Requisite Qualifications For Microfinance Job

Microfinance is a provision of extending funds to small scale borrowers who need it on an emergency basis

. These borrowers typically have lower credit worthiness and hence are not in a position to apply for loans from traditional banks.

Segments of demands for Microfinance:

People who usually borrow microfinance can be categorized into the following three segments.

Microfinance loan is usually borrowed by people who are engaged in agricultural work. It is also borrowed by those who are manual laborers in forestry, mining, construction, transport and household industries. With the help of microfinance loans, farmers can purchase livestock when they do not have funds.

Such loans are also borrowed by rural artisans and weavers. They can acquire microfinance for working capitals.

It is also commonly borrowed by those (like medium scale farmers and small scale entrepreneurs) who are not capable of getting formal loans.

Over the passage of time, microfinance is gaining more popularity; hence it is becoming a lucrative career option. People looking for job in microfinance industry can find work opportunity all across the globe. The range of jobs associated with microfinance includes research associates, asset managers, financial planners and many more. Following are the guidelines that you must follow for getting a prospective job in microfinance.

Make sure that you have completed your bachelors degree in finance, economics or business. If do not have a proper bachelors degree, you will neither be qualified for competitive internships nor for full-time jobs.

Look for an internship course in a prestigious microfinance institution like Accion or Liva. You may also search for a voluntary job. Although you will not be paid in your due course of internship but you will get a valuable opportunity to work and enhance your knowledge. Sometimes, internships turn into full time paychecks.

Research the trends of microfinance industry in your state. If possible, read some success stories on microfinance and learn about the business in your state. Go through some of the stories and autobiographies of microfinance leaders. Keep their tips in mind and follow them in practical field. There are many books available that can guide you to face interview for microfinance job. Read those books and gather knowledge so that you can successfully crack your first job.

Start sending your resume to different companies. Some may respond but some may not. Do not be disheartened or impatient. If you find a job that matches your interest and background, call them and ask for an interview.

Before you go for the interview, gather all possible information about the company. Read the companys profile and their key strategies so that you can respond to the interviewer and impress him.

After the interview is over, send a thank you letter to the interviewer. This can make you stand out of the crowd and seem little more personable.

If you are looking for a job in Microfinance in Nigeria, you need to have the requisite qualifications as stated above.

by: Alicia Hodkins

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