The Asia Pacific Micro Lending Market should witness market growth of 13.1% CAGR during the forecast period (2022-2028).
Many non-profit microloan providers rely on charitable donations to fund their loans. Some lenders concentrate on providing micro-loans to particular groups or sectors of borrowers, like women- or minority-owned small enterprises, or ethnic marketplaces. High unemployment frequently coexists with contemporary economic advancements, and the issues appear to be resolved by self-employment.
Countries can benefit and increase the employment rates by building micro lending type of platforms. The modern economies' two-tiered development and employment issue can be resolved by allocating finance to the long-term unemployed. The experience obtained in a developing country's rural areas without banks is directly applicable to industrialized country urban areas where banks have stopped providing their services.
Despite this unexpected implementation of remedies from underinsured areas to the issues of areas that banks no longer serve, this provides credit to future entrepreneurs. The formal banking sector is becoming less willing to extend credit to new small businesses and unemployed individuals.
India's economy is currently growing at a fast rate in the world. Small and medium-sized enterprises (SMEs) have been crucial to India's rapid growth. Over 40% of the workforce in India is employed by the country's 43 million SMEs. SMEs in India frequently face substantial difficulties when attempting to expand their operations into larger premises, notwithstanding the enormous nature of these numbers. The issue affecting SMEs the most frequently is a shortage of working capital. According to analysis, Indian SMEs require 5.15 lakh crores of rupees to escape their financial load.
The China market dominated the Asia Pacific Micro Lending Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,072.3 million by 2028. The Japan market is experiencing a CAGR of 12.5% during (2022-2028). Additionally, The India market would display a CAGR of 13.8% during (2022-2028).
Based on Service Provider, the market is segmented into Banks and Micro Finance Institutes (MFIs). Based on End-user, the market is segmented into Micro, Small & Medium Enterprises and Solo Entrepreneurs & Individuals. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Funding Circle Limited (Funding Circle Holdings plc), On Deck Capital, Inc. (Enova International, Inc.), American Express Kabbage Inc. (American Express Company), LendingClub Bank (LendingClub Corporation), Zopa Bank Limited, Biz2Credit, Inc., Lendio, Inc., Bluevine Capital, Inc., Fundera, Inc. (NerdWallet), and StreetShares, Inc.
Many non-profit microloan providers rely on charitable donations to fund their loans. Some lenders concentrate on providing micro-loans to particular groups or sectors of borrowers, like women- or minority-owned small enterprises, or ethnic marketplaces. High unemployment frequently coexists with contemporary economic advancements, and the issues appear to be resolved by self-employment.
Countries can benefit and increase the employment rates by building micro lending type of platforms. The modern economies' two-tiered development and employment issue can be resolved by allocating finance to the long-term unemployed. The experience obtained in a developing country's rural areas without banks is directly applicable to industrialized country urban areas where banks have stopped providing their services.
Despite this unexpected implementation of remedies from underinsured areas to the issues of areas that banks no longer serve, this provides credit to future entrepreneurs. The formal banking sector is becoming less willing to extend credit to new small businesses and unemployed individuals.
India's economy is currently growing at a fast rate in the world. Small and medium-sized enterprises (SMEs) have been crucial to India's rapid growth. Over 40% of the workforce in India is employed by the country's 43 million SMEs. SMEs in India frequently face substantial difficulties when attempting to expand their operations into larger premises, notwithstanding the enormous nature of these numbers. The issue affecting SMEs the most frequently is a shortage of working capital. According to analysis, Indian SMEs require 5.15 lakh crores of rupees to escape their financial load.
The China market dominated the Asia Pacific Micro Lending Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,072.3 million by 2028. The Japan market is experiencing a CAGR of 12.5% during (2022-2028). Additionally, The India market would display a CAGR of 13.8% during (2022-2028).
Based on Service Provider, the market is segmented into Banks and Micro Finance Institutes (MFIs). Based on End-user, the market is segmented into Micro, Small & Medium Enterprises and Solo Entrepreneurs & Individuals. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Funding Circle Limited (Funding Circle Holdings plc), On Deck Capital, Inc. (Enova International, Inc.), American Express Kabbage Inc. (American Express Company), LendingClub Bank (LendingClub Corporation), Zopa Bank Limited, Biz2Credit, Inc., Lendio, Inc., Bluevine Capital, Inc., Fundera, Inc. (NerdWallet), and StreetShares, Inc.
Scope of the Study
By Service Provider
- Banks
- Micro Finance Institutes (MFIs)
By End-user
- Micro, Small & Medium Enterprises
- Solo Entrepreneurs & Individuals
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Funding Circle Limited (Funding Circle Holdings plc)
- On Deck Capital, Inc. (Enova International, Inc.)
- American Express Kabbage Inc. (American Express Company)
- LendingClub Bank (LendingClub Corporation)
- Zopa Bank Limited
- Biz2Credit, Inc.
- Lendio, Inc.
- Bluevine Capital, Inc.
- Fundera, Inc. (NerdWallet)
- StreetShares, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. Asia Pacific Micro Lending Market by Service Provider
Chapter 5. Asia Pacific Micro Lending Market by End-user
Chapter 6. Asia Pacific Micro Lending Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Funding Circle Limited (Funding Circle Holdings plc)
- On Deck Capital, Inc. (Enova International, Inc.)
- American Express Kabbage Inc. (American Express Company)
- LendingClub Bank (LendingClub Corporation)
- Zopa Bank Limited
- Biz2Credit, Inc.
- Lendio, Inc.
- Bluevine Capital, Inc.
- Fundera, Inc. (NerdWallet)
- StreetShares, Inc.
Methodology
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