FROM LOANS TO BETTER LIVES: ASSESSING THE ROLE OF MICROFINANCE IN TRANSFORMING LIVING CONDITIONS

Abstract

The examinaion of microfinance and its impact on livestock, transport, electricity and gas, appliances, and sanitation and the resulting changes of standard of living of the low-income households has been outlined in this study. Despite the availability of microfinance to the general public, the impact it has on changes of living conditions on the other dimensions has not been detailed. A structured questionnaire was used to collect information from 263 people and the information was analyzed using the Pearson and linear regression and reliability analysis within SPSS. Results from the studies showed microfinance and better living conditions a positive relationship. Regression analysis showed microfinance helps improves living conditions of the households by the investment of several productive assets to better move around and access the utilities and the home appliances and sanitation upgraded. The study showed those people in the low socio/economic communities do benefit from microfinance programs; however, the study was self-reported, was cross-sectional, and was very particular to a particular sample. The variation of the study showed the people making the microfunance and the microfinance programs of great value to diversify the microfinance programs and the technical assistance to and the microfinance further the socio/economic benefits of microfinance.