An institutional innovation process led by Extension created a statewide microfinance intermediary. The intermediary provides business technical assistance and microloans to entrepreneurs having difficulty securing conventional credit but having workable business plans. The process included (1) gathering indicators of a problem; (2) formation of a steering committee of relevant interests to study the concerns; (3) a search for alternative solutions and assessment of probable consequences; and (4) emergence of an institutional strategy for addressing gaps. A business plan was implemented over 5 years. The collaboration created new opportunities on multiple levels for Extension problem-solving impacts and outcomes.
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 4.0 License.
Edelman, M. A. (2015). An Extension Case Study in Institutional Innovation: Microfinance Intermediary Formation. The Journal of Extension, 53(2), Article 15. https://doi.org/10.34068/joe.53.02.15