42 1,090.16 14.4%
France 1,551.39 4,454.16 14.1%
Spain 1,237.65 2,709.32 10.4%
Poland 1,069.12 2,430.50 10.9%

Europe
UK 199.38 552.39 13.7%
Germany 558.26 1,383.59 12.1%
Rest of Europe 2,907.91 6,006.10 9.6%
China 24,249.17 55,143.38 10.9%
Japan 3,948.32 9,608.72 11.9%
Asia-Pacific India 20,381.70 61,495.81 14.9%
South Korea 4,345.85 11,743.99 13.3%
Rest of Asia-Pacific 14,452.48 39,947.37 13.7%
Latin America 51,876.69 1,25,905.12 11.8%
LAMEA Middle East 1,397.29 3,848.13 13.6%

Micro Lending
Africa 3,758.44 12,770.09 16.5%
Market Source: AMR Analysis
Global Opportunity
Forecast, 2020-2027
37
2.1. Key findings
2.1.1. Top impacting factors
The growth of the global micro lending market is impacted by surge in adoption of micro lending in the
developing nations for improving lifestyle and lesser operating & low market risk of micro lending
significantly boosts the growth of the global micro lending market. In addition, rise in shift from traditional
lending to micro lending across the globe positively impacts the growth of the market. However, small loan
amount provided by micro lenders and shorter repayment time provided by lenders are expected to hamper
the market growth. On the contrary, adoption of advance technology in micro financing is expected to
provide lucrative opportunity for the market.
FIGURE 04. GLOBAL MICRO LENDING MARKET: TOP IMPACTING FACTORS

Increase in adoption of micro
lending in developing nations
for improving lifestyle
10
8
6
Adoption of advance technology 4 Shift from traditional lending to
in micro financing 2 micro lending
0
Micro Lending
High interest on small amount
Market and shorter repayment time
Lesser operating cost and low
market risk
provided by micro lenders
Global Opportunity 2019 2027
Analysis and Industry Source: Primary & Secondary Research and AMR Analysis
Forecast, 2020-2027
38
2.1.2. Top investment pockets
The graph below depicts the top investment pockets with respect to the growth rate and market
attractiveness. It is evident from the figure that Asia-Pacific serves as a lucrative market for vendors to invest
in the near future, owing to rising supportive government policies towards micro lending and growing
adoption of micro lending services among the emerging nations of Asia-Pacific such as China and India.
FIGURE 05. TOP INVESTMENT POCKETS
Asia-Pacific
High
LAMEA
Market Growth
Europe North America

Low
Micro Lending
Low Market Attractiveness High
Market Source: Primary & Secondary Research and AMR Analysis
Global Opportunity
Forecast, 2020-2027
39
2.2. CXO perspective
According to the opinions of CXOs of leading companies, the global micro lending market is anticipated to
witness robust growth in emerging economies of LAMEA along with continued growth in established market
of Asia-Pacific. The growth is attributed to expansion of small businesses globally, improved interest rates,
lending transparency, and lesser market risks. Increase in economic strength of the developing nations such as
Singapore and India is expected to provide lucrative opportunities for the market growth. LAMEA is expected
to dominate the market during the forecast period. Moreover, emerging countries in Europe are projected to
offer significant growth opportunities during the forecast period. Micro lending provider are expected to
show further improvement in markets across rest of Asia and LAMEA, which are presently in the budding
stage of alternative lending. The global players are focusing toward product development and increasing their
geographical presence, owing to surge in competition among local vendors in terms of features, quality, and
price. In addition, these players are adopting various business strategies to enhance their product offerings
and strengthen their foothold in the market. For instance, in November 2020, Paytm partnered with partnered
with Suryoday Small Finance Bank to offer instant microloans to Micro, Small, and Medium Enterprises
(MSMEs) that are unable to access financial services from traditional banking players. With this lending
partnership, Paytm is aiming at disbursing loans to over 1 lakh small businesses in the next 12 months to 18
months. Furthermore, a greater number of such key developments in various Asian countries such as China,
Micro Lending
India, and Japan is expected to provide lucrative opportunity for the market growth.
Market
Global Opportunity
Forecast, 2020-2027
40
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
Micro lending is a way to provide small business owners and individuals with capital to help them manage
their business financially. It is an important aspect for various emerging countries as it provides access to
capital to the financially underserved, such as those who are unable to get checking accounts, lines of credit,
or loans from traditional banks. Furthermore, government of various emerging countries are introducing
favorable policies for micro lending for upsurging their economy.
Rise in adoption of micro lending in developing nations for improving lifestyle and lesser operating & low
market risk of micro lending significantly boosts the growth of the global micro lending market. In addition,
surge in potential of entrepreneurs, to bring in more businesses and to start from zero level with less capital
support positively impacts the growth of the market. However, small loan amount provided by micro lenders
and shorter repayment time provided by lenders are expected to hamper the market growth. On the contrary,
adoption of advance technology in micro financing is expected to provide lucrative opportunity for the
market.
By end user, the micro lending market was led by the small enterprise segment in 2019, and is projected to
Micro Lending
maintain its dominance during the forecast period. Rise in number of small businesses across the developing
Market nations of LAEMA and Asia-Pacific fuels the growth of this segment. However, the sole entrepreneurs &
Global Opportunity individual segment is expected to grow at the highest rate during the forecast period, owing to rapid
Forecast, 2020-2027 adoption of micro lending among individuals for financial stability.
41
Region wise, the micro lending market was dominated by Asia-Pacific and is expected to witness significant
growth during the forecast period. This is attributed to surge in favorable government policies for micro
funding and presence of major players of the market.
The report focuses on the growth prospects, restraints, and trends of global micro lending market analysis.
The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining
power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and
bargaining power of buyers on the global micro lending market.
3.2. Key forces shaping global micro lending market

The degree of industry attractiveness in the micro lending market is analyzed on the basis of impact of five
major forces on the market. Porter’s five forces analysis includes the impact of suppliers, industry rivals, new
entrants, substitute products, and buyers on the market growth.
3.2.1. Low-to-Moderate bargaining power of suppliers

Suppliers considered here are suppliers of essential elements such as operating system, software framework,
API, and hardware for developing digital lending solutions. Presently, large number of suppliers are available
thereby fostering a substantial competition in the suppliers market. However, limited suppliers for operating
Micro Lending
systems have dominance over the market. Switching cost for such supplier’s product is high. It is possible that
Market the software provider may backward integrate and develop their own operating system, software frame, and
Global Opportunity API. In addition, there is a low product differentiation in supplier’s product. These factors result in low-to-
moderate bargaining power of suppliers.
Forecast, 2020-2027
42
FIGURE 06. MODERATE-TO- HIGH BARGAINING POWER OF SUPPLIERS
Determinant
Determinant Determinant Impact on Market
Strength
LOW MODERATE HIGH
Number of Suppliers High
Product Differentiation Moderate
Switching Cost Moderate
Product Quality High
Forward Integration Moderate
3.2.2. Moderate-to-High bargaining power of buyers

The primary buyers in the micro lending market are industries such as banks, credit unions, insurance
organizations, saving & loan associations, and others. Open source applications and in-house developed
Micro Lending applications from IT department of organizations are some of the alternatives available for digital lending
Market solutions. As large number of local as well as global micro lending vendors operate in the market, buyers have
large options. These, factors lead to the moderate-to-high bargaining power of buyers.
Global Opportunity
Forecast, 2020-2027
43
FIGURE 07. MODERATE-TO-HIGH BARGAINING POWER OF BUYERS
Determinant
Strength
LOW MODERATE HIGH
Number of Buyers High
Purchase Quantity Moderate
Switching Cost Moderate
Product Dependency High
Backward Integration Moderate
3.2.3. Moderate-to-High threat of substitutes

Open source application is one of the alternatives for digital lending solutions. A small mistake not corrected
immediately in open source software can have serious consequences for the business. However, there are
Micro Lending support providers in the market, who provide support for open source software and charge nominal amount
Market in comparison to buying new license for digital lending software. Thus, such practices are mostly preferred by
small and new entrants in various industries as they are not capable to invest in high cost lending software.
Global Opportunity
Analysis and Industry Further, a number of enterprises develop in-house applications to manage their business operations
Forecast, 2020-2027
efficiently. Thus, these two factors pose moderate threat of substitution.
44
FIGURE 08. MODERATE-TO-HIGH THREAT OF SUBSTITUTES
Determinant
Strength
LOW MODERATE HIGH
Product Differentiation High
Price War Moderate
Ease of Substitution High
Brand Loyalty Moderate
3.2.4. Low threat of new entrants

Currently, there are several formidable brands present in the market such as Fiserv, FIS Global, Ellie MAE,
Finastra, and Temenos which have created a strong image. These leaders have strong technical capabilities
owing to their high investment in R&D. Time and cost required to implement micro lending in the
organizations is considerably high. Hence, in most of the cases buyers avoid switching from existing vendors
Micro Lending to other solution provider. New entrants are required to invest in R&D to sustain in a highly competitive
Market environment. Such high investments may restrict new entrants in the market. Collectively, presence of strong
Global Opportunity brands, consumers switching cost and high investment limits the entry of new players in the market.
Forecast, 2020-2027
45
FIGURE 09. MODERATE -TO -HIGH THREAT OF ENTRANTS
Determinant
Strength
LOW MODERATE HIGH
Investment Cost Moderate
Legal Barriers Moderate
Government Policies Moderate
Demand Potential High
Brand Loyalty Moderate
3.2.5. Low-to-Moderate competitive rivalry

Operating companies in the micro lending market need to invest heavily to establish a high benchmark in
terms of technical capabilities. Operating companies undertake various R&D activities to enhance the
Micro Lending capabilities of existing applications, which incurs high fixed cost. Currently, the market is characterized by the
Market presence of numerous strong players indicating a very high competitive environment. It has been noted that
some of the operating companies constitute major market share. The product offering of leading companies
Global Opportunity
Analysis and Industry are almost same, and there is moderate product and price differentiation among these operating companies.
Forecast, 2020-2027
46
FIGURE 10. MODERATE TO -HIGHCOMPETITIVE RIVALRY
Determinant
Strength
LOW MODERATE HIGH
Number of Players High
Economic Base Moderate
Strategies High
Innovation Moderate
Growth Rate High
Supply-Demand Gap Moderate
Exit Barriers Moderate
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
47
3.3. Market dynamics
3.3.1. Drivers
3.3.1.1. Increase in adoption of micro lending in developing nations for improving lifestyle
Micro lending or micro finance is changing the lifestyle of various people in the developing nations of Asia-
Pacific and LAMEA by helping them financially. In addition, surge in government initiatives for micro lending
in various countries drives the growth of the market. Furthermore, increase in micro lenders help various
emerging countries for reducing poverty and also improves the standard of living of the poor people. For
instance, according to a research study conducted in Bangladesh, micro finance accounted for 40% reduction
of poverty in various part of the country. Moreover, various farmers across the African countries are adopting
micro lending for buying crops, which drives the growth of the market. In addition, people in rural areas are
taking loans from micro lenders for setting their own business and to raise their standard of living, which
propels the growth of the market.
3.3.1.2. Shift from traditional lending to micro lending

With increase in penetration of smartphones and internet users across the globe, online banking has
witnessed significant growth in the recent years. Micro lending is considered as one of the convenient and
widely used option for lenders, as it provides instant affordability for applications. Multiple businesses and
Micro Lending
individuals have started filling applications online for taking loans in the recent years rather than getting into
Market
the time-consuming lending process. According to Federal Reserve, about 49% of small business applied for
Global Opportunity loan across the globe from various nonbanking and banking institutions.
Forecast, 2020-2027
48
The ease of applying loans for borrowers and numerous other benefits for lenders, such as automated loan
management, and rapid approval are shifting their attention toward digital lending, thus driving the market
growth.
3.3.2. Lesser operating cost and low market risk

Micro lending solution neither requires infrastructure/buildings nor large workforce unlike traditional banks.
micro lending platform functions via internet-based services. The data is available to public, and the online
services allow access to their sites, giving a clearer picture to consumers about loans and their types available.
These lending platforms make money by charging fees to borrowers and deducting fees from the loan
repayments made to investors, which propels the growth of the market. Furthermore, micro lending platform
helps in reducing the operational costs by decreasing the cost of physical branches, staffing, and maintenance
of branches, thus augmenting the growth of the market. Moreover, micro lending platform provides a suitable
plan to ensure borrower’s repayment process, which reduces the market risk of the investor. With the help of
peer-to-peer lending platform investors can reduce different types of market risks such as interest rate,
unemployment rates, and property prices risk, which further positively impacts the growth of the global
market.
Micro Lending 3.3.3. Restraint
Market 3.3.3.1. High interest on small amount and shorter repayment time provided by micro lenders
Micro finance institutes and micro lenders charge high interest rate for various different loan amounts which
Global Opportunity
Analysis and Industry is the major factor that hampers the growth of the market. In addition, micro lenders majorly focus on
Forecast, 2020-2027 increasing their revenue, owing to which their repayment time is short and charges are high.
49
Micro finance institute borrow large amount of money from various banks and other institute, owing to which
they charge high interest rate and shorter repayment time which hampers the growth of the market.
Furthermore, various micro finance institutes in majority of countries across the globe need to use private
equity to raise capital because they are not allowed to collect savings, like traditional banks, as a way to fund
loans which negatively impact the growth of the market. In addition, rise in strict government regulation on
micro finance institute hampers the growth of the market.
3.3.4. Opportunities
3.3.4.1. Adoption of advance technology in micro financing
Surge in adoption of digital technology among the micro financial sector to create new channels for the
people and to upsurge their revenue opportunity boosts the market growth. In addition, increased
connectivity in the developing nations and technological innovations in various African and Middle East
countries is expected to provide lucrative opportunity for the market growth. Furthermore, large penetration
of advance technology in micro finance sector such as mobile banking, ATMs, POS, and others in developing
nations is providing future opportunity for the market. For instance, in India the government is using Adhar
Payment Bridge System for providing micro loans and services to the individuals across the country.
Moreover, major players of the market are introducing new technology to upsurge their market share and to
Micro Lending provide customers with enhanced experience, which is expected to provide future opportunity for the market.
Market
Global Opportunity
Forecast, 2020-2027
50
3.4. COVID-19 impact analysis on micro lending market
3.4.1. Impact on market size
The COVID-19 outbreak has moderate impact on the growth of the digital lending platform market as the
outbreak of the COVID-19 pandemic has enabled lending activities including past-due or non-collectible
loans to become an implicit part of the financial sector. Hence, the need to implement new software for debt
management in microfinance institutions (MFIs) has increased considerably.
Furthermore, various micro finance and other micro lending institute were stop by the government owing to
growing patients across the globe. In addition, the European government also introduced various other digital
platform for micro finance company to sell their products and to attract their customer, which negatively
impacts the growth of the market. Moreover, the COVID-19 pandemic has caused numerous challenges for
the micro lending market players and micro finance institute, which include difficulties in disbursements,
collection of reimbursements and meeting with clients face-to-face, and reorganizing internal systems and
flow of work. Thus, all these factors have a huge impact on the micro lending market. In addition,
Microfinance providers are expected to face serious liquidity crunch during COVID-19, gap between revenue
and operational expenditures are increasing with depleting reserves. This shrinking liquidity may not create
problem for large MFIs or those with strong stable backup, but is sufficient to haunt small and mid-size MFIs.
Micro Lending Thus, various governments across the globe are introducing new policy for helping micro finance providers to
Market increase their revenue in the pandemic situation and to recover their loss.
Global Opportunity
Forecast, 2020-2027
51
3.4.2. Consumer trends, preferences, and budget impact
With alarming increase in COVID-19 patients and rise in loss of jobs across the globe, consumers are likely to
control their spending, which is strongly impacting the economy of various countries. In addition, increase in
unemployment rate across various emerging countries of Asia and LAMEA is anticipated to impact the growth
of the market. For instance, according to a research report, around 84% of migrant workers have not earned
anything from March, and the unemployment rate has increased by 23.52% in India. Moreover, many
borrowers have opted for three months moratorium on loans offered by the Reserve Bank of India, which is a
major factor impacting the growth of the market.
3.4.3. Regulatory framework

The coronavirus pandemic can contribute to trade changes. For instance, as coronavirus continues to rapidly
spread across the globe, many countries have identified that their supply chains are dependent on others.
Supply chains that have been disrupted include various different components such as customers, business,
and operations & IT of the digital lending platforms. Governments of various emerging countries across the
globe are introducing new regulations for banks and FinTech organizations to support their loan books.
For instance, in March 2020, the Government of India introduced new schemes for banks for offering three
Micro Lending months moratorium to borrowers on repayment of principal, interest, and EMIs. All these factors are
Market negatively impacting the growth of the market. Moreover, various government across the globe are
introducing new schemes for small business finance provider to mitigate the risk of economic damage caused
Global Opportunity
Analysis and Industry by the coronavirus pandemic situation.
Forecast, 2020-2027
52
For instance, the government of Europe in May 2020, introduced new micro loan schemes for small
businesses, the new Bounce Back Loan Scheme will allow small businesses adversely affected by COVID-19 to
apply for up to £50,000, with the government guaranteeing 100% of the advance. Thus, number of such new
schemes and regulation introduced by various government across the globe positively impact the growth of
the market.
3.4.4. Economic impact

The COVID-19 pandemic is expected to impact the overall economy and digital lending platform market. In
addition, banking and FinTech industries across the globe contribute to the major share in GDP in countries
such as the U.S. and Canada. Thus, rise in number of patients has led to shutdown of banks and FinTech
organizations, and have declined the growth rate of Asian countries
Moreover, revenue of the banking sector is more likely to remain under pressure even post lockdown, as
social distancing norms are likely to continue, which discourages usage of mass transit systems. Decrease in
physical banking among industry verticals is expected to positively impact the growth of the micro lending
market.
3.4.5. Key player strategies to tackle negative impact

Micro Lending
Key players operating in the market are facing the impact of the COVID-19 outbreak; however, it is lesser as
Market compared to the FinTech industries, which are witnessing fall in their revenue. In addition, many companies
Global Opportunity such as Accion International, Fundera, Inc. and others have implemented different strategies and new micro
lending services to improve their market size and to reduce the loss occurred due to the pandemic.
Forecast, 2020-2027
53
For instance, in March 2020, Opportunity Fund Network announced partnership with Accion International to
develop national microlending strategy. It allows small businesses to meet their credit needs, leverage digital
technology, and promote research and financial education.
3.4.6. Opportunity window

Although the COVID-19 outbreak is anticipated to negatively impact the growth of the market, the industry is
expected to recover by the third quarter of 2020. Significant investment in next-generation technology such
as ML and AI by the banking sector to provide enhanced customer experience in both developed and
developing economies is anticipated to drive the demand for micro lending platform. In addition, various
banks and FinTech organizations are seeking for cost-effective solutions to boost their productivity to attract
consumers toward micro lending and to increase their financial benefits. Furthermore, increase in efforts of
governments of various countries to boost the adoption of micro lending and surge adoption of AI-based
banking solutions to provide customer with faster and more efficient customer services are expected to
provide lucrative opportunities for the expansion of the global market.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
54
CHAPTER 4: MICRO LENDING MARKET, BY PROVIDER
4.1. Overview
On the basis of provider, the global micro lending market is segmented into banks, micro finance Institute
(MFI), Non-Banking Financial Institutions (NBFC), and other.
FIGURE 11. MICRO LENDING MARKET, BY PROVIDER, 2019-2027
144,068.01 142,808.90
2019 2027
62,266.65
50,427.54
38,178.16
14,209.84 18,788.92
7,447.97
Banks Micro Finance Institute (MFI) NBFC (Non-Banking Financial Others

Institutions)
Micro Lending Source: AMR Analysis
Market The global micro lending market was valued at $134,352.00 million in 2019, and is projected to reach
$343,844.00 million by 2027, registering a CAGR of 12.6% from 2020 to 2027. The banks segment was the
Global Opportunity
Analysis and Industry highest contributor to the market, with $62,266.65 million in 2019, and is estimated to reach $144,068.01
Forecast, 2020-2027 million by 2027, at a CAGR of 11.1% during the forecast period. The micro finance institute (MFI) segment is
55
estimated to reach $142,808.90 million by 2027, at a CAGR of 14.0%. The banks and micro finance institute
(MFI) segments collectively accounted for around 83.9% market share in 2019, with the former constituting
around 46.3% share. The micro finance institute (MFI) and Non-banking financial institutions (NBFC) segments
are expected to witness significant CAGRs of 14.0% and 13.3%, respectively, during the forecast period. The
cumulative share of these two segments was 48.1% in 2019, and is anticipated to reach 52.6% by 2027.
TABLE 01. GLOBAL MICRO LENDING MARKET REVENUE, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 62,266.65 68,754.74 75,941.56 83,979.40 93,002.98 1,03,208.84 1,14,863.30 1,28,322.21 1,44,068.01 11.1%
Micro Finance
50,427.54 57,108.56 64,692.40 73,369.25 83,330.04 94,838.46 1,08,246.70 1,24,024.48 1,42,808.90 14.0%
Institute (MFI)
Non-banking
financial
14,209.84 15,979.74 17,977.44 20,251.27 22,848.57 25,835.40 29,300.24 33,361.13 38,178.16 13.3%
institutions
(NBFC)
Others 7,447.97 8,308.96 9,273.60 10,364.08 11,601.41 13,015.30 14,645.77 16,546.18 18,788.92 12.4%
Total 1,34,352.00 1,50,152.00 1,67,885.00 1,87,964.00 2,10,783.00 2,36,898.00 2,67,056.00 3,02,254.00 3,43,844.00 12.6%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
56
4.2. Banks
Banks play a major role in providing micro lending offerings in the market. Banks have tie-ups with several
small & medium enterprise and share commissions with partnered companies during the sales of cars
through financing. Generally, banks provide individual auto loan and personal loan covering car financing
services for corporates and individuals in the market.
4.2.1. Key market trends, growth factors, and opportunities

The micro lending market for banks was valued at $62,266.65 million in 2019, and is projected to reach
$144,068.01 million by 2027, growing at a CAGR of 11.1% from 2020 to 2027. Asia-Pacific was the highest
contributor with $30,573.25 million in 2019, and is anticipated to reach $72,886.12 million by 2027, registering
a CAGR of 11.6%.
Surge in focus on digitalization of financial processes has transformed the traditional banking systems. The
banks are adopting micro lending platforms significantly to support rise in consumer needs. The micro
lending platforms have helped in filling existing gaps in financial services and increased efficiency for better
customer experience, thus driving the market growth.
The Reserve Bank of India extended the “Udaan” scheme to FinTech’s and non-banking finance companies
Micro Lending
and has allowed direct debit for loan repayment through instant inter-bank funds transfer mechanism UPI.
Market More number of such schemes are expected to create opportunities for the market in the upcoming years.
Global Opportunity
Forecast, 2020-2027
57
Furthermore, increase in number of COVID-19 patients across the globe has led many banks and FinTech
organizations to use digital platform for various lending and other purposes, which drives the growth of the
market in the pandemic situation.
4.2.2. Market size and forecast, by region

Asia-Pacific and LAMEA collectively accounted for around 92.4% share of the micro lending market for banks
in 2019, with the former constituting around 49.1% share. Asia-Pacific and LAMEA are expected to witness
significant CAGRs of 11.6% and 10.9% respectively, during the forecast period. The cumulative share of these
two regions was 92.4% in 2019, and is anticipated to reach 93.0% by 2027.
TABLE 02. MICRO LENDING MARKET REVENUE FOR BANKS, BY REGION

2019-2027($MILLION)
CAGR%
REGION 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
North
1,171.47 1,285.29 1,410.53 1,549.77 1,705.16 1,879.95 2,078.52 2,306.76 2,572.66 10.4%
America
Europe 3,569.16 3,899.05 4,260.21 4,659.81 5,103.69 5,600.71 6,162.99 6,806.76 7,554.01 9.9%
Asia-Pacific 30,573.25 33,887.77 37,572.10 41,705.73 46,360.50 51,640.18 57,685.01 64,682.34 72,886.12 11.6%
LAMEA 26,952.76 29,682.63 32,698.72 36,064.10 39,833.63 44,088.01 48,936.78 54,526.35 61,055.22 10.9%
Micro Lending
Total 62,266.65 68,754.74 75,941.56 83,979.40 93,002.98 1,03,208.84 1,14,863.30 1,28,322.21 1,44,068.01 11.1%
Market
Global Opportunity
Forecast, 2020-2027
58
4.2.3. Market analysis by country
FIGURE 12. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR BANKS, BY COUNTRY, 2019 & 2027 (%)
2019 2027
39.43%
37.52%
0.94%
0.43%
14.84%
1.20% 17.78%
0.80%
0.15% 0.41%
15.79% 17.48% 10.48%
0.29% 1.35% 2.81%
0.16% 3.16% 11.30%
0.33% 2.20% 2.84% 1.04% 3.74%
1.60% 0.82%
1.46% 1.78% 2.69% 3.34%
0.73% 1.12%
Micro Lending The micro lending market for banks was valued at $62,266.65 million in 2019, and is projected to reach
$144,068.01 million by 2027, registering a CAGR of 11.1% from 2020 to 2027. Latin America was the highest
Market
contributor with $24,553.24 million in 2019, and is estimated to reach $54,051.07 million by 2027, at a CAGR
Global Opportunity
of 10.5% during the forecast period. Africa is estimated to reach $5,387.16 million by 2027 at a CAGR of
Forecast, 2020-2027 15.1%.
59
Latin America and China collectively accounted for around 57.2% market share in 2019, with the former
constituting around 39.4% share. Africa and India are expected to witness significant CAGRs of 15.1% and
13.4%, respectively, during the forecast period. The cumulative share of these two countries was 17.7% in
2019, and is anticipated to reach 21.2% by 2027.
4.3. Micro finance institute

Micro finance institute provides small amounts of savings, insurance, financing, and other related financial
services to working families or low income population, small businesses, and entrepreneurs. In addition, micro
finance institute offers individual microcredit loans directly to micro entrepreneurs, villagers, poor families,
and impoverished women.

The micro lending market for micro finance institute (MFI) was valued at $50,427.54 million in 2019, and is
projected to reach $142,808.90 million by 2027, growing at a CAGR of 14.0% from 2020 to 2027. Asia-Pacific
was the highest contributor with $25,661.88 million in 2019, and is anticipated to reach $74,838.10 million by
2027, registering a CAGR of 14.4%.
The microfinance institutes are focused on understanding the needs of the underprivileged people and
Micro Lending
finding better ways to provide financial services tailored to their needs, and developing the most effective and
Market efficient mechanism to provide micro-credit services to small and medium enterprises. In addition, rise in
Global Opportunity need to stay competitive in the global market and high penetration of loan solutions offered by micro finance
institutes (MFI) globally have motivated the MFIs to opt for micro lending solutions.
Forecast, 2020-2027
60
Moreover, MFIs are adopting reseller partnership strategies at a high rate as reseller network increases the
potential of banks and non-banking financial companies to reach new customers easily. Furthermore, these
institutes adopt micro lending platform rapidly, due to its numerous benefits, which include faster loan
processing, better customers experience, and automating claims. This propels the growth of the market. In
addition, micro lending helps MFIs to access the risks associated with the loan process and helps companies
to access the past data of borrowers.

Asia-Pacific and LAMEA collectively accounted for around 92.8% share of the micro lending market for micro
finance institute (MFI) in 2019, with the former constituting around 50.9% share. Asia-Pacific and LAMEA are
expected to witness significant CAGRs of 14.4% and 13.7% respectively, during the forecast period. The
cumulative share of these two regions was 92.8% in 2019, and is anticipated to reach 93.4% by 2027.
TABLE 03. MICRO LENDING MARKET REVENUE FOR MICRO FINANCE INSTITUTE BY REGION 2019-2027($MILLION)
CAGR%
REGION 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
North
881.15 991.34 1,115.56 1,256.74 1,417.74 1,602.58 1,816.61 2,067.00 2,363.46 13.2%
America
Europe 2,746.21 3,076.68 3,447.37 3,866.72 4,342.71 4,886.65 5,513.70 6,244.14 7,105.41 12.7%
Micro Lending
Asia-
Market Pacific
25,661.88 29,169.45 33,165.23 37,752.25 43,035.40 49,158.69 56,314.25 64,758.23 74,838.10 14.4%
LAMEA 21,138.31 23,871.09 26,964.24 30,493.54 34,534.19 39,190.54 44,602.14 50,955.12 58,501.93 13.7%
Global Opportunity
Analysis and Industry Total 50,427.54 57,108.56 64,692.40 73,369.25 83,330.04 94,838.46 1,08,246.70 1,24,024.48 1,42,808.90 14.0%
Forecast, 2020-2027
61
FIGURE 13. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET MICRO FINANCE INSTITUTE, 2019 & 2027 (%)
2019 2027
38.19%
36.25%
0.90%
0.40% 15.28%
18.49%
1.13% 0.77%
0.14% 0.39% 10.94%
16.39% 18.00%
0.27% 1.27% 2.72%
0.16% 3.24% 11.79%
0.31% 2.10% 2.94% 1.01% 3.62%
1.48% 0.77%
1.35% 1.70% 2.80% 3.42%
0.69% 1.09%
The micro lending market for micro finance institute (MFI) was valued at $50,427.54 million in 2019, and is
Micro Lending projected to reach $142,808.90 million by 2027, registering a CAGR of 14.0% from 2020 to 2027. Latin America
was the highest contributor with $19,256.63 million in 2019, and is estimated to reach $51,772.18 million by
Market
2027, at a CAGR of 13.3% during the forecast period. Africa is estimated to reach $5,170.91 million by 2027 at
Global Opportunity
Analysis and Industry a CAGR of 18.0%. Latin America and China collectively accounted for around 56.7% market share in 2019, with
Forecast, 2020-2027 the former constituting around 38.2% share.
62
Africa and India are expected to witness significant CAGRs of 18.0% and 16.3%, respectively, during the
forecast period. The cumulative share of these two countries was 18.0% in 2019, and is anticipated to reach
21.6% by 2027.
4.4. Non-banking financial institutions (NBFC)

Nonbank financial institution provides certain banking and financial services to individual or groups without
holding a banking license. It includes mortgage lenders, investment banks, insurance companies, money
market funds, private equity funds, peer to peer lenders, and hedge funds. In addition, NBFC can be formed
by large corporations, organizations, and other entities for their employees & members to provide financial
lending & services with massive safety at reasonable rates.

The micro lending market for non-banking financial institutions (NBFC) was valued at $14,209.84 million in
2019, and is projected to reach $38,178.16 million by 2027, growing at a CAGR of 13.3% from 2020 to 2027.
In the micro lending market, the non-banking financial Institutions are adopting advance technology and
funding models to reduce operational costs and improve customer experience in the market. This has become
a major trend in the segment. Furthermore, to secure high interest rate and to expand their customer base
Micro Lending
worldwide, NBFCs are adopting micro lending platform, which propels the growth of the market. In addition,
Market rise in cash loan supplies and sales credit loan supplies among lenders is expected to provide lucrative
Global Opportunity opportunity for the market.
Forecast, 2020-2027
63
In addition, non-banking financial institution generally charges less fees or costs associated with a loan
application as compared to banks and MFIs owing to which consumers are adopting this NBFCs .

Asia-Pacific was the highest contributor with $7,291.27 million in 2019, and is anticipated to reach $20,197.76
million by 2027, registering a CAGR of 13.7%. Asia-Pacific and LAMEA collectively accounted for around 92.8%
share of the micro lending market for non-banking financial institutions (NBFC) in 2019, with the former
constituting around 51.3% share. Asia-Pacific and LAMEA are expected to witness significant CAGRs of 13.7%
and 12.9% respectively, during the forecast period. The cumulative share of these two regions was 92.8% in
TABLE 04. MICRO LENDING MARKET REVENUE FOR NON-BANKING FINANCIAL INSTITUTIONS (NBFC) BY REGION 2019-2027($MILLION)
CAGR%
REGION 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
North
241.81 270.08 301.76 337.59 378.24 424.69 478.25 540.66 614.3 12.5%
America
Europe 779.53 866.58 963.63 1,072.80 1,196.07 1,336.23 1,497.09 1,683.71 1,902.96 11.9%
Asia-Pacific 7,291.27 8,231.26 9,296.09 10,512.21 11,905.93 13,513.73 15,384.40 17,582.99 20,197.76 13.7%
Micro Lending LAMEA 5,897.23 6,611.82 7,415.95 8,328.67 9,368.33 10,560.74 11,940.50 13,553.76 15,463.15 12.9%
Market Total 14,209.84 15,979.74 17,977.44 20,251.27 22,848.57 25,835.40 29,300.24 33,361.13 38,178.16 13.3%

Global Opportunity
Forecast, 2020-2027
64
FIGURE 14. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET NON-BANKING FINANCIAL INSTITUTIONS (NBFC),
2019 & 2027 (%)
2019 2027
37.60%
35.62%
0.90% 15.91%
0.41%
17.83%
1.11% 0.77%
0.15% 0.39% 15.82% 18.68% 11.00%
0.27% 1.24% 2.81%
0.17% 11.83%
2.13% 3.10% 3.47% 1.09% 3.72%
1.43% 0.31% 0.78%
1.72% 2.94% 3.64%
1.30% 0.69% 1.17%
The Micro lending market for non-banking financial institutions (NBFC) was valued at $14,209.84 million in
Micro Lending
2019, and is projected to reach $38,178.16 million by 2027, registering a CAGR of 13.3% from 2020 to 2027.
Market
Latin America was the highest contributor with $5,343.30 million in 2019, and is estimated to reach $13,597.75
Global Opportunity million by 2027, at a CAGR of 12.5% during the forecast period. Africa is estimated to reach $1,419.20 million
Forecast, 2020-2027 by 2027 at a CAGR of 17.2%.
65
4.5. Others
The other segment includes community banks, mortgage pool and trusts, and others

The micro lending market for others was valued at $7,447.97 million in 2019, and is projected to reach
$18,788.92 million by 2027, growing at a CAGR of 12.4% from 2020 to 2027.
Faster business loans, changes in business preferences, and increase in small business administration (SBA)
lending programs are some of the major trends in the market. Increase in community banks mortgage pool
and FinTech firms providing online lending services as well as implementation of government regulations to
promote lender transparency are some of the major growth factors in the digital lending platform market.
Furthermore, providing consultancy services before availing loans and extending lending options for
businesses are some of the factors expected to provide lucrative opportunities in the upcoming years.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
66
share of the micro lending market for others in 2019, with the former constituting around 51.7% share.
TABLE 05. MICRO LENDING MARKET REVENUE FOR OTHER, BY REGION 2019-2027($MILLION)
CAGR%
REGION 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
North America 123.91 137.26 152.1 168.77 187.56 208.89 233.34 261.67 294.93 11.5%
Europe 428.81 472.36 520.49 574.22 634.43 702.4 779.89 869.26 973.67 10.9%
Asia-Pacific 3,851.13 4,313.06 4,832.45 5,421.54 6,092.11 6,860.73 7,749.60 8,788.38 10,017.28 12.8%
LAMEA 3,044.12 3,386.29 3,768.56 4,199.55 4,687.31 5,243.29 5,882.94 6,626.87 7,503.04 12.0%
Total 7,447.97 8,308.96 9,273.60 10,364.08 11,601.41 13,015.30 14,645.77 16,546.18 18,788.92 12.4%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
67
FIGURE 15. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR OTHERS, BY COUNTRY, 2019 & 2027 (%)
2019 2027
36.57%
34.51%
0.97% 15.79%
0.41%
17.74%
1.06% 0.82%
0.15% 0.40% 15.70% 18.56% 11.41%
3.18%
0.28% 1.19%
0.16% 12.29%
2.38% 3.42% 3.35% 1.12% 4.22%
1.38% 0.32% 0.79%
1.91% 3.25% 3.52%
1.25% 0.70% 1.20%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
68
The micro lending market for others was valued at $7,447.97 million in 2019, and is projected to reach
$18,788.92 million by 2027, registering a CAGR of 12.4% from 2020 to 2027. Latin America was the highest
contributor with $2,723.53 million in 2019, and is estimated to reach $6,484.11 million by 2027, at a CAGR of
11.6% during the forecast period. Africa is estimated to reach $792.82 million by 2027 at a CAGR of 16.3%.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
69
CHAPTER 5: MICRO LENDING MARKET, BY END USER
5.1. Overview
On the basis of end user, the global micro lending market is segmented into solo entrepreneurs & Individual,
micro enterprises, and small enterprises.
FIGURE 16. GLOBAL MICRO LENDING MARKET, BY END USER, 2019-2027
2019 2027
127,723.11 123,651.25
92,469.64
53,135.32
43,986.46
37,230.22
Small Enterprises Micro Enterprises Solo Enterprenuers or Self-Employed
Market The global micro lending market was valued at $134,352.00 million in 2019, and is projected to reach
$343,843.99 million by 2027, registering a CAGR of 12.6% from 2020 to 2027. The small enterprises segment
Global Opportunity
Analysis and Industry was the highest contributor to the market, with $53,135.32 million in 2019, and is estimated to reach
Forecast, 2020-2027 $127,723.11 million by 2027, at a CAGR of 11.7% during the forecast period.
70
The solo entrepreneurs & self-employed segment is estimated to reach $123,651.25 million by 2027, at a
CAGR of 13.9%. The small enterprises and solo entrepreneurs & self-employed segments collectively
accounted for around 72.3% market share in 2019, with the former constituting around 39.5% share. The solo
entrepreneurs & self-employed and micro enterprises segments are expected to witness significant CAGRs of
13.9% and 12.1%, respectively, during the forecast period. The cumulative share of these two segments was
60.5% in 2019, and is anticipated to reach 62.9% by 2027.
TABLE 06. GLOBAL MICRO LENDING MARKET REVENUE, BY END USER, 2019-2027($MILLION)
CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small
53,135.32 58,933.00 65,388.60 72,644.32 80,830.09 90,132.76 1,00,804.58 1,13,182.44 1,27,723.11 11.7%
Enterprises
Micro
37,230.22 41,455.00 46,179.16 51,509.97 57,547.78 64,435.44 72,365.24 81,593.93 92,469.64 12.1%
Enterprises
Solo
entrepreneurs
43,986.46 49,764.00 56,317.24 63,809.72 72,405.13 82,329.80 93,886.18 1,07,477.63 1,23,651.25 13.9%
& self-
employed
Total 1,34,352.00 1,50,152.00 1,67,885.00 1,87,964.00 2,10,783.00 2,36,898.00 2,67,056.00 3,02,254.00 3,43,843.99 12.6%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
71
5.2. Small Enterprises
Micro lending is increasingly used by many small and home business primarily to integrate the financial data
of business and segregate this information to deliver a desired analytical output for improved financial
planning. It helps business users to make smarter money decisions by highlighting spending trends, helping
to manage debt repayment, and tracking financial goals

The micro lending market for small enterprises was valued at $53,135.32 million in 2019, and is projected to
reach $127,723.11 million by 2027, growing at a CAGR of 11.7% from 2020 to 2027.
Micro lending helps small size business users to easily manage their business operations and funding as it
enables effective planning and management of the inflow & outflow of monetary funds, thereby driving the
adoption of micro lending services in this segment. For instance, OfficeTime is designed to help small
business with a particular kind of financial matter. It is a time-tracking software that records the time the user
spends on different programs. In addition, based on data, it generates invoices and reports. Moreover, small
business users are the primary users for this market due to advanced security features offered by the
products, user-friendliness of the software, cost-effective solutions, and ease of managing the finances of the
Micro Lending company and its employees. Furthermore, rise in number of startups in developing countries, such as India,
Market China, and others, is opportunistic for the market.
Global Opportunity For instance, Intuit QuickBooks has become India's leading cloud financial management software as it is
increasingly used by numerous Indian business and accountants to simply run their business finances.
Forecast, 2020-2027
72
share of the micro lending market for small enterprises in 2019, with the former constituting around 50.1%
share. Asia-Pacific and LAMEA are expected to witness significant CAGRs of 12.1% and 11.4% respectively,
during the forecast period. The cumulative share of these two regions was 92.5% in 2019, and is anticipated to
reach 93.1% by 2027.
TABLE 07. MICRO LENDING MARKET REVENUE FOR SMALL ENTERPRISES, BY REGION 2019-2027($MILLION)
CAGR%
REGION 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
North
1,004.18 1,106.41 1,219.48 1,345.75 1,487.34 1,647.31 1,829.81 2,040.42 2,286.67 10.9%
America
Europe 3,007.49 3,298.70 3,619.04 3,975.07 4,372.31 4,819.00 5,326.36 5,909.40 6,588.49 10.4%
Asia-
26,596.73 29,615.79 32,989.80 36,794.70 41,101.33 46,010.59 51,658.42 58,226.26 65,960.16 12.1%
Pacific
LAMEA 22,526.92 24,912.10 27,560.28 30,528.79 33,869.10 37,655.86 41,989.99 47,006.35 52,887.79 11.4%
Total 53,135.32 58,933.00 65,388.60 72,644.32 80,830.09 90,132.76 1,00,804.58 1,13,182.44 1,27,723.11 11.7%
Market
Global Opportunity
Forecast, 2020-2027
73
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR SMALL ENTERPRISES, BY COUNTRY,
2019 & 2027 (%)
2019 2027
38.56%
36.58%
0.93%
0.42% 15.10%
18.10%
1.17% 0.80%
0.15% 0.41% 10.72%
16.09% 17.80% 2.79%
0.29% 1.31%
0.16% 3.20% 11.58%
0.33% 2.20% 2.93% 1.04% 3.71%
1.60% 0.80%
1.46% 1.78% 2.79% 3.38%
0.71% 1.12%
The micro lending market for small enterprises was valued at $53,135.32 million in 2019, and is projected to
Micro Lending
reach $127,723.11 million by 2027, registering a CAGR of 11.7% from 2020 to 2027. Latin America was the
Market
highest contributor with $20,491.29 million in 2019, and is estimated to reach $46,723.39 million by 2027, at a
Global Opportunity CAGR of 10.9% during the forecast period. Africa is estimated to reach $4,738.10 million by 2027 at a CAGR of
Forecast, 2020-2027 15.6%.
74
5.3. Micro Enterprises

Micro lending provides access to micro enterprises in the form of start-up loans to fund new business
ventures and operating loans, which provide working capital for new businesses. Banks and financial
institutions offer micro lending service to micro enterprises from small village to smart city.

Asia-Pacific and LAMEA collectively accounted for around 92.8% share of the micro lending market for micro
enterprises in 2019, with the former constituting around 50.8% share. Asia-Pacific and LAMEA are expected to
witness significant CAGRs of 12.6% and 11.8% respectively, during the forecast period. The cumulative share
of these two regions was 92.8% in 2019, and is anticipated to reach 93.4% by 2027.
With the help of micro lending, micro enterprises have been incorporating new business across globe, and
receiving more profit by expanding their current business. This is considered as an important factor to boost
Micro Lending
micro lending platform in this segment. In addition, the governments of various Asia-pacific countries such as
Market India, Australia, and China are promoting micro business to expand new business includes travelling service
Global Opportunity business, machine manufacturing, and e-commerce business. More number of such initiatives are expected
provides lucrative opportunity to boost micro lending market. Furthermore, providing customized lending
Forecast, 2020-2027
75
services, changing borrower’s trend, and technological development are some of the key factors expected to
provide lucrative opportunities in the upcoming years. In addition, lower operating costs from more due
diligence and monitoring, and improving relation between poverty and microfinance are some of the major
growth factors that propel the growth of the micro lending market. Moreover, change in consumer
expectations and simplified lending processes via mobile applications & other financial management tools are
becoming some of the major trends in the market.

The micro lending market for micro enterprises was valued at $37,230.22 million in 2019, and is projected to
reach $92,469.64 million by 2027, growing at a CAGR of 12.1% from 2020 to 2027. Asia-Pacific was the highest
contributor with $18,900.17 million in 2019, and is anticipated to reach $48,441.37 million by 2027, registering
a CAGR of 12.6%.
TABLE 08. MICRO LENDING MARKET REVENUE FOR MICRO ENTERPRISES, BY REGION 2019-2027($MILLION)
CAGR%
REGION 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
North
643.41 711.29 786.64 871.09 966.08 1,073.74 1,196.94 1,339.51 1,506.64 11.3%
America
Europe 2,048.44 2,255.12 2,483.41 2,738.08 3,023.28 3,345.09 3,711.82 4,134.52 4,628.20 10.8%
Micro Lending
Asia-Pacific 18,900.17 21,128.89 23,630.26 26,462.43 29,680.83 33,363.74 37,616.26 42,578.72 48,441.37 12.6%
Market
LAMEA 15,638.20 17,359.69 19,278.84 21,438.37 23,877.59 26,652.86 29,840.21 33,541.18 37,893.43 11.8%
Global Opportunity
Total
Analysis and Industry 37,230.22 41,455.00 46,179.16 51,509.97 57,547.78 64,435.44 72,365.24 81,593.93 92,469.64 12.1%
Forecast, 2020-2027 Source: AMR Analysis
76
FIGURE 18. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR MICRO ENTERPRISES, BY COUNTRY,
2019 & 2027 (%)
2019 2027
38.18%
36.16%
0.91%
0.41% 15.41%
18.17%
1.14% 0.78%
0.15% 0.39% 10.88%
16.13% 18.17% 2.80%
0.27% 1.27%
0.16% 3.31% 11.75%
0.31% 2.12% 2.99% 1.03% 3.71%
1.46% 0.78%
1.71% 2.84% 3.50%
1.32% 0.69% 1.10%
The micro lending market for micro enterprises was valued at $37,230.22 million in 2019, and is projected to
Micro Lending
reach $92,469.64 million by 2027, registering a CAGR of 12.1% from 2020 to 2027. Latin America was the
Market
highest contributor with $14,214.21 million in 2019, and is estimated to reach $33,440.40 million by 2027, at a
Global Opportunity CAGR of 11.4% during the forecast period. Africa is estimated to reach $3,434.33 million by 2027 at a CAGR of
Forecast, 2020-2027 16.1%.
77
5.4. Solo entrepreneurs & self-employed

The solo entrepreneurs & self-employed segment adopts micro lending to manage bank accounts, credit
cards, investments, income, and expenditure of an individual in a smartphone or computer. It has the
capability to manage monetary transactions by helping an individual to manage monthly expenses efficiently.
Micro lending functions similar to a dashboard for the user’s money, which helps track transactions and alerts
the user when a problem arises.

Asia-Pacific and LAMEA collectively accounted for around 92.6% share of the micro lending market for solo
entrepreneurs & self-employed in 2019, with the former constituting around 49.7% share. Asia-Pacific and
LAMEA are expected to witness significant CAGRs of 14.3% and 13.5% respectively, during the forecast period.
The cumulative share of these two regions was 92.6% in 2019, and is anticipated to reach 93.2% by 2027.
Micro Lending
There is increase in internet penetration and the use of internet for day-to-day activities. These factors drive
Market the demand for micro lending services to expand business and manage financial operations. Moreover, use of
Global Opportunity this lending services makes it easy to handle every financial details as it can track investments and small
transactions.
Forecast, 2020-2027
78
In addition, it can be linked with internet banking to provide live updates of transactions, which help
individual consumer in money management, thereby increasing its adoption among the individual consumer
segment.
Furthermore, key players of the market are giving importance to the enhancement of operational efficiency to
gain a competitive advantage over competitors and launching new products with optimized performance.
This is opportunistic for the market.

The micro lending market for solo entrepreneurs & self-employed was valued at $43,986.46 million in 2019,
and is projected to reach $123,651.25 million by 2027, growing at a CAGR of 13.9% from 2020 to 2027. Asia-
Pacific was the highest contributor with $21,880.62 million in 2019, and is anticipated to reach $63,537.73
million by 2027, registering a CAGR of 14.3%.
TABLE 09. MICRO LENDING MARKET REVENUE FOR SOLO ENTREPRENEURS & SELF-EMPLOYED, BY REGION
2019-2027($MILLION)
CAGR%
REGION 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
North
770.75 866.26 973.84 1,096.03 1,235.28 1,395.05 1,579.96 1,796.17 2,052.03 13.1%
America
Micro Lending Europe 2,467.78 2,760.85 3,089.25 3,460.39 3,881.30 4,361.89 4,915.50 5,559.94 6,319.36 12.6%
Asia-
Market Pacific
21,880.62 24,856.85 28,245.80 32,134.60 36,611.77 41,798.99 47,858.57 55,006.96 63,537.73 14.3%
LAMEA 18,867.31 21,280.05 24,008.35 27,118.69 30,676.77 34,773.87 39,532.15 45,114.57 51,742.12 13.5%
Global Opportunity
Total 43,986.46 49,764.00 56,317.24 63,809.72 72,405.13 82,329.80 93,886.18 1,07,477.63 1,23,651.25 13.9%
79
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF MICRO LENDING MARKET FOR SOLO ENTREPRENEURS & SELF EMPLOYED,
BY COUNTRY, 2019 & 2027 (%)
2019 2027
39.04%
36.99%
0.92%
0.42%
15.05%
17.89%
1.16% 0.78%
0.15% 0.40% 10.70%
15.91% 17.76% 2.80%
0.27% 1.30%
0.16% 3.20% 11.56%
0.31% 2.16% 2.90% 1.06% 3.72%
1.48% 0.81%
1.35% 1.75% 2.76% 3.39%
0.71% 1.13%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
80
The micro lending market for solo entrepreneurs & self-employed was valued at $43,986.46 million in 2019,
and is projected to reach $123,651.25 million by 2027, registering a CAGR of 13.9% from 2020 to 2027. Latin
America was the highest contributor with $17,171.19 million in 2019, and is estimated to reach $45,741.33
million by 2027, at a CAGR of 13.1% during the forecast period. Africa is estimated to reach $4,597.66 million
by 2027 at a CAGR of 17.9%. Latin America and China collectively accounted for around 56.9% market share in
2019, with the former constituting around 39.0% share. Africa and India are expected to witness significant
CAGRs of 17.9% and 16.3%, respectively, during the forecast period. The cumulative share of these two
countries was 17.9% in 2019, and is anticipated to reach 21.5% by 2027.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
81
CHAPTER 6: MICRO LENDING MARKET BY REGION
6.1. Overview
On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-
Pacific dominates the market in terms of market share followed by LAMEA and Europe.
 The geographic segmentation of the micro lending market is as follows:

 The North American region includes the U.S., and Canada,
 The European region includes the UK, Germany, France, Italy, Spain, Netherlands and rest of Europe
 The Asia-Pacific region includes China, India, Japan, South Korea, Australia and rest of Asia-Pacific
 The LAMEA region includes Latin America, Middle East, and Africa.
The global micro lending market was valued at $134,352.00 million in 2019, and is projected to reach
$343,844.00 million by 2027, registering a CAGR of 12.6%. Asia-Pacific was the highest revenue contributor,
accounting for $67,377.53 million in 2019, and is estimated to reach $177,939.27 million by 2027, with a CAGR
of 13.0%. Asia-Pacific is estimated to reach $177,939.27 million by 2027, at a significant CAGR of 13.0%. Asia-
Micro Lending Pacific and LAMEA collectively accounted for around 92.6% share in 2019, with the former constituting around
Market 50.2% share. Asia-Pacific and LAMEA are expected to witness considerable CAGRs of 13.0% and 12.2%,
respectively, during the forecast period. The cumulative share of these two regions was 92.6% in 2019, and is
Global Opportunity
Analysis and Industry anticipated to reach 93.2% by 2027.
Forecast, 2020-2027
82
TABLE 10. GLOBAL MICRO LENDING MARKET REVENUE, BY REGION, 2019 2027 ($MILLION)
CAGR%
REGION 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
North
2,418.34 2,683.97 2,979.96 3,312.87 3,688.70 4,116.10 4,606.72 5,176.10 5,845.35 11.8%
America
Europe 7,523.71 8,314.67 9,191.70 10,173.55 11,276.89 12,525.98 13,953.68 15,603.86 17,536.04 11.3%
Asia-Pacific 67,377.53 75,601.53 84,865.87 95,391.73 1,07,393.94 1,21,173.33 1,37,133.26 1,55,811.94 1,77,939.27 13.0%
LAMEA 57,032.42 63,551.83 70,847.47 79,085.85 88,423.47 99,082.59 1,11,362.35 1,25,662.10 1,42,523.34 12.2%
Total 1,34,352.00 1,50,152.00 1,67,885.00 1,87,964.00 2,10,783.00 2,36,898.00 2,67,056.00 3,02,254.00 3,43,844.00 12.6%
Source: Primary Research, Secondary Research, and AMR Analysis
6.2. North America

North America includes the U.S., and Canada. Use of micro lending enables business to improve product
efficiency, and to introduce innovative products. Rise in adoption of micro lending services in the North
American countries owing to its numerous benefits such as receiving loan more easily, getting loan with lower
interest rate, and creating more employment opportunities boosts the market growth.
6.2.1. Key market trends, growth factors and opportunities

Micro Lending The solo entrepreneurs & self-employed segment is estimated to reach $2,052.03 million by 2027 at a CAGR
Market of 13.1%. The small enterprises and solo entrepreneurs & self-employed segments collectively accounted for
around 73.4% share in 2019, with the former constituting around 41.5% share.
Global Opportunity
Forecast, 2020-2027
83
The solo entrepreneurs & self-employed and micro enterprises segments are expected to witness significant
CAGRs of 13.1% and 11.3% respectively, during the forecast period. The cumulative share of these two
segments was 58.5% in 2019, and is anticipated to reach 60.9% by 2027.
The micro lending market is rapidly growing in North America due to presence of some of the leading market
players and rise in government support to promote small-business and a greater number of low- and
moderate-income peoples in this region. In addition, many market key players are integrating artificial
intelligence and machine learning technology within micro lending process to resolve problems related to the
traditional loan-underwriting process. This provides lucrative opportunity to micro lending market in this
region. The micro lending users have evolved over the previous couple of years in this region, due to low-
interest rates, more flexible in terms of qualification requirements, and hassle free lending process.
Furthermore, rise in number of small business in North America owing to the growing financial resources such
as borrowing power and cash resources across the region. For instance, according to Oberlo the number of
small businesses in the U.S has reached 31.7 million in 2020. This provides lucrative opportunity for the
growth of micro lending market in this region.
6.2.2. Market size and forecast, by provider

The North America micro lending market was valued at $2,418.34 million in 2019, and is projected to reach
Micro Lending
$5,845.35 million by 2027, growing at a CAGR of 11.8% from 2020 to 2027. The banks segment was the
Market
highest contributor with $1,171.47 million in 2019, and is estimated to reach $2,572.66 million by 2027,
Global Opportunity
registering a CAGR of 10.4%. The micro finance institute (MFI) segment is estimated to reach $2,363.46 million
Forecast, 2020-2027 by 2027 at a CAGR of 13.2%.
84
TABLE 11. NORTH AMERICA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)
CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 1,171.47 1,285.29 1,410.53 1,549.77 1,705.16 1,879.95 2,078.52 2,306.76 2,572.66 10.4%
Micro Finance Institute

881.15 991.34 1,115.56 1,256.74 1,417.74 1,602.58 1,816.61 2,067.00 2,363.46 13.2%
(MFI)
Non-banking financial
241.81 270.08 301.76 337.59 378.24 424.69 478.25 540.66 614.3 12.5%
institutions (NBFC)
Others 123.91 137.26 152.1 168.77 187.56 208.89 233.34 261.67 294.93 11.5%
Total 2,418.34 2,683.97 2,979.96 3,312.87 3,688.70 4,116.10 4,606.72 5,176.10 5,845.35 11.8%
6.2.3. Market size and forecast, by end user

$5,845.35 million by 2027, growing at a CAGR of 11.8% from 2020 to 2027. The small enterprises segment was
the highest contributor with $1,004.18 million in 2019, and is estimated to reach $2,286.67 million by 2027,
registering a CAGR of 10.9%.
TABLE 12. NORTH AMERICA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)
CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small Enterprises
Micro Lending
1,004.18 1,106.41 1,219.48 1,345.75 1,487.34 1,647.31 1,829.81 2,040.42 2,286.67 10.9%
Market
Micro Enterprises 643.41 711.29 786.64 871.09 966.08 1,073.74 1,196.94 1,339.51 1,506.64 11.3%
Solo entrepreneurs &

770.75 866.26 973.84 1,096.03 1,235.28 1,395.05 1,579.96 1,796.17 2,052.03 13.1%
Global Opportunity self-employed
Analysis and Industry Total 2,418.34 2,683.97 2,979.96 3,312.87 3,688.70 4,116.10 4,606.72 5,176.10 5,845.35 11.8%
Forecast, 2020-2027
85
6.2.4. Market size and forecast, by country
$5,845.35 million by 2027, registering a CAGR of 11.8%. U.S. was the highest revenue contributor with
$2,045.91 million in 2019, and is estimated to reach $4,755.19 million by 2027, registering a CAGR of 11.2%.
Canada is estimated to reach $1,090.16 million by 2027, at a significant CAGR of 14.4%.
TABLE 13. NORTH AMERICA MICRO LENDING MARKET, BY COUNTRY, 2019-2027($MILLION)

CAGR%
COUNTRY 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
U.S. 2,045.91 2,259.73 2,496.83 2,762.31 3,060.70 3,398.61 3,784.99 4,231.79 4,755.19 11.2%
Canada 372.42 424.23 483.13 550.56 628 717.49 821.72 944.31 1,090.16 14.4%
Total 2,418.34 2,683.97 2,979.96 3,312.87 3,688.70 4,116.10 4,606.72 5,176.10 5,845.35 11.8%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
86
6.2.4.1. U.S.
FIGURE 20. U.S. MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 11.2%
4,755.19
4,231.79
3,784.99
3,398.61
3,060.70
2,762.31
2,259.73 2,496.83
2,045.91
2019 2020 2021 2022 2023 2024 2025 2026 2027

6.2.4.1.1. Market size and forecast, by provider
The U.S. micro lending market was valued at $2,045.91 million in 2019, and is projected to reach $4,755.19
Micro Lending million by 2027, registering a CAGR of 11.2%. The banks segment was the highest revenue contributor with
Market $993.90 million in 2019, and is estimated to reach $2,100.84 million by 2027, registering a CAGR of 9.9%. The
Global Opportunity micro finance institute (MFI) segment is estimated to reach $1,923.47 million by 2027, at a significant CAGR of
Analysis and Industry 12.7%. The banks and micro finance institute (MFI) segments collectively accounted for around 85.0% share in
Forecast, 2020-2027
2019, with the former constituting around 48.6% share.
87
The micro finance institute (MFI) and non-banking financial institutions (NBFC) segments are expected to
witness considerable CAGRs of 12.7% and 11.9%, respectively, during the forecast period. The cumulative
share of these two segments was 46.4% in 2019, and is anticipated to reach 50.9% by 2027.
TABLE 14. U.S. MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 993.9 1,085.35 1,185.50 1,296.35 1,419.55 1,557.59 1,713.84 1,892.88 2,100.84 9.9%

745.74 834.97 935.06 1,048.30 1,176.84 1,323.76 1,493.18 1,690.60 1,923.47 12.7%
(MFI)
203.57 226.26 251.56 280.03 312.19 348.78 390.8 439.58 496.92 11.9%
institutions (NBFC)
Others 102.7 113.16 124.72 137.63 152.12 168.49 187.17 208.73 233.96 10.9%
Total 2,045.91 2,259.73 2,496.83 2,762.31 3,060.70 3,398.61 3,784.99 4,231.79 4,755.19 11.2%
6.2.4.1.2. Market size and forecast, by end user
The U.S. micro lending market was valued at $2,045.91 million in 2019, and is projected to reach $4,755.19
million by 2027, registering a CAGR of 11.2%. The small enterprises segment was the highest revenue
Micro Lending contributor with $850.89 million in 2019, and is estimated to reach $1,864.03 million by 2027, registering a
Market CAGR of 10.4%. The solo entrepreneurs & self-employed segment is estimated to reach $1,668.12 million by
2027, at a significant CAGR of 12.6%. The small enterprises and solo entrepreneurs & self-employed segments
Global Opportunity
Analysis and Industry collectively accounted for around 73.4% share in 2019, with the former constituting around 41.6% share.
Forecast, 2020-2027
88
The solo entrepreneurs & self-employed and micro enterprises segments are expected to witness
considerable CAGRs of 12.6% and 10.8%, respectively, during the forecast period. The cumulative share of
these two segments was 58.4% in 2019, and is anticipated to reach 60.8% by 2027.
TABLE 15. U.S. MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small Enterprises 850.89 933.07 1,023.51 1,124.09 1,236.37 1,362.72 1,506.33 1,671.50 1,864.03 10.4%
Micro Enterprises 543.39 597.81 657.92 724.97 800.07 884.83 981.45 1,092.86 1,223.04 10.8%

651.62 728.85 815.4 913.25 1,024.26 1,151.07 1,297.21 1,467.42 1,668.12 12.6%
self-employed
Total 2,045.91 2,259.73 2,496.83 2,762.31 3,060.70 3,398.61 3,784.99 4,231.79 4,755.19 11.2%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
89
6.2.4.2. Canada
FIGURE 21. CANADA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 14.4%
1,090.16
944.31
821.72
717.49
628.00
550.56
483.13
372.42 424.23
2019 2020 2021 2022 2023 2024 2025 2026 2027
Micro Lending The Canada micro lending market was valued at $372.42 million in 2019, and is projected to reach $1,090.16
Market million by 2027, registering a CAGR of 14.4%. The banks segment was the highest revenue contributor with
$177.57 million in 2019, and is estimated to reach $471.81 million by 2027, registering a CAGR of 13.1%. The
Global Opportunity
Analysis and Industry micro finance institute (MFI) segment is estimated to reach $439.99 million by 2027, at a significant CAGR of
Forecast, 2020-2027 15.9%.
90
The banks and micro finance institute (MFI) segments collectively accounted for around 84.0% share in 2019,
with the former constituting around 47.7% share. The micro finance institute (MFI) and non-banking financial
institutions (NBFC) segments are expected to witness considerable CAGRs of 15.9% and 15.1%, respectively,
during the forecast period. The cumulative share of these two segments was 46.6% in 2019, and is anticipated
to reach 51.1% by 2027.
TABLE 16. CANADA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 177.57 199.94 225.04 253.42 285.61 322.36 364.67 413.89 471.81 13.1%
Micro Finance
135.41 156.37 180.5 208.44 240.9 278.82 323.43 376.41 439.99 15.9%
Institute (MFI)
Non-banking
financial institutions 38.24 43.82 50.21 57.56 66.05 75.91 87.45 101.09 117.38 15.1%
(NBFC)
Others 21.2 24.1 27.39 31.14 35.44 40.4 46.17 52.94 60.98 14.2%
Total 372.42 424.23 483.13 550.56 628 717.49 821.72 944.31 1,090.16 14.4%

Micro Lending The Canada micro lending market was valued at $372.42 million in 2019, and is projected to reach $1,090.16
Market million by 2027, registering a CAGR of 14.4%. The small enterprises segment was the highest revenue
Global Opportunity contributor with $153.28 million in 2019, and is estimated to reach $422.64 million by 2027, registering a
Analysis and Industry CAGR of 13.6%. The solo entrepreneurs & self-employed segment is estimated to reach $383.91 million by
Forecast, 2020-2027
2027, at a significant CAGR of 15.8%.
91
The small enterprises and solo entrepreneurs & self-employed segments collectively accounted for around
73.1% share in 2019, with the former constituting around 41.2% share. The solo entrepreneurs & self-
employed and micro enterprises segments are expected to witness considerable CAGRs of 15.8% and 14.0%,
respectively, during the forecast period. The cumulative share of these two segments was 58.8% in 2019, and
is anticipated to reach 61.2% by 2027.
TABLE 17. CANADA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small Enterprises 153.28 173.34 195.96 221.67 250.97 284.59 323.48 368.92 422.64 13.6%
Micro Enterprises 100.01 113.48 128.73 146.12 166.01 188.91 215.5 246.65 283.6 14.0%
Solo entrepreneurs & self-

119.12 137.41 158.44 182.77 211.02 243.98 282.75 328.74 383.91 15.8%
employed
Total 372.42 424.23 483.13 550.56 628 717.49 821.72 944.31 1,090.16 14.4%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
92
6.3. Europe
The market in Europe is analyzed across France, Spain, Poland, UK, Germany, and rest of Europe. In addition,
continuous growth in number of vulnerable clients & microenterprises and constant improvements in their
institutional capacity drive the growth of the micro lending market in this region. Furthermore, significant
increase in the number of microloan distributers and rise in number of start-up companies in the European
nations propel the growth of the market

The solo entrepreneurs & self-employed segment is estimated to reach $6,319.36 million by 2027 at a CAGR
of 12.6%. The small enterprises and solo entrepreneurs & self-employed segments collectively accounted for
around 72.8% share in 2019, with the former constituting around 40.0% share. The solo entrepreneurs & self-
employed and micro enterprises segments are expected to witness significant CAGRs of 12.6% and 10.8%
The micro lending policy offers numerous benefits to end users such as promoting self-employment, fighting
against social & financial exclusion, and supporting microenterprises. In addition, surge in financial crisis
Micro Lending across various banking domains and rise in profit inequality in various parts of Europe drive the growth of the
Market micro lending market in this region. In addition, surge in demand for microenterprises in countries such as the
UK, Germany, and France, drives the growth of the market. Moreover, increase in adoption of micro lending
Global Opportunity
Analysis and Industry policy among small business, owing to its various benefits such as receiving loan amount as per requirement,
Forecast, 2020-2027 increasing productivity of the organization, and reducing operational cost of enterprises.
93
Furthermore, presence of a large number of SMEs and growing adoption of micro lending services among
SMEs provides lucrative opportunity to boost micro lending market in this region. However, the need of micro
lending service for this sector differs, as they require increase earning power, faster performance in work, and
improve quality of product with smaller production units.

The Europe micro lending market was valued at $7,523.71 million in 2019, and is projected to reach
registering a CAGR of 9.9%. The micro finance institute (MFI) segment is estimated to reach $7,105.41 million
by 2027 at a CAGR of 12.7%.
TABLE 18. EUROPE MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 3,569.16 3,899.05 4,260.21 4,659.81 5,103.69 5,600.71 6,162.99 6,806.76 7,554.01 9.9%
Micro Finance
2,746.21 3,076.68 3,447.37 3,866.72 4,342.71 4,886.65 5,513.70 6,244.14 7,105.41 12.7%
Institute (MFI)
Non-banking
Micro Lending financial
779.53 866.58 963.63 1,072.80 1,196.07 1,336.23 1,497.09 1,683.71 1,902.96 11.9%
institutions
Market (NBFC)
Others 428.81 472.36 520.49 574.22 634.43 702.4 779.89 869.26 973.67 10.9%
Global Opportunity
Analysis and Industry Total 7,523.71 8,314.67 9,191.70 10,173.55 11,276.89 12,525.98 13,953.68 15,603.86 17,536.04 11.3%
Forecast, 2020-2027
94
$17,536.04 million by 2027, growing at a CAGR of 11.3% from 2020 to 2027. The small enterprises segment
TABLE 19. EUROPE MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small
3,007.49 3,298.70 3,619.04 3,975.07 4,372.31 4,819.00 5,326.36 5,909.40 6,588.49 10.4%
Enterprises
Micro Enterprises 2,048.44 2,255.12 2,483.41 2,738.08 3,023.28 3,345.09 3,711.82 4,134.52 4,628.20 10.8%
Solo
entrepreneurs & 2,467.78 2,760.85 3,089.25 3,460.39 3,881.30 4,361.89 4,915.50 5,559.94 6,319.36 12.6%
self-employed
Total 7,523.71 8,314.67 9,191.70 10,173.55 11,276.89 12,525.98 13,953.68 15,603.86 17,536.04 11.3%

Micro Lending
$17,536.04 million by 2027, registering a CAGR of 11.3%. France was the highest revenue contributor with
Market
$1,551.39 million in 2019, and is estimated to reach $4,454.16 million by 2027, registering a CAGR of 14.1% .
Global Opportunity France is estimated to reach $4,454.16 million by 2027, at a significant CAGR of 14.1%. France and Spain
Forecast, 2020-2027 collectively accounted for around 37.1% share in 2019, with the former constituting around 20.6% share.
95
France and UK are expected to witness considerable CAGRs of 14.1% and 13.7%, respectively, during the
forecast period. The cumulative share of these two segments was 23.3% in 2019, and is anticipated to reach
28.6% by 2027.
TABLE 20. NORTH AMERICA MICRO LENDING MARKET, BY COUNTRY, 2019-2027($MILLION)

CAGR%
COUNTRY 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
France 1,551.39 1,764.16 2,005.17 2,280.15 2,594.81 2,957.07 3,377.49 3,870.15 4,454.16 14.1%
Spain 1,237.65 1,357.37 1,489.06 1,635.40 1,798.66 1,982.24 2,190.73 2,430.30 2,709.32 10.4%
Poland 1,069.12 1,177.88 1,298.10 1,432.31 1,582.71 1,752.54 1,946.19 2,169.52 2,430.50 10.9%
UK 199.38 225.54 255.07 288.67 327.03 371.08 422.1 481.77 552.39 13.7%
Germany 558.26 621.83 692.82 772.81 863.25 966.22 1,084.55 1,221.98 1,383.59 12.1%
Rest of Europe 2,907.91 3,167.89 3,451.48 3,764.21 4,110.43 4,496.83 4,932.62 5,430.14 6,006.10 9.6%
Total 7,523.71 8,314.67 9,191.70 10,173.55 11,276.89 12,525.98 13,953.68 15,603.86 17,536.04 11.3%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
96
6.3.4.1. France
FIGURE 22. FRANCE MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 14,1%
4,454.16
3,870.15
3,377.49
2,957.07
2,594.81
2,280.15
1,764.16 2,005.17
1,551.39
2019 2020 2021 2022 2023 2024 2025 2026 2027

The France micro lending market was valued at $1,551.39 million in 2019, and is projected to reach $4,454.16
million by 2027, registering a CAGR of 14.1%. The banks segment was the highest revenue contributor with
Micro Lending
$744.67 million in 2019, and is estimated to reach $1,942.01 million by 2027, registering a CAGR of 12.8%. The
Market micro finance institute (MFI) segment is estimated to reach $1,815.07 million by 2027, at a significant CAGR of
Global Opportunity 15.6%. The banks and micro finance institute (MFI) segments collectively accounted for around 84.8% share in
Forecast, 2020-2027 2019, with the former constituting around 48.0% share.
97
The micro finance institute (MFI) and Non-banking financial institutions (NBFC) segments are expected to
share of these two segments was 46.9% in 2019, and is anticipated to reach 51.4% by 2027
TABLE 21. FRANCE MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 744.67 837.1 940.42 1,056.85 1,188.42 1,338.07 1,509.74 1,708.67 1,942.01 12.8%

570.14 657.15 756.95 872.16 1,005.49 1,160.65 1,342.55 1,557.73 1,815.07 15.6%
(MFI)
157.47 180.17 206.03 235.71 269.86 309.38 355.48 409.75 474.37 14.8%
institutions (NBFC)
Others 79.12 89.75 101.76 115.43 131.04 148.96 169.72 193.99 222.71 13.9%
Total 1,551.39 1,764.16 2,005.17 2,280.15 2,594.81 2,957.07 3,377.49 3,870.15 4,454.16 14.1%
The France micro lending market was valued at $1,551.39 million in 2019, and is projected to reach $4,454.16
Global Opportunity
Forecast, 2020-2027
98
TABLE 22. FRANCE MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small Enterprises 619.16 698.81 788.28 889.57 1,004.58 1,136.00 1,287.41 1,463.64 1,671.20 13.3%
Micro Enterprises 422.6 478.71 542 613.93 695.93 789.98 898.75 1,025.78 1,175.90 13.7%

509.63 586.65 674.89 776.65 894.3 1,031.09 1,191.32 1,380.72 1,607.06 15.5%
self-employed
Total 1,551.39 1,764.16 2,005.17 2,280.15 2,594.81 2,957.07 3,377.49 3,870.15 4,454.16 14.1%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
99
6.3.4.2. Spain
FIGURE 23. SPAIN MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 10.4%
2,709.32
2,430.30
2,190.73
1,982.24
1,798.66
1,489.06 1,635.40
1,237.65 1,357.37
2019 2020 2021 2022 2023 2024 2025 2026 2027

The Spain micro lending market was valued at $1,237.65 million in 2019, and is projected to reach $2,709.32
Market $583.20 million in 2019, and is estimated to reach $1,157.46 million by 2027, registering a CAGR of 9.0%. The
Global Opportunity micro finance institute (MFI) segment is estimated to reach $1,102.45 million by 2027, at a significant CAGR of
Forecast, 2020-2027
100
TABLE 23. SPAIN MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 583.2 632.15 685.28 743.64 807.99 879.55 960.01 1,051.63 1,157.46 9.0%

454.1 504.82 561.24 624.57 695.92 776.86 869.52 976.76 1,102.45 11.8%
(MFI)
128.38 141.64 156.31 172.7 191.06 211.8 235.45 262.72 294.57 11.0%
institutions (NBFC)
Others 71.97 78.76 86.22 94.49 103.7 114.03 125.75 139.2 154.84 10.1%
Total 1,237.65 1,357.37 1,489.06 1,635.40 1,798.66 1,982.24 2,190.73 2,430.30 2,709.32 10.4%
The Spain micro lending market was valued at $1,237.65 million in 2019, and is projected to reach $2,709.32
Market CAGR of 9.5%. The solo entrepreneurs & self-employed segment is estimated to reach $970.23 million by
Global Opportunity
Forecast, 2020-2027
101
TABLE 24. SPAIN MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small Enterprises 494.55 538.34 586.11 638.83 697.23 762.47 836.12 920.3 1,017.86 9.5%

403.24 447.72 497.17 552.64 615.07 685.85 766.83 860.5 970.23 11.7%
self-employed
Total 1,237.65 1,357.37 1,489.06 1,635.40 1,798.66 1,982.24 2,190.73 2,430.30 2,709.32 10.4%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
102
6.3.4.3. Poland
FIGURE 24. POLAND MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 10.9%
2,430.50
2,169.52
1,946.19
1,752.54
1,582.71
1,298.10 1,432.31
1,069.12 1,177.88
2019 2020 2021 2022 2023 2024 2025 2026 2027

The Poland micro lending market was valued at $1,069.12 million in 2019, and is projected to reach $2,430.50
Micro Lending $511.83 million in 2019, and is estimated to reach $1,056.64 million by 2027, registering a CAGR of 9.6%. The
Market micro finance institute (MFI) segment is estimated to reach $979.11 million by 2027, at a significant CAGR of
Global Opportunity 12.4%. The banks and micro finance institute (MFI) segments collectively accounted for around 84.2% share in
Analysis and Industry 2019, with the former constituting around 47.9% share.
Forecast, 2020-2027
103
TABLE 25. POLAND MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 511.83 557.42 607.18 662.07 722.89 790.82 867.5 955.11 1,056.64 9.6%

387.92 433.27 483.99 541.19 605.93 679.71 764.55 863.13 979.11 12.4%
(MFI)
110.63 122.62 135.94 150.89 167.73 186.82 208.68 233.98 263.65 11.6%
institutions (NBFC)
Others 58.74 64.57 70.99 78.16 86.16 95.19 105.47 117.3 131.1 10.6%
Total 1,069.12 1,177.88 1,298.10 1,432.31 1,582.71 1,752.54 1,946.19 2,169.52 2,430.50 10.90%
The Poland micro lending market was valued at $1,069.12 million in 2019, and is projected to reach $2,430.50
Micro Lending contributor with $423.80 million in 2019, and is estimated to reach $905.35 million by 2027, registering a
Global Opportunity
Forecast, 2020-2027
104
TABLE 26. POLAND MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027

354.28 395.07 440.64 491.98 550.03 616.13 692.06 780.24 883.91 12.2%
self-employed
Total 1,069.12 1,177.88 1,298.10 1,432.31 1,582.71 1,752.54 1,946.19 2,169.52 2,430.50 10.9%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
105
6.3.4.4. UK
FIGURE 25. UK MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 13.7%
552.39
481.77
422.10
371.08
327.03
288.67
225.54 255.07
199.38
2019 2020 2021 2022 2023 2024 2025 2026 2027

The UK micro lending market was valued at $199.38 million in 2019, and is projected to reach $552.39 million
Micro Lending by 2027, registering a CAGR of 13.7%. The banks segment was the highest revenue contributor with $93.13
Market million in 2019, and is estimated to reach $233.70 million by 2027, registering a CAGR of 12.2%. The micro
Global Opportunity finance institute (MFI) segment is estimated to reach $224.19 million by 2027, at a significant CAGR of 15.1%.
Analysis and Industry The banks and micro finance institute (MFI) segments collectively accounted for around 83.3% share in 2019,
Forecast, 2020-2027
with the former constituting around 46.7% share.
106
TABLE 27. UK MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 93.13 104.1 116.33 130.07 145.55 163.12 183.22 206.48 233.7 12.2%

72.94 83.64 95.87 109.94 126.19 145.04 167.09 193.12 224.19 15.1%
(MFI)
21.98 25.01 28.44 32.37 36.87 42.07 48.12 55.23 63.67 14.3%
institutions (NBFC)
Others 11.33 12.78 14.43 16.29 18.42 20.85 23.66 26.95 30.83 13.4%
Total 199.38 225.54 255.07 288.67 327.03 371.08 422.1 481.77 552.39 13.7%
The UK micro lending market was valued at $199.38 million in 2019, and is projected to reach $552.39 million
by 2027, registering a CAGR of 13.7%. The small enterprises segment was the highest revenue contributor
Micro Lending with $79.10 million in 2019, and is estimated to reach $205.95 million by 2027, registering a CAGR of 12.8%.
Market The solo entrepreneurs & self-employed segment is estimated to reach $198.60 million by 2027, at a
significant CAGR of 15.0%. The small enterprises and solo entrepreneurs & self-employed segments
Global Opportunity
Forecast, 2020-2027
107
TABLE 28. UK MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027

65.24 74.71 85.53 97.96 112.3 128.92 148.35 171.27 198.6 15.0%
employed
Total 199.38 225.54 255.07 288.67 327.03 371.08 422.1 481.77 552.39 13.7%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
108
6.3.4.5. Germany
FIGURE 26. GERMANY MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 12.1%
1,383.59
1,221.98
1,084.55
966.22
863.25
772.81
621.83 692.82
558.26
2019 2020 2021 2022 2023 2024 2025 2026 2027

The Germany micro lending market was valued at $558.26 million in 2019, and is projected to reach $1,383.59
Market $265.40 million in 2019, and is estimated to reach $596.88 million by 2027, registering a CAGR of 10.7%. The
Global Opportunity micro finance institute (MFI) segment is estimated to reach $561.16 million by 2027, at a significant CAGR of
Forecast, 2020-2027
109
TABLE 29. GERMANY MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 265.4 292.2 321.75 354.64 391.4 432.77 479.8 533.88 596.88 10.7%

204.09 230.44 260.21 294.12 332.85 377.39 429.03 489.5 561.16 13.6%
(MFI)
58.04 65.04 72.89 81.79 91.9 103.47 116.82 132.39 150.76 12.8%
institutions (NBFC)
Others 30.74 34.16 37.97 42.26 47.1 52.59 58.9 66.21 74.79 11.8%
Total 558.26 621.83 692.82 772.81 863.25 966.22 1,084.55 1,221.98 1,383.59 12.1%
The Germany micro lending market was valued at $558.26 million in 2019, and is projected to reach $1,383.59
Micro Lending contributor with $222.67 million in 2019, and is estimated to reach $518.81 million by 2027, registering a
Global Opportunity
Forecast, 2020-2027
110
TABLE 30. GERMANY MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Micro Enterprises 152.02 168.67 187.2 208 231.44 258.03 288.49 323.77 365.13 11.7%

183.57 206.99 233.41 263.48 297.8 337.22 382.9 436.35 499.65 13.4%
employed
Total 558.26 621.83 692.82 772.81 863.25 966.22 1,084.55 1,221.98 1,383.59 12.1%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
111
6.3.4.6. Rest of Europe
FIGURE 27. REST OF EUROPE MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 9.6%
6,006.10
5,430.14
4,932.62
4,496.83
4,110.43
3,451.48 3,764.21
2,907.91 3,167.89
2019 2020 2021 2022 2023 2024 2025 2026 2027

The rest of Europe micro lending market was valued at $2,907.91 million in 2019, and is projected to reach
Micro Lending $6,006.10 million by 2027, registering a CAGR of 9.6%. The banks segment was the highest revenue
Market contributor with $1,370.94 million in 2019, and is estimated to reach $2,567.32 million by 2027, registering a
Global Opportunity CAGR of 8.2%. The micro finance institute (MFI) segment is estimated to reach $2,423.44 million by 2027, at a
Analysis and Industry significant CAGR of 11.0%. The banks and micro finance institute (MFI) segments collectively accounted for
Forecast, 2020-2027
112
TABLE 31. REST OF EUROPE MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 1,370.94 1,476.08 1,589.24 1,712.54 1,847.44 1,996.38 2,162.72 2,350.99 2,567.32 8.2%
Micro Finance
1,057.02 1,167.36 1,289.12 1,424.74 1,576.34 1,747.00 1,940.97 2,163.90 2,423.44 11.0%
Institute (MFI)
Non-banking
financial institutions 303.04 332.11 364 399.34 438.63 482.68 532.54 589.65 655.94 10.2%
(NBFC)
Others 176.91 192.33 209.12 227.6 248.02 270.77 296.39 325.61 359.4 9.3%
Total 2,907.91 3,167.89 3,451.48 3,764.21 4,110.43 4,496.83 4,932.62 5,430.14 6,006.10 9.6%
The rest of Europe micro lending market was valued at $2,907.91 million in 2019, and is projected to reach
Micro Lending $6,006.10 million by 2027, registering a CAGR of 9.6%. The small enterprises segment was the highest revenue
Global Opportunity CAGR of 8.7%. The solo entrepreneurs & self-employed segment is estimated to reach $2,159.90 million by
Analysis and Industry 2027, at a significant CAGR of 10.9%. The small enterprises and solo entrepreneurs & self-employed segments
Forecast, 2020-2027
collectively accounted for around 72.9% share in 2019, with the former constituting around 40.2% share.
113
TABLE 32. REST OF EUROPE MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)
CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small Enterprises 1,168.21 1,263.19 1,365.96 1,478.48 1,602.19 1,739.37 1,893.20 2,067.93 2,269.32 8.7%
Micro Enterprises 787.89 855 927.91 1,008.04 1,096.44 1,194.79 1,305.39 1,431.36 1,576.87 9.1%

951.82 1,049.70 1,157.61 1,277.69 1,411.80 1,562.68 1,734.03 1,930.86 2,159.90 10.9%
self-employed
Total 2,907.91 3,167.89 3,451.48 3,764.21 4,110.43 4,496.83 4,932.62 5,430.14 6,006.10 9.6%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
114
6.4. Asia-Pacific
The Asia-Pacific micro lending market is analyzed across China, India, Japan, South Korea, and rest of Asia-
Pacific. The small and medium size business countries have adopted micro lending platform, owing to
increase in microlending limit of borrowers, and growing government support to initiate new business in this
region. In addition, demand for increased high quality product, and surge in computation in small-medium
sized enterprises, are the major factors that influence on the growth of the micro lending market during the
forecast period

Asia-Pacific is considered as an emerging market and is expected to occupy the major market share in the
upcoming years. China, India, and Japan are some of the major countries that drive the growth of the micro
Micro Lending lending market in the region. There has been a significant growth in micro lending market in China and Japan
Market over the past few years owing to new government policies regarding microlending platform in various
countries of Europe and growing small-medium sized business across the region. In addition, smaller and
Global Opportunity
Analysis and Industry medium-sized commercial banks, and non-bank financial institutions have been introducing new micro
Forecast, 2020-2027 lending services to provide economic support for various types of small business.
115
This provides lucrative opportunity to boost the growth of the micro lending market in this region. In addition,
the micro lending market is highly fragmented in the Asia-Pacific region, owing to large number of market
players indulged in various development such as partnership, acquisition, and product launch. For instance, in
October 2020, FOODICS, one of leading food and beverages (F&B) retail and restaurant management
platform in Saudi Arabia has launched micro lending platform named as Foodics Capital. It offers loans from
$5,000 (SAR 18,750), up to $133,000 (SAR 500,000) to support Saudi Arabia F&B merchants post COVID-19.
More number of such product launches are expected to boost the growth of the micro lending market growth
during the forecast period.

The Asia-Pacific micro lending market was valued at $67,377.53 million in 2019, and is projected to reach
registering a CAGR of 11.6%. The micro finance institute (MFI) segment is estimated to reach $74,838.10
million by 2027 at a CAGR of 14.4%.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
116
TABLE 33. ASIA-PACIFIC MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)
CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 30,573.25 33,887.77 37,572.10 41,705.73 46,360.50 51,640.18 57,685.01 64,682.34 72,886.12 11.6%
Micro
Finance
25,661.88 29,169.45 33,165.23 37,752.25 43,035.40 49,158.69 56,314.25 64,758.23 74,838.10 14.4%
Institute
(MFI)
Non-banking
financial
7,291.27 8,231.26 9,296.09 10,512.21 11,905.93 13,513.73 15,384.40 17,582.99 20,197.76 13.7%
institutions
(NBFC)
Others 3,851.13 4,313.06 4,832.45 5,421.54 6,092.11 6,860.73 7,749.60 8,788.38 10,017.28 12.8%
Total 67,377.53 75,601.53 84,865.87 95,391.73 1,07,393.94 1,21,173.33 1,37,133.26 1,55,811.94 1,77,939.27 13.0%

2027, registering a CAGR of 12.1%. The solo entrepreneurs & self-employed segment is estimated to reach
Micro Lending
$63,537.73 million by 2027 at a CAGR of 14.3%.
Market
Global Opportunity
Forecast, 2020-2027
117
TABLE 34. ASIA-PACIFIC MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)
CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small
26,596.73 29,615.79 32,989.80 36,794.70 41,101.33 46,010.59 51,658.42 58,226.26 65,960.16 12.1%
Enterprises
Micro
18,900.17 21,128.89 23,630.26 26,462.43 29,680.83 33,363.74 37,616.26 42,578.72 48,441.37 12.6%
Enterprises
Solo
entrepreneurs
21,880.62 24,856.85 28,245.80 32,134.60 36,611.77 41,798.99 47,858.57 55,006.96 63,537.73 14.3%
& self-
employed
Total 67,377.53 75,601.53 84,865.86 95,391.73 1,07,393.94 1,21,173.32 1,37,133.25 1,55,811.93 1,77,939.26 13.0%

$177,939.27 million by 2027, registering a CAGR of 13.0%. China was the highest revenue contributor with
$24,249.17 million in 2019, and is estimated to reach $55,143.38 million by 2027, registering a CAGR of 10.9%
. India is estimated to reach $61,495.81 million by 2027, at a significant CAGR of 14.9%. China and India
collectively accounted for around 66.2% share in 2019, with the former constituting around 36.0% share. India
Micro Lending and South Korea are expected to witness considerable CAGRs of 14.9% and 13.3%, respectively, during the
forecast period. The cumulative share of these two countries was 36.7% in 2019, and is anticipated to reach
Market
41.2% by 2027.
Global Opportunity
Forecast, 2020-2027
118
TABLE 35. ASIA PACIFICMICRO LENDING MARKET, BY COUNTRY, 2019-2027($MILLION)
CAGR%
COUNTRY 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
China 24,249.17 26,736.48 29,482.40 32,542.89 35,966.23 39,823.61 44,211.76 49,259.94 55,143.38 10.9%
Japan 3,948.32 4,386.78 4,875.54 5,425.40 6,046.28 6,752.38 7,562.90 8,503.44 9,608.72 11.9%
India 20,381.70 23,276.77 26,586.35 30,397.77 34,801.01 39,919.04 45,915.64 53,009.17 61,495.81 14.9%
South
4,345.85 4,890.47 5,505.67 6,206.42 7,007.45 7,929.28 8,999.37 10,254.37 11,743.99 13.3%
Korea
Rest of
Asia- 14,452.48 16,311.03 18,415.89 20,819.25 23,572.97 26,749.01 30,443.58 34,785.01 39,947.37 13.7%
Pacific
Total 67,377.53 75,601.53 84,865.87 95,391.73 1,07,393.94 1,21,173.33 1,37,133.26 1,55,811.94 1,77,939.27 13.0%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
119
6.4.4.1. China
FIGURE 28. CHINA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 10.9%
55,143.38
49,259.94
44,211.76
39,823.61
35,966.23
32,542.89
26,736.48 29,482.40
24,249.17
2019 2020 2021 2022 2023 2024 2025 2026 2027

The China micro lending market was valued at $24,249.17 million in 2019, and is projected to reach
Forecast, 2020-2027
120
TABLE 36. CHINA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 11,069.75 12,058.15 13,134.41 14,318.87 15,627.33 17,084.33 18,723.68 20,590.66 22,746.64 9.5%
Micro
Finance
9,323.81 10,413.86 11,630.81 13,000.88 14,548.34 16,307.77 18,325.78 20,664.55 23,408.36 12.3%
Institute
(MFI)
Non-banking
financial
2,534.04 2,810.67 3,117.76 3,461.75 3,848.39 4,286.02 4,785.92 5,363.18 6,038.20 11.5%
institutions
(NBFC)
Others 1,321.58 1,453.80 1,599.42 1,761.38 1,942.18 2,145.50 2,376.38 2,641.56 2,950.17 10.6%
Total 24,249.17 26,736.48 29,482.40 32,542.89 35,966.23 39,823.61 44,211.76 49,259.94 55,143.38 10.9%
Micro Lending The China micro lending market was valued at $24,249.17 million in 2019, and is projected to reach
Market $55,143.38 million by 2027, registering a CAGR of 10.9%. The small enterprises segment was the highest
revenue contributor with $9,617.22 million in 2019, and is estimated to reach $20,551.94 million by 2027,
Global Opportunity
Analysis and Industry registering a CAGR of 10.0%. The solo entrepreneurs & self-employed segment is estimated to reach
Forecast, 2020-2027 $19,675.16 million by 2027, at a significant CAGR of 12.2%.
121
TABLE 37. CHINA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small
9,617.22 10,523.81 11,516.56 12,614.84 13,834.41 15,199.18 16,741.89 18,506.35 20,551.94 10.0%
Enterprises
Micro
6,763.09 7,428.73 8,160.73 8,973.70 9,879.92 10,897.73 12,052.13 13,376.54 14,916.28 10.5%
Enterprises
Solo
entrepreneurs & 7,868.86 8,783.94 9,805.11 10,954.34 12,251.90 13,726.70 15,417.75 17,377.06 19,675.16 12.2%
self-employed
Total 24,249.17 26,736.48 29,482.40 32,542.89 35,966.23 39,823.61 44,211.76 49,259.94 55,143.38 10.9%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
122
6.4.4.2. Japan
FIGURE 29. JAPAN MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 11.9%
9,608.72
8,503.44
7,562.90
6,752.38
5,425.40 6,046.28
4,386.78 4,875.54
3,948.32
2019 2020 2021 2022 2023 2024 2025 2026 2027

The Japan micro lending market was valued at $3,948.32 million in 2019, and is projected to reach $9,608.72
Micro Lending $1,767.98 million in 2019, and is estimated to reach $3,879.81 million by 2027, registering a CAGR of 10.4%.
Market The micro finance institute (MFI) segment is estimated to reach $3,997.64 million by 2027, at a significant
Global Opportunity CAGR of 13.3%. The banks and micro finance institute (MFI) segments collectively accounted for around 82.4%
Analysis and Industry share in 2019, with the former constituting around 44.8% share.
Forecast, 2020-2027
123
TABLE 38. JAPAN MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 1,767.98 1,940.18 2,129.54 2,339.87 2,574.38 2,837.89 3,136.94 3,480.28 3,879.81 10.4%

1,484.74 1,671.55 1,882.17 2,121.57 2,394.59 2,708.00 3,070.86 3,495.28 3,997.64 13.3%
(MFI)
440.76 492.45 550.37 615.83 690.08 774.89 872.63 986.47 1,120.70 12.5%
institutions (NBFC)
Others 254.84 282.59 313.47 348.14 387.23 431.61 482.47 541.41 610.58 11.6%
Total 3,948.32 4,386.78 4,875.54 5,425.41 6,046.28 6,752.38 7,562.90 8,503.44 9,608.72 11.9%
The Japan micro lending market was valued at $3,948.32 million in 2019, and is projected to reach $9,608.72
Micro Lending contributor with $1,558.88 million in 2019, and is estimated to reach $3,564.08 million by 2027, registering a
Global Opportunity
Forecast, 2020-2027
124
TABLE 39. JAPAN MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027

1,277.05 1,436.58 1,616.32 1,820.51 2,053.26 2,320.31 2,629.36 2,990.69 3,418.22 13.2%
self-employed
Total 3,948.32 4,386.78 4,875.54 5,425.40 6,046.28 6,752.38 7,562.90 8,503.44 9,608.72 11.9%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
125
6.4.4.3. India
FIGURE 30. INDIA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 14.9%
61,495.81
53,009.17
45,915.64
39,919.04
34,801.01
30,397.77
23,276.77 26,586.35
20,381.70
2019 2020 2021 2022 2023 2024 2025 2026 2027

The India micro lending market was valued at $20,381.70 million in 2019, and is projected to reach $61,495.81
Market $9,241.49 million in 2019, and is estimated to reach $25,177.68 million by 2027, registering a CAGR of 13.4%.
Global Opportunity The micro finance institute (MFI) segment is estimated to reach $25,702.01 million by 2027, at a significant
Analysis and Industry CAGR of 16.3%. The banks and micro finance institute (MFI) segments collectively accounted for around 83.1%
Forecast, 2020-2027
share in 2019, with the former constituting around 45.3% share.
126
TABLE 40. INDIA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 9,241.49 10,426.15 11,762.36 13,281.42 15,013.88 17,002.36 19,303.90 21,994.62 25,177.68 13.4%
Micro
Finance
7,703.21 8,913.78 10,314.11 11,944.72 13,848.97 16,085.27 18,731.17 21,890.00 25,702.01 16.3%
Institute
(MFI)
Non-banking
financial
2,261.13 2,596.86 2,982.70 3,429.30 3,947.80 4,553.34 5,266.03 6,112.72 7,129.78 15.5%
institutions
(NBFC)
Others 1,175.87 1,339.98 1,527.18 1,742.32 1,990.35 2,278.07 2,614.54 3,011.84 3,486.34 14.6%
Total 20,381.70 23,276.77 26,586.35 30,397.77 34,801.01 39,919.04 45,915.64 53,009.17 61,495.81 14.9%
Micro Lending The India micro lending market was valued at $20,381.70 million in 2019, and is projected to reach $61,495.81
Market million by 2027, registering a CAGR of 14.9%. The small enterprises segment was the highest revenue
contributor with $8,022.63 million in 2019, and is estimated to reach $22,736.18 million by 2027, registering a
Global Opportunity
Analysis and Industry CAGR of 14.0%. The solo entrepreneurs & self-employed segment is estimated to reach $21,961.32 million by
Forecast, 2020-2027 2027, at a significant CAGR of 16.3%.
127
TABLE 41. INDIA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small
8,022.63 9,092.64 10,306.04 11,692.70 13,282.47 15,116.61 17,250.24 19,756.87 22,736.18 14.0%
Enterprises
Micro
5,738.71 6,529.41 7,429.87 8,463.10 9,652.47 11,030.11 12,638.83 14,535.74 16,798.31 14.5%
Enterprises
Solo
entrepreneurs & 6,620.36 7,654.71 8,850.44 10,241.96 11,866.06 13,772.32 16,026.57 18,716.55 21,961.32 16.3%
self-employed
Total 20,381.70 23,276.76 26,586.35 30,397.76 34,801.00 39,919.03 45,915.64 53,009.16 61,495.81 14.9%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
128
6.4.4.4. South Korea
FIGURE 31. SOUTH KOREA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 13.3%
11,743.99
10,254.37
8,999.37
7,929.28
7,007.45
6,206.42
4,890.47 5,505.67
4,345.85
2019 2020 2021 2022 2023 2024 2025 2026 2027

The South Korea micro lending market was valued at $4,345.85 million in 2019, and is projected to reach
Forecast, 2020-2027
129
TABLE 42. SOUTH KOREA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 1,969.25 2,189.14 2,434.24 2,709.93 3,021.14 3,374.96 3,780.93 4,251.80 4,804.85 11.9%
Micro Finance
1,634.47 1,863.75 2,125.73 2,427.32 2,775.64 3,180.42 3,654.63 4,215.55 4,886.65 14.8%
Institute (MFI)
492.94 557.77 631.38 715.62 812.36 924.18 1,054.53 1,207.99 1,390.82 13.9%
institutions (NBFC)
Others 249.2 279.82 314.33 353.56 398.31 449.72 509.29 579.03 661.67 13.1%
Total 4,345.85 4,890.47 5,505.67 6,206.42 7,007.45 7,929.28 8,999.37 10,254.37 11,743.99 13.3%
The South Korea micro lending market was valued at $4,345.85 million in 2019, and is projected to reach
$11,743.99 million by 2027, registering a CAGR of 13.3%. The small enterprises segment was the highest
Micro Lending revenue contributor with $1,702.55 million in 2019, and is estimated to reach $4,320.21 million by 2027,
Market registering a CAGR of 12.4%. The solo entrepreneurs & self-employed segment is estimated to reach
$4,188.07 million by 2027, at a significant CAGR of 14.7%. The small enterprises and solo entrepreneurs &
Global Opportunity
Analysis and Industry self-employed segments collectively accounted for around 71.6% share in 2019, with the former constituting
Forecast, 2020-2027 around 39.2% share.
130
TABLE 43. SOUTH KOREA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)
CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027

1,409.42 1,605.79 1,830.02 2,088.00 2,385.78 2,731.65 3,136.63 3,615.45 4,188.07 14.7%
self-employed
Total 4,345.85 4,890.47 5,505.67 6,206.42 7,007.45 7,929.28 8,999.37 10,254.37 11,743.99 13.3%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
131
6.4.4.5. Rest of Asia-Pacific
FIGURE 32. REST OF ASIA-PACIFIC MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 13.7%
39,947.37
34,785.01
30,443.58
26,749.01
23,572.97
20,819.25
16,311.03 18,415.89
14,452.48
2019 2020 2021 2022 2023 2024 2025 2026 2027

The rest of Asia-Pacific micro lending market was valued at $14,452.48 million in 2019, and is projected to
Micro Lending reach $39,947.37 million by 2027, registering a CAGR of 13.7%. The banks segment was the highest revenue
Global Opportunity CAGR of 12.2%. The micro finance institute (MFI) segment is estimated to reach $16,843.43 million by 2027, at
Analysis and Industry a significant CAGR of 15.1%. The banks and micro finance institute (MFI) segments collectively accounted for
Forecast, 2020-2027
132
TABLE 44. REST OF ASIA-PACIFIC MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 6,524.79 7,274.15 8,111.55 9,055.64 10,123.76 11,340.64 12,739.57 14,364.99 16,277.15 12.2%
Micro
Finance
5,515.65 6,306.51 7,212.41 8,257.76 9,467.86 10,877.23 12,531.81 14,492.85 16,843.43 15.1%
Institute
(MFI)
Non-banking
financial
1,562.39 1,773.51 2,013.88 2,289.71 2,607.30 2,975.31 3,405.28 3,912.64 4,518.27 14.3%
institutions
(NBFC)
Others 849.65 956.87 1,078.05 1,216.14 1,374.05 1,555.83 1,766.92 2,014.54 2,308.52 13.4%
Total 14,452.48 16,311.03 18,415.89 20,819.25 23,572.97 26,749.01 30,443.58 34,785.01 39,947.37 13.7%
Micro Lending The rest of Asia-Pacific micro lending market was valued at $14,452.48 million in 2019, and is projected to
Market reach $39,947.37 million by 2027, registering a CAGR of 13.7%. The small enterprises segment was the highest
Global Opportunity
133
TABLE 45. REST OF ASIA-PACIFIC MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)
CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small
5,695.45 6,379.14 7,147.32 8,017.88 9,007.96 10,141.71 11,451.54 12,980.67 14,787.76 12.8%
Enterprises
Micro
4,052.10 4,556.06 5,124.66 5,771.59 6,510.24 7,359.29 8,343.79 9,497.14 10,864.64 13.2%
Enterprises
Solo
entrepreneurs & 4,704.94 5,375.83 6,143.91 7,029.78 8,054.77 9,248.01 10,648.26 12,307.21 14,294.97 15.0%
self-employed
Total 14,452.48 16,311.03 18,415.89 20,819.25 23,572.97 26,749.01 30,443.58 34,785.01 39,947.37 13.7%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
134
6.5. LAMEA
The market in LAMEA is analyzed across Latin America, the Middle East, and Africa. In addition, continuous
technological advancement in the banking sector and increase in adoption of machine learning and artificial
intelligence among the financial institutions drive the demand for micro lending market in this region. The
micro lending offers various advantages to small business, which includes approved loan within a short period
of time, convenience, and simplicity in loan processing services, minimum time taken for document
verification and paperless workflow that propel the growth of the market.

The solo entrepreneurs & self-employed segment is estimated to reach $51,742.12 million by 2027 at a CAGR
of 13.5%. The small enterprises and solo entrepreneurs & self-employed segments collectively accounted for
around 72.6% share in 2019, with the former constituting around 39.5% share. The solo entrepreneurs & self-
Growth in the capital market and banking sector in LAMEA countries such as UAE, Brazil, and Mexico and
Micro Lending increase in demand of microcredit programs by the customers drive the growth of the market in the region. In
Market addition, increasing number of commercially microfinance institutions across the region that helps small
businesses to get loan services more easily, propels the growth of the market. Moreover, offering digital loans
Global Opportunity
Analysis and Industry service to customers, and improving access to credit for small businesses are some of the major factors that
Forecast, 2020-2027 boost the micro lending market this in region.
135
Furthermore, growing financial need to micro entrepreneur, and improving the quality of the financial services
have led to the growth of micro lending market in the LAMEA region. Moreover, many key players in the
LAMEA nations are offering loan services for individuals and small businesses through mobile banking apps.
More number of such innovations are expected to boost the micro lending market growth during the forecast
period.

The LAMEA micro lending market was valued at $57,032.42 million in 2019, and is projected to reach
registering a CAGR of 10.9%. The micro finance institute (MFI) segment is estimated to reach $58,501.93
million by 2027 at a CAGR of 13.7%.
TABLE 46. LAMEA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 26,952.76 29,682.63 32,698.72 36,064.10 39,833.63 44,088.01 48,936.78 54,526.35 61,055.22 10.9%
Micro
Finance
21,138.31 23,871.09 26,964.24 30,493.54 34,534.19 39,190.54 44,602.14 50,955.12 58,501.93 13.7%
Institute
Micro Lending (MFI)

Non-banking
financial
Market institutions
(NBFC)
5,897.23 6,611.82 7,415.95 8,328.67 9,368.33 10,560.74 11,940.50 13,553.76 15,463.15 12.9%
Others 3,044.12 3,386.29 3,768.56 4,199.55 4,687.31 5,243.29 5,882.94 6,626.87 7,503.04 12.0%
Global Opportunity
Analysis and Industry Total 57,032.42 63,551.83 70,847.47 79,085.85 88,423.47 99,082.59 1,11,362.35 1,25,662.10 1,42,523.34 12.2%
136
TABLE 47. LAMEA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small
22,526.92 24,912.10 27,560.28 30,528.79 33,869.10 37,655.86 41,989.99 47,006.35 52,887.79 11.4%
Enterprises
Micro
15,638.20 17,359.69 19,278.84 21,438.37 23,877.59 26,652.86 29,840.21 33,541.18 37,893.43 11.8%
Enterprises
Solo
entrepreneurs
18,867.31 21,280.05 24,008.35 27,118.69 30,676.77 34,773.87 39,532.15 45,114.57 51,742.12 13.5%
& self-
employed
Total 57,032.42 63,551.83 70,847.47 79,085.85 88,423.47 99,082.59 1,11,362.35 1,25,662.10 1,42,523.34 12.2%

Micro Lending
Market $142,523.34 million by 2027, registering a CAGR of 12.2%. Latin America was the highest revenue contributor
Global Opportunity with $51,876.69 million in 2019, and is estimated to reach $125,905.12 million by 2027, registering a CAGR of
Forecast, 2020-2027 11.8% . Africa is estimated to reach $12,770.09 million by 2027, at a significant CAGR of 16.5%.
137
Latin America and Africa collectively accounted for around 97.6% share in 2019, with the former constituting
around 91.0% share. Africa and Middle East are expected to witness considerable CAGRs of 16.5% and 13.6%,
respectively, during the forecast period. The cumulative share of these two countries was 9.0% in 2019, and is
anticipated to reach 11.7% by 2027.
TABLE 48. LAMEA MICRO LENDING MARKET, BY COUNTRY, 2019-2027($MILLION)

CAGR%
COUNTRY 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Latin
51,876.69 57,598.62 63,978.81 71,159.47 79,271.64 88,503.05 99,106.93 1,11,421.44 1,25,905.12 11.8%
America
Middle
1,397.29 1,576.88 1,780.04 2,011.75 2,276.90 2,582.34 2,937.18 3,353.61 3,848.13 13.6%
East
Africa 3,758.44 4,376.34 5,088.62 5,914.63 6,874.92 7,997.20 9,318.24 10,887.05 12,770.09 16.5%
Total 57,032.42 63,551.83 70,847.47 79,085.85 88,423.47 99,082.59 1,11,362.35 1,25,662.10 1,42,523.34 12.2%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
138
6.5.4.1. Latin America
FIGURE 33. LATIN AMERICA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 11.8%
125,905.12
111,421.44
99,106.93
88,503.05
79,271.64
63,978.81 71,159.47
51,876.69 57,598.62
2019 2020 2021 2022 2023 2024 2025 2026 2027

The Latin America micro lending market was valued at $51,876.69 million in 2019, and is projected to reach
$125,905.12 million by 2027, registering a CAGR of 11.8%. The banks segment was the highest revenue
Micro Lending
contributor with $24,553.24 million in 2019, and is estimated to reach $54,051.07 million by 2027, registering a
Market
CAGR of 10.5%. The micro finance institute (MFI) segment is estimated to reach $51,772.18 million by 2027, at
Global Opportunity a significant CAGR of 13.3%. The banks and micro finance institute (MFI) segments collectively accounted for
Forecast, 2020-2027 around 84.5% share in 2019, with the former constituting around 47.3% share.
139
TABLE 49. LATIN AMERICA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 24,553.24 26,944.63 29,577.40 32,505.65 35,775.29 39,454.66 43,636.78 48,446.04 54,051.07 10.5%
Micro
Finance
19,256.63 21,668.60 24,388.72 27,481.79 31,011.07 35,064.91 39,761.70 45,259.39 51,772.18 13.3%
Institute
(MFI)
Non-banking
financial
5,343.30 5,968.66 6,669.79 7,462.85 8,363.16 9,392.39 10,579.66 11,963.88 13,597.75 12.5%
institutions
(NBFC)
Others 2,723.53 3,016.73 3,342.89 3,709.19 4,122.13 4,591.10 5,128.78 5,752.13 6,484.11 11.6%
Total 51,876.69 57,598.62 63,978.81 71,159.47 79,271.64 88,503.05 99,106.93 1,11,421.44 1,25,905.12 11.8%
Micro Lending The Latin America micro lending market was valued at $51,876.69 million in 2019, and is projected to reach
Market $125,905.12 million by 2027, registering a CAGR of 11.8%. The small enterprises segment was the highest
Global Opportunity
140
TABLE 50. LATIN AMERICA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)
CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small
20,491.29 22,579.38 24,889.36 27,470.23 30,365.00 33,636.69 37,370.74 41,681.37 46,723.39 10.9%
Enterprises
Micro
14,214.21 15,721.54 17,395.84 19,273.54 21,387.49 23,785.19 26,530.92 29,710.53 33,440.40 11.4%
Enterprises
Solo
entrepreneurs & 17,171.19 19,297.70 21,693.61 24,415.70 27,519.15 31,081.16 35,205.26 40,029.55 45,741.33 13.1%
self-employed
Total 51,876.69 57,598.62 63,978.81 71,159.47 79,271.64 88,503.05 99,106.93 1,11,421.44 1,25,905.12 11.8%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
141
6.5.4.2. Middle East
FIGURE 34. MIDDLE EAST MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 13.6%
3,848.13
3,353.61
2,937.18
2,582.34
2,276.90
1,780.04 2,011.75
1,397.29 1,576.88
2019 2020 2021 2022 2023 2024 2025 2026 2027

The Middle East micro lending market was valued at $1,397.29 million in 2019, and is projected to reach
Market contributor with $648.63 million in 2019, and is estimated to reach $1,617.00 million by 2027, registering a
Forecast, 2020-2027
142
TABLE 51. MIDDLE EAST MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 648.63 723.32 806.72 900.67 1,006.85 1,127.72 1,266.52 1,427.64 1,617.00 12.2%

510.14 583.59 667.67 764.64 876.81 1,007.34 1,160.45 1,341.74 1,558.83 15.1%
(MFI)
155.03 175.94 199.72 226.98 258.32 294.58 336.9 386.76 446.19 14.2%
institutions (NBFC)
Others 83.5 94.03 105.93 119.46 134.92 152.7 173.32 197.47 226.11 13.4%
Total 1,397.29 1,576.88 1,780.04 2,011.75 2,276.90 2,582.34 2,937.18 3,353.61 3,848.13 13.6%
The Middle East micro lending market was valued at $1,397.29 million in 2019, and is projected to reach
$3,848.13 million by 2027, registering a CAGR of 13.6%. The small enterprises segment was the highest
Micro Lending revenue contributor with $551.30 million in 2019, and is estimated to reach $1,426.30 million by 2027,
Market registering a CAGR of 12.7%. The solo entrepreneurs & self-employed segment is estimated to reach
$1,403.13 million by 2027, at a significant CAGR of 14.9%. The small enterprises and solo entrepreneurs &
Global Opportunity
Analysis and Industry self-employed segments collectively accounted for around 72.7% share in 2019, with the former constituting
Forecast, 2020-2027 around 39.5% share.
143
TABLE 52. MIDDLE EAST MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)
CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Small Enterprises 551.3 617.44 691.68 775.7 871.14 980.28 1,106.21 1,253.02 1,426.30 12.7%
Micro Enterprises 381.64 429.03 482.44 543.12 612.32 691.75 783.72 891.31 1,018.70 13.2%

464.36 530.41 605.93 692.93 793.45 910.31 1,047.26 1,209.28 1,403.13 14.9%
self-employed
Total 1,397.29 1,576.88 1,780.04 2,011.75 2,276.90 2,582.34 2,937.18 3,353.61 3,848.13 13.6%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
144
6.5.4.3. Africa
FIGURE 35. AFRICA MICRO LENDING MARKET REVENUE, 2019-2027 ($MILLION)
CAGR 16.5%
12,770.09
10,887.05
9,318.24
7,997.20
6,874.92
5,914.63
5,088.62
3,758.44 4,376.34
2019 2020 2021 2022 2023 2024 2025 2026 2027

The Africa micro lending market was valued at $3,758.44 million in 2019, and is projected to reach $12,770.09
Market $1,750.90 million in 2019, and is estimated to reach $5,387.16 million by 2027, registering a CAGR of 15.1%.
Global Opportunity The micro finance institute (MFI) segment is estimated to reach $5,170.91 million by 2027, at a significant
Analysis and Industry CAGR of 18.0%. The banks and micro finance institute (MFI) segments collectively accounted for around 83.1%
Forecast, 2020-2027
share in 2019, with the former constituting around 46.6% share.
145
TABLE 53. AFRICA MICRO LENDING MARKET, BY PROVIDER, 2019-2027($MILLION)

CAGR%
PROVIDER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027
Banks 1,750.90 2,014.68 2,314.60 2,657.79 3,051.49 3,505.64 4,033.47 4,652.66 5,387.16 15.1%
Micro Finance
1,371.54 1,618.91 1,907.84 2,247.11 2,646.32 3,118.30 3,679.99 4,353.99 5,170.91 18.0%
Institute (MFI)
398.9 467.22 546.44 638.84 746.86 873.77 1,023.94 1,203.13 1,419.20 17.2%
institutions (NBFC)
Others 237.1 275.53 319.74 370.9 430.26 499.5 580.84 677.27 792.82 16.3%
Total 3,758.44 4,376.34 5,088.62 5,914.63 6,874.92 7,997.20 9,318.24 10,887.05 12,770.09 16.5%
The Africa micro lending market was valued at $3,758.44 million in 2019, and is projected to reach $12,770.09
Micro Lending contributor with $1,484.32 million in 2019, and is estimated to reach $4,738.10 million by 2027, registering a
Global Opportunity
Forecast, 2020-2027
146
TABLE 54. AFRICA MICRO LENDING MARKET, BY END USER, 2019-2027($MILLION)

CAGR%
END USER 2019 2020 2021 2022 2023 2024 2025 2026 2027
2020-2027

1,231.77 1,451.94 1,708.80 2,010.06 2,364.17 2,782.40 3,279.64 3,875.75 4,597.66 17.9%
self-employed
Total 3,758.44 4,376.34 5,088.62 5,914.63 6,874.92 7,997.20 9,318.24 10,887.05 12,770.09 16.5%
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
147
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Key players positioning analysis, 2019
Leading market players with diverse product offerings seek growth opportunities in the global micro lending
market to consolidate their position. The following figure depicts the competitive strength and rankings of
leading companies namely, Accion International, BlueVine Inc., Fundera Inc. , Funding Circle, Kabbage Inc.,
Kiva., Lendio., Lendr, OnDeck and StreetShares, Inc. These players have adopted various strategies to increase
their market penetration and strengthen their position in the industry. The parameters considered for the
representation are geographical outreach, key strategies adopted, and their focus on the global micro lending
market offering for the industrial sectors.
The leading market players such as Accion International, Funding Circle, and Lendio. hold majority of the
market share. However, other players in the market are also coming up with new strategies and partnering,
collaborating, and expanding their business, which is further anticipated to boost the market growth in the
near future.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
148
FIGURE 36. KEY PLAYER POSITIONING ANLYSIS: GLOBAL MICRO LENDING MARKET
5.0 Accion International
4.5 Fundera Inc

High Lendio. Lendr Kabbage Inc.
BlueVine Inc.
4.0
Competitive Strength
Kiva
Funding Circle
3.5
OnDeck
3.0 Medium
StreetShares, Inc
2.5
2.0
Low
1.5
1.0
0 2 4 6 8 10 12
Market Positioning
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
149
7.2. Competitive dashboard
FIGURE 37. COMPETITIVE DASHBOARD
Kabbage Inc.
Accion
BlueVine Inc. Fundera Inc Funding Circle (American Express
International
Company )
Founded 1961 2013 2013 2003 2009
Headquarters United States United States United States United Kingdom United States
US$28,226.9 US$47,020.0
Revenue (2019) NA NA US$188.1million
million million
Strategies
Partnership NA Partnership Partnership Product Launch
Adopted
• Women-Owned
Business Loans • SBA loans
• Veteran-Owned • Term Loan • Term loans
Business Loans
• SBA Loan • Business line of
• Startup credit
• Business Line
Business Loans
of Credit • Invoice finance • Small business
Product Portfolio • Native loans Microloan
• Equipment • Startup
American
Financing business loans • CBILS loan
Business Loans
• Invoice • Equipment
Micro Lending • Minority –
Owned
Factoring financing
Market Business Loans • Microloan • Short-Term
• Green Business business loan
Global Opportunity Loans
Source: Primary & Secondary Research and AMR Analysis
Forecast, 2020-2027
150
FIGURE 38. COMPETITIVE DASHBOARD
StreetShares,
Kiva Lendio. Lendr OnDeck
Inc
Founded 2005 2011 2011 2008 2013
Headquarters United State United States United States United States United States
Revenue (2019) US$2.9 Million NA NA US$444.5 Million NA
Strategies  Partnership
Partnership Product Launch Product Launch Product Launch
Adopted  Product Launch
• Credit Card Loan
• Business Line of
Credit
• SBA Loan • Small Business
Funding • StreetShares -
• Short Term Loan • Small business
Kiva microlending • Small Business Online term loan
Product Portfolio lending
platform • Business Term Loan Financing • StreetShares
• Micro Loans
• Equipment • Start-up Business line of credit
Financing Funding
• Startup loan
• Business
Acquisition Loan
Source: Primary & Secondary Research and AMR Analysis

Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
151
FIGURE 39. COMPETITIVE HEATMAP OF KEY PLAYERS
Product Research & Product

Factors Product Offering Regional Presence
Development Differentiation
Accion International
BlueVine Inc.
Fundera Inc
Funding Circle
Kabbage Inc.
Kiva
Lendio.
Lendr
OnDeck
StreetShares, Inc
Scale Low Medium High
Micro Lending Source: Primary & Secondary Research and AMR Analysis
Market
Global Opportunity
Forecast, 2020-2027
152
7.3. Top winning strategies
Top winning strategies are analyzed by performing a thorough study of the leading players in the micro
lending market. Comprehensive analysis of recent developments and growth curves of various companies
have helped understand the growth strategies adopted by them and their potential effect on the market. The
companies have been evaluated on the basis of annual reports, SEC filings, and press releases. The key
strategies traced from the analysis of recent developments of the key players in the micro lending market are
as follows:
 Product Launch: This strategy is adopted to introduce new and unique products in the market.
 Partnership: This strategy is adopted when two or more companies agree to cooperate to advance their
mutual interests.
 Collaboration: This strategy is adopted when two or more companies agreeing to cooperate with each
other for a specific purpose or achieving a common goal.
 Product Development: This strategy is adopted to update existing product by adding new features and
relaunching the product.
 Agreement: This strategy is adopted to enhance the capabilities of the market players and improve
market outreach.
Micro Lending  Expansion: This strategy is adopted to enhance product portfolios, effective operations, expand
geographical reach, and increase customer base.
Market
Global Opportunity
Forecast, 2020-2027
153
FIGURE 40. TOP WINNING STRATEGIES, BY YEAR, 2018-2020
6.0
5 5
5.0
No. of Developments
4.0
3.0
2.0
1
1.0
0.0
2018 2019 2020
Source: Company Website, Annual Report, Secondary Research, and AMR Analysis
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
154
FIGURE 41. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018-2020
Partnership
36.4%
63.6%
Product Launch
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
155
FIGURE 42. TOP WINNING STRATEGIES, BY COMPANY, 2018-2020
6.0
No. of Developments
5.0
4.0
3.0
2.0
1
1.0 2 2
1 1 1 1 1 1
0.0
Accion Fundera, Inc Funding Circle Kabbage Inc. Kiva Lendio. OnDeck StreetShares, Inc
International
Partnership Product launch
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
156
CHAPTER 8: COMPANY PROFILES
8.1. ACCION INTERNATIONAL
10 Fawcett Street,
Suite 204,
Cambridge, MA 02138
Tel.: +1 617.625.7080
Website: www.accion.org
8.1.1. Company overview

Accion International is one of the leading microfinance and fintech impact investing companies. It is one of
the largest microfinance product employers in the world, with more than 2.6 million clients are actively using
microfinance service in 55 countries. It operates as financial technology and institutional services company
globally. It helps financial service providers to deliver affordable high-quality solutions at scale for the 3 billion
people. It supports inclusive, scalable and well-managed businesses around the world in the expression of
widespread insecurity and different business situations.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
157
8.1.2. Key Executives
TABLE 55. ACCION INTERNATIONAL: KEY EXECUTIVES
Designation Name
Chairman Diana L. Taylor
Chief Executive Officer Michael Schlein
Treasurer Ron Hoge
Bob Annibale
Directors Thomas C. Barry
Tara Kenney,
Source: Corporate Publications and AMR Analysis
8.1.3. Company snapshot

TABLE 56. ACCION INTERNATIONAL: COMPANY SNAPSHOT
Information Description
Year of Foundation 1961
Primary Business Financial Services
Geographical Presence Americas, Europe/Middle East/Africa, Asia Pacific

Micro Lending
Key Strategic Moves Partnership
Market
2019: 28,226.9
Global Opportunity Overall Financial Status ($Million) 2018: 13,921.8
Analysis and Industry 2017: 18,329.7
Forecast, 2020-2027
158
Workforce 500 (As of December 31, 2019)
8.1.4. Product portfolio

Accion International offers the following products:
TABLE 57. ACCION INTERNATIONAL: PRODUCT PORTFOLIO
Product Category Brand/Product
 Women-Owned Business Loans

 Veteran-Owned Business Loans
 Startup Business Loans
Micro lending
 Native American Business Loans
 Minority –Owned Business Loans
 Green Business Loans
Source: Corporate Publications and AMR Analysis.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
159
8.1.5. Business performance
Accion International registered increase in net sales of 102.8% from 2018 to 2019, owing to surge in interest
rate of business loan.
FIGURE 43. ACCION INTERNATIONAL : NET SALES, 2017 2019 ($MILLION),
Net Sales ($Million)
28,226.9
18,329.7
13,921.8
2017 2018 2019
Micro Lending Source: Corporate Publications and AMR Analysis
Market
Global Opportunity
Forecast, 2020-2027
160
8.1.6. Key strategic moves and developments
Accion International adopted partnership as to its key developmental strategy to sustain the intense
competition and improve the global micro lending market.
Date Strategy Description
Opportunity Fund Network announced partnership with Accion International to develop

March 2020 Partnership national microlending strategy. It allows small businesses to meet their credit needs, leverage
digital technology, and promote research and financial education.
Mastercard partnered with Accion International to financially support millions of micro and
November 2018 Partnership small businesses around the world. This partnership help microbusinesses to reach their
financial goal, and create greater financial security for families and individuals.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
161
8.2. BLUEVINE INC.
401 Warren St.
Suite 300
Redwood City,
California 94063, U.S
Tel: (888) 216-9619
Website: www.bluevine.com

BlueVine Inc. is a California-based fintech company that offers financial services and lending services to small
and medium sized enterprises across the region. It delivers banking services to more than 200,000 small
business owners across the region. In addition, it offers wide range of tailored banking services, including a
line of credit, invoice factoring, and business checking account. It is a private company; hence its financials
details are not available on the public domain.

TABLE 58. BLUEVINE INC..: KEY EXECUTIVES
Micro Lending
Designation Name
Market Chief Executive Officer Eyal Lifshitz
Global Opportunity Chief Technology Officer Nir Klar

Chief People Officer Gianna Driver
Forecast, 2020-2027
162
Designation Name
Chief Risk Officer Ido Lustig
Chief Product Officer Herman Man
Chief Marketing Officer Patrick Adams

TABLE 59. BLUEVINE INC.: COMPANY SNAPSHOT
Primary Business Financial Service
Geographical Presence U.S.

BlueVine Inc. offers the following products:
Micro Lending TABLE 60. BLUEVINE INC.: PRODUCT PORTFOLIO
Market Product Category Brand/Product
 Term Loan  Equipment Financing

Global Opportunity
Micro lending  SBA Loan  Invoice Factoring
 Business Line of Credit  Microloan
Forecast, 2020-2027
163
8.3. FUNDERA INC.
123 William Street,
21st Floor,
New York NY 10038
Tel.: +91 80 2852 0261
Website: www.fundera.com

Fundera Inc. is the world’s largest small business loan marketplace, which provides personal loans, business
loans, and financing services for end users. It provides tips and evaluation technology to help business owners
easily recognize their best-fit financial products and, ultimately, build better corporate outcomes. Its
marketplace offers various banking products to consumers and small businesses, including online banking
account, business checking account, business saving accounts, balance transfer card, cashback credit cards,
and travel cards. Fundera Inc. offers its innovative digital services to banking, ecommerce, and insurance,
sectors. In November 2020, Fundera Inc. is acquired by NerdWallet to provide financial guidance and
financing options for small& medium sized business owners.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
164
TABLE 61. FUNDERA INC: KEY EXECUTIVES
Designation Name
Co-founder and Chief Executive Officer Jared Hecht
Chief Technology Officer Jason Rodriguez
Director Michelle Nallin

TABLE 62. FUNDERA INC: COMPANY SNAPSHOT
Primary Business Lending Services
Workforce 200 (As of 31 March 2020)

Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
165
Fundera Inc. offers the following products:
TABLE 63. FUNDERA INC: CORPORATION: PRODUCT PORTFOLIO
 SBA loans
 Term loans
 Business line of credit
Micro lending  Invoice finance
 Startup business loans
 Equipment financing
 Short-Term business loan

Fundera Inc. adopted partnership as to its key developmental strategy to sustain the intense competition and
improve the global micro lending market.

Micro Lending Ware2Go partnered with Fundera Inc. to allow joint merchant consumers to access financing
Market January 2019 Partnership
and logistics options in the same place. This partnership provides various lending service for
small medium size business merchant that includes inventory financing, business credit card
and bank loans.
Global Opportunity
Analysis and Industry Source: Corporate Publications and AMR Analysis
Forecast, 2020-2027
166
8.4. FUNDING CIRCLE
71 Queen Victoria Street
London,
EC4V 4AY
UK.
Tel.: 442074 019
Website: www.fundingcircle.com

Funding Circle operates an online marketplace for small business loan lenders and seekers. Its marketplace
includes various types of investors and borrowers, which include individuals, business banks, local councils,
financial organizations, the UK Government. and the University of Huddersfield. It offers various financial
services directly to small- and medium-sized businesses across the globe. In addition, funding circle offers
unsecured and secured loans to promote businesses, procure working capital, cover one-off business costs,
buy assets, develop properties, and obtain commercial mortgage.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
167
TABLE 64. FUNDING CIRCLE: KEY EXECUTIVES
Designation Name
Cofounder and Chief Executive Officer Samir Desai CBE
Chief Financial Officer Sean Glithero
Chief Technology Officer Swati Lay
Chief Capital Officer Sachin Patel
Chief Risk Officer Jerome Le Luel

TABLE 65. FUNDING CIRCLE: COMPANY SNAPSHOT
Primary Business Financial services
Micro Lending Geographical Presence Germany, Netherland, UK, U.S.
Market Key Strategic Moves Partnership
2019:188.1
Global Opportunity Overall Financial Status ($Million) 2018 162.5
2017:113.3
Forecast, 2020-2027
168
Workforce 1,055 (As of December 2019)

Funding Circle offers the following products:
TABLE 66. FUNDING CIRCLE: PRODUCT PORTFOLIO

 Small business loans

Micro lending
 CBILS loan
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
169
Funding Circle. registered increase in net sales of 15.7% from 2018 to 2019, due to increased transaction fee
and servicing fee income from 2018 to 2019.
FIGURE 44. FUNDING CIRCLE: NET SALES, 2017 2019 ($MILLION),
R & D Expenditure ($Million)
188.1
162.5
113.3
2017 2018 2019
Market
Global Opportunity
Forecast, 2020-2027
170
FIGURE 45. FUNDING CIRCLE: REVENUE SHARE BY REGION(2019)
8% UK
27%
U.S.
65%
Developing Markets

Funding Circle adopted partnership as to its key developmental strategy to sustain the intense competition
and improve the global micro lending market.
Funding Circle announced a partnership with LendingClub Corporation to provide affordable,

April 2019 Partnership
responsible and transparent loan service for small business owner.
Micro Lending
Funding Circle partnered with Stripe to provide lending services using Stripe's payment
Market January 2019 Partnership processing platform. With this partnership, Funding Circle allows Stripe consumers to import
their data directly and securely to apply for a business loan up to $500,000.
Global Opportunity Source: Corporate Publications and AMR Analysis
Forecast, 2020-2027
171
8.5. KABBAGE INC.
925B Peachtree Street NE
Suite 1688
Atlanta, GA 30309
U.S.
Tel.: +1-888-986-8263
Website: www.kabbage.com

Kabbage Inc. is the first financial services data and technology company that offers fully automated funds to
small businesses, micro businesses and individuals. It provides online lending platform that allows small
businesses to quickly obtain ongoing lines of credit up to $250,000. It is one of the leading online providers of
working capital to small businesses in the U.S. and the UK. In August 2020, Kabbage Inc. is acquired by
American Express to provide cash flow management solutions to small businesses in the U.S.

TABLE 67. KABBAGE INC.: KEY EXECUTIVES
Micro Lending
Designation Name
Market
Chief Executive Officer Rob Frohwein
Global Opportunity
Chairman Marc Gorlin
Forecast, 2020-2027 Chief Operating Officer Kathryn Petralia
172
Designation Name
Chief Financial Officer Oneal Bhambani

TABLE 68. KABBAGE INC.: COMPANY SNAPSHOT
Geographical Presence Atlanta, Georgia, U.S.
Key Strategic Moves Product launch
2019: 47,020.0
American Express Company Overall
2018: 43,281.0
Financial Status ($Million)
2017: 38,990.0
Workforce 500 ( As of December 2019)

Micro Lending Kabbage Inc. offers the following products:
Market TABLE 69. KABBAGE INC.: PRODUCT PORTFOLIO
Global Opportunity Product Category Brand/Product
Micro lending Microloans
Forecast, 2020-2027
173
Kabbage, Inc. witnessed increase in net sales of 8.6% from 2018 to 2019, owing to increase in consumer and
business cards volume, loan balances, and fee revenue.
FIGURE 46. KABBAGE INC: NET SALES, 2017 2029 ($MILLION),
47,020.0
43,281.0
38,990.0
2017 2018 2019
Market
Global Opportunity
Forecast, 2020-2027
174
Kabbage Inc. adopted product launch as to its key collaboration strategy to sustain the intense competition
and improve the global micro lending market.
Kabbage Inc. launched new loan product that offers modified cash flow solutions to small and
February 2020 Product launch medium-sized business owners. This allows small-medium sized customers to choose a refund
expression for three and 45 days.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
175
8.6. KIVA.
986 Missions Street
4th Floor
San Francisco, CA 94103, U.S.
Website: www.kiva.org

Kiva is one of the leading U.S. multinational corporations that offers micro loan services to the financial
excluded sector such as education, clean energy, water, and refugee migration. It offers loan services to
farmers through evidence-based innovation such as enhanced value chain linkages and flexible repayment
option. With Kiva lending platform, women are starting businesses, students are paying for tuition, families are
finishing emergency requirements, and farmers are investing in new equipment. It is offering lending service
to more than 3 million borrowers in 84 countries across the globe.

TABLE 70. KIVA.: KEY EXECUTIVES
Micro Lending Designation Name
Market Chief Executive Officer Neville Crawley
Co-Founder and Executive Chairman Reid Hoffman

Global Opportunity
Analysis and Industry Chief Strategy Officer Matthew Davie
Forecast, 2020-2027
176
Designation Name
Jason Eyler
Vice President
Ken Leung

TABLE 71. KIVA.: COMPANY SNAPSHOT
Primary Business Lending Service
Geographical Presence North America, Europe, Middle East and Africa

2019: 2.9
Overall Financial Status ($Million) 2018: 2.3
2017: 1.7

Kiva. offers the following products:
Micro Lending
Market TABLE 72. KIVA.: PRODUCT PORTFOLIO
Global Opportunity
Analysis and Industry Micro Lending Kiva microlending platform
Forecast, 2020-2027
177
Kiva reported net sales of $2.9 million in the financial year 2019 with 26.1% of the growth rate. The growth
was attributed to improve the user experience for consumers by introducing new features such as direct credit
card handling.
FIGURE 47. KIVA.: NET SALES, 2017 2019 ($MILLION)
2.9
2.3
1.7
2017 2018 2019
Market
Global Opportunity
Forecast, 2020-2027
178
Kiva. adopted partnership as to its key developmental strategy to sustain the intense competition and
Kiva announced partnership with PayPal Holdings, Inc. to offers micro lending services through
June 2020 Partnership Paypal platform. This partnership helps Kiva‘s for increasing number of small-medium sized
business clients and to provide them with immediate loan services.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
179
8.7. LENDIO.
4100 Chapel Ridge Road,
Suite 500, Lehi,
UT 84043
Tel.: +1-905-624-9828
Website: www.lendio.com

Lendio. is the leading financial service corporation, it offers lending service to small business owner for hiring
staff, buying new equipment, and expanding business to another location. It provides financial services, and
engaged in offering lending, borrowing, savings, and other financial services to consumers. In addition, It has
delivering more than $10billion loan for more than 1,0000 small business across the region. It is a private firm,
and therefore, its financial details are not available on the public domain.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
180
TABLE 73. LENDIO.: KEY EXECUTIVES
Designation Name
Chief Executive Officer & Founder Brock Blake
Founder Trent Miskin
Co-Founder Brett Child
Chief Operating Officer Chad Iverson

TABLE 74. LENDIO.: COMPANY SNAPSHOT
Primary Business Lending Services
Key Strategic Moves Partnership, Product launch
Geographical Presence North America
Micro Lending Workforce 360 (As of December 2019)

Market
Global Opportunity
Forecast, 2020-2027
181
Lendio. offers the following products:
TABLE 75. LENDIO.: PRODUCT PORTFOLIO
 Credit Card Loan  Business Term Loan

 Business Line of Credit  Equipment Financing
Micro Lending
 SBA Loan  Startup loan
 Short Term Loan  Business Acquisition Loan

Lendio. adopted product launch and partnership as to its key developmental strategies to sustain the intense
TouchBistro partnered with Lendio. to enable paycheck protection program for various types of
loan applications for restaurants. Paycheck protection program helps small restaurants to
April 2020 Partnership
take loan for paying for various different purposes which include utilities, mortgage interest
and rent.
Micro Lending
Lendio. launched paycheck protection program loan application for small business. It allows
Market April 2020 Product launch more than 100 financial institutions across the U.S to facilitate COVID-19 break funds for their
small business consumers.
Global Opportunity Source: Corporate Publications and AMR Analysis
Forecast, 2020-2027
182
8.8. LENDR
515 N State St,
Suite 950 Chicago,
IL 60654
Tel.: (312) 681-7756
Website: https://lendr.online/

Lendr offers convenient and fast working investment and factoring funding solutions for the business. Lendr,
along with its subsidiaries, operates as a lending marketplace for providing capital financing solutions in the
U.S. It offers operational investment financing solutions within affordable rates suitable for business. Its
marketplace offers various loan products to consumers and small businesses, including unsecured personal
loans, unsecured education loan and patient finance loans, auto refinance loans, small business loans, and
lines of credit. It is a private company; hence its financials details are not available on the public domain.

TABLE 76. LENDR: KEY EXECUTIVES
Micro Lending
Designation Name
Market
Chief Executive Officer Tim Roach
Global Opportunity
Chief Revenue Officer Daniel DeMeo
Forecast, 2020-2027 Source: Corporate Publications and AMR Analysis
183
TABLE 77. LENDR: COMPANY SNAPSHOT
Workforce 50 ( AS of December 2019)

Lendr offers the following products:
TABLE 78. LENDR: PRODUCT PORTFOLIO
 Small Business Funding

Micro lending  Small Business Financing
 Start-up Business Funding
Micro Lending Source: Corporate Publications and AMR Analysis.
Market
Global Opportunity
Forecast, 2020-2027
184
8.9. ONDECK
1400 Broadway, 25th Floor
New York, 10018
U.S.
Tel.: +1-888-269-4246
Website: www.ondeck.com

OnDeck is one of the leading online small business lender in the U.S., Canada, and Australia, which offers
lending services more than 700 industries. It provides term loans and credit lines that help owner to increase
and flourish business. OnDeck loans are best received and utilized by customers who easily understand the
loan terms and the product that caters to their needs. In July 2020, OnDeck is acquired by Enova International
for $90 million to increase small –medium business lending services in Canada.

TABLE 79. ONDECK : KEY EXECUTIVES
Micro Lending Designation Name
Market Chief Executive Officer Noah Breslow
Chief Financial Officer Kenneth A. Brause

Global Opportunity
Analysis and Industry Principal Accounting Officer Nicholas Sinigaglia
Forecast, 2020-2027
185
Designation Name
Director Chandra Dhandapani

TABLE 80. ONDECK: COMPANY SNAPSHOT
Primary Business Financial Service
Geographical Presence U.S., Canada, Australia
Key Strategic Moves Product Launch

2019: 444.5
Overall Financial Status ($Million) 2018:397.7
2017: 350.4
Workforce 742 (As of March 31, 2019)

OnDeck offers the following products:
Micro Lending
Market TABLE 81. ONDECK : PRODUCT PORTFOLIO

Global Opportunity
Analysis and Industry Micro lending  Small business lending  Micro Loans
Forecast, 2020-2027 Source: Corporate Publications and AMR Analysis.
186
OnDeck reported net revenue of $444.5million in 2019, an increase of 11.8% as compared to 2018. The
growth was attributed to solid growth in finance & loans receivables, improved credit performance, and net
interest margins.
FIGURE 48. ONDECK : NET SALES, 2017 2019 ($MILLION),
444.5
397.7
350.4
2017 2018 2019

Market
Global Opportunity
Forecast, 2020-2027
187
OnDeck adopted product launch as to its key developmental strategy to sustain the intense competition and
OnDeck launched groundbreaking national marketing campaign to highlight the reality of

small business owners' requirements. OnDeck marketing campaign communicates to small
September 2019 Product Launch
business owners to understand the challenges of their day-to-day business, such as the urgent
need for money for business development.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
188
8.10. STREETSHARES, INC
1900 Campus Commons Drive Suite 200 Reston,
VA 20191
Tel: 1-800-560-1435
Website: www.streetshares.com

StreetShares, Inc. is a leading financial technology and small & medium business loan provider company. It is
focused on offering small business banking software for credit unions, mission-driven banks and non-financial
organizations. In addition, It offers peer-to-peer lending platform that provides contract financing solutions
and term loans to veteran’s community and businesses. It delivers affordable fixed-rate and fixed-term
personal loans for peoples. It is a private firm, and therefore, its financial details are not available on the public
domain.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
189
TABLE 82. STREETSHARES, INC: KEY EXECUTIVES
Designation Name
Chief Executive Officer Mark Rockefeller
President Mickey Konson
Chief Financial Officer Steve Vickrey
Chief Technology Officer Mohan Rao
Chief Commercial Officer Brendon Dibella

TABLE 83. STREETSHARES, INC: COMPANY SNAPSHOT
Primary Business Small Business Lending Services
Product Launch Product Launch

Micro Lending
Market
Workforce 47 ( As Of December 2019)
Global Opportunity
Forecast, 2020-2027
190
StreetShares, Inc. offers the following products:
TABLE 84. STREETSHARES, INC: PRODUCT PORTFOLIO
 StreetShares - Online term loan

Micro Lending
 StreetShares line of credit

StreetShares, Inc. adopted product launch as to its key developmental strategy to sustain the intense
StreetShares, Inc. launched lending-as-a-service that offers full digital small business lending
September 2019 Product Launch solutions. In addition, it offers customers and business online lending service and help them to
license their platform technology.
Micro Lending
Market
Global Opportunity
Forecast, 2020-2027
191
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Micro Lending
Market
FOR INFORMATION REGARDING PERMISSIONS, CONTACT:
Global Opportunity
Analysis and Industry Tel: U.S.:+1 (503 894-6022) | UK: +44-845-528-1300
Forecast, 2020-2027
Email: sales@alliedmarketresearch.com
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2020

MICRO LENDING MARKET

EMISPDF in-nmims001 from 122.170.126.143 on 2021-02-20 11:54:17 GMT. DownloadPDF.

1.4.2. Primary research ..................................................................................................................... 33

1.4.3. Analyst tools & models ........................................................................................................ 34

CHAPTER 2: EXECUTIVE SUMMARY............................................................................ 35

2.1.2. Top investment pockets ...................................................................................................... 39

3.2.2. Moderate-to-High bargaining power of buyers ....................................................... 43

3.2.3. Moderate-to-High threat of substitutes ....................................................................... 44

3.2.4. Low threat of new entrants ................................................................................................ 45

3.2.5. Low-to-Moderate competitive rivalry ............................................................................ 46

3.3. Market dynamics ...................................................................................................... 48

3.3.2. Lesser operating cost and low market risk .................................................................. 49

3.3.3. Restraint ..................................................................................................................................... 49

3.4.2. Consumer trends, preferences, and budget impact ................................................ 52

3.4.3. Regulatory framework .......................................................................................................... 52

3.4.4. Economic impact .................................................................................................................... 53

3.4.5. Key player strategies to tackle negative impact ........................................................ 53

3.4.6. Opportunity window ............................................................................................................. 54

CHAPTER 4: MICRO LENDING MARKET, BY PROVIDER ........................................... 55

4.2.2. Market size and forecast, by region ............................................................................... 58

4.2.3. Market analysis by country ................................................................................................. 59

4.4.2. Market size and forecast, by region ............................................................................... 64

4.4.3. Market analysis by country ................................................................................................. 65

4.5. Others ........................................................................................................................ 66

4.5.2. Market size and forecast, by region ............................................................................... 67

4.5.3. Market analysis by country................................................................................................. 68

CHAPTER 5: MICRO LENDING MARKET, BY END USER ............................................ 70

5.2.2. Market size and forecast, by region ............................................................................... 73

5.4. Solo entrepreneurs & self-employed...................................................................... 78

5.4.2. Market size and forecast, by region ............................................................................... 79

5.4.3. Market analysis by country ................................................................................................. 80

CHAPTER 6: MICRO LENDING MARKET BY REGION................................................. 82

6.2.2. Market size and forecast, by provider............................................................................ 84

6.2.3. Market size and forecast, by end user ........................................................................... 85

6.2.4. Market size and forecast, by country ............................................................................. 86

6.2.4.1. U.S. ............................................................................................................................................87

Global Opportunity 6.2.4.2. Canada ....................................................................................................................................90

6.3. Europe ........................................................................................................................ 93

6.3.2. Market size and forecast, by provider............................................................................ 94

6.3.3. Market size and forecast, by end user ........................................................................... 95

6.3.4. Market size and forecast, by country ............................................................................. 95

6.3.4.1. France ......................................................................................................................................97

6.3.4.1.2. Market size and forecast, by end user ................................................98

6.3.4.2. Spain ..................................................................................................................................... 100

6.3.4.2.2. Market size and forecast, by end user ............................................. 101

6.3.4.3. Poland................................................................................................................................... 103

6.3.4.5.2. Market size and forecast, by end user ............................................. 110

6.3.4.6. Rest of Europe................................................................................................................... 112

6.3.4.6.2. Market size and forecast, by end user ............................................. 113

6.4. Asia-Pacific .............................................................................................................. 115

6.4.2. Market size and forecast, by provider.......................................................................... 116

6.4.3. Market size and forecast, by end user ......................................................................... 117

6.4.4. Market size and forecast, by country ........................................................................... 118

6.4.4.1. China ..................................................................................................................................... 120

6.4.4.1.2. Market size and forecast, by end user ............................................. 121

6.4.4.3.2. Market size and forecast, by end user ............................................. 127

6.4.4.4. South Korea ....................................................................................................................... 129

6.4.4.4.2. Market size and forecast, by end user ............................................. 130

6.4.4.5. Rest of Asia-Pacific .......................................................................................................... 132

6.4.4.5.2. Market size and forecast, by end user ............................................. 133

6.5. LAMEA ..................................................................................................................... 135

6.5.2. Market size and forecast, by provider.......................................................................... 136

6.5.3. Market size and forecast, by end user ......................................................................... 137