4  BIS Review 126/2007  One national nonprofit organization, NeighborWorks America (NeighborWorks), is making important strides in helping facilitate loan workouts and modifications.
The term microfinance is generally used for the provision of financial services, in most cases micro-loans, to the poor, and many people have begun to realise its opportunities. Indeed, the concept of microfinance has been accepted as an effective means to reach out to the poor.