He aspired to break the stereotypical way of lending. He decided to do the exact OPPOSITE of what a conventional BANK did
1) Banks lent to men; he extended credits to women.
2) Financial Institutions demanded collateral; he offered collateral-free loans.
3) The traditional lenders set their prime focus on urban areas or cities; he reached out to rural and remote areas.
When the banks thought the wealthy and affluent made better borrowers, he proved that the poor were not only reliable borrowers but were also astute entrepreneurs.
He is known as the Father of Microfinance Industry – Prof. Muhammad Yunus
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