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The global micro lending market size was valued at $134.35 billion in 2019, and is projected to reach $343.84 billion by 2027, growing at a CAGR of 12.6% from 2020 to 2027. The micro lending market has witnessed significant growth in the past few years; however, due to the outbreak of the COVID-19 pandemic, the market experienced a sudden downfall in the first half of 2020, as various micro and small business have shut their operations due to growing loss in various fields. Furthermore, the rise in pandemic situation has affected the cash flow of business enterprises, which in turn is expected to create significant opportunities for the growth of the market.
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