--- title: "Meaning & Key Takeaway of: We developed microfinance to fight loan…" description: "\"We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself...." image: "https://sms4smile.com/quotes/i/bb7/muhammad-yunus-2158_advantage_we-developed-microfinance-to-fight-loan_2335635.png" --- # We developed microfinance to fight loan sharks - I was… ![“We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea.” quote by Muhammad Yunus](https://sms4smile.com/quotes/i/bb7/muhammad-yunus-2158_advantage_we-developed-microfinance-to-fight-loan_2335635.png) [Download](https://sms4smile.com/quotes/i/bb7/muhammad-yunus-2158_advantage_we-developed-microfinance-to-fight-loan_2335635.png) [Open image](https://sms4smile.com/quotes/i/bb7/muhammad-yunus-2158_advantage_we-developed-microfinance-to-fight-loan_2335635.png) > “We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea.” [Muhammad Yunus](https://sms4smile.com/quotes/author/muhammad-yunus/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Microfinance aims to empower the poor, not to replace predatory lenders, and it isn’t a cure-all. **In simple terms:** Microfinance helps but isn’t perfect. Key Takeaway Combine microfinance with broader economic reforms. Themes poverty alleviation financial inclusion ethics development Mood thoughtful optimistic Type policy economic When to use this quote - rural credit programs - urban microloans - NGO funding Key Concepts social entrepreneurship economic policy Questions to Reflect On - How can microfinance be improved? - What other tools complement it? A Different Perspective Overreliance can create dependency. ★ ★ ★ ★ ★ No ratings yet [Advantage](https://sms4smile.com/quotes/about/advantage/) [Fight](https://sms4smile.com/quotes/about/fight/) [Making money](https://sms4smile.com/quotes/about/making-money/) [Microfinance](https://sms4smile.com/quotes/about/microfinance/) [Money](https://sms4smile.com/quotes/about/money/) [Panacea](https://sms4smile.com/quotes/about/panacea/) [People](https://sms4smile.com/quotes/about/people/) [Shark](https://sms4smile.com/quotes/about/shark/) [Sharks](https://sms4smile.com/quotes/about/sharks/) ## Related quotes > [The moment you say microfinance everybody wants to help you.](https://sms4smile.com/quotes/muhammad-yunus/the-moment-you-say-microfinance-everybody-wants-to-help-you/) [Muhammad Yunus](https://sms4smile.com/quotes/author/muhammad-yunus/) > [What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory…](https://sms4smile.com/quotes/bernie-sanders/what-wall-street-and-credit-card-companies-are-doing-is-really-not/) [Bernie Sanders](https://sms4smile.com/quotes/author/bernie-sanders/) > [The credit card companies have put the loan sharks out of business.](https://sms4smile.com/quotes/elizabeth-warren/the-credit-card-companies-have-put-the-loan-sharks-out-of-business/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [The computer revolution has allowed white-collar criminals to do what the Mob would have loved to do - put a pawnshop and a loan…](https://sms4smile.com/quotes/kurt-vonnegut/the-computer-revolution-has-allowed-white-collar-criminals-to-do-what/) [Kurt Vonnegut](https://sms4smile.com/quotes/author/kurt-vonnegut/) > [Lenders, including major credit companies as well as payday lenders, have taken over the traditional role of the street-corner loan shark, charging the poor…](https://sms4smile.com/quotes/barbara-ehrenreich/lenders-including-major-credit-companies-as-well-as-payday-lenders/) [Barbara Ehrenreich](https://sms4smile.com/quotes/author/barbara-ehrenreich/) > [“Looks like a hit on a local loan shark,” I say. “A guy by the name of Octavio”](https://sms4smile.com/quotes/j-mark-bertrand/looks-like-a-hit-on-a-local-loan-shark-i-say-a-guy-by-the-name-of/) [J. Mark Bertrand](https://sms4smile.com/quotes/author/j-mark-bertrand/) > [Life is little more than a loan shark: It exacts a very high rate of interest for the few pleasures it concedes](https://sms4smile.com/quotes/luigi-pirandello/life-is-little-more-than-a-loan-shark-it-exacts-a-very-high-rate-of/) [Luigi Pirandello](https://sms4smile.com/quotes/author/luigi-pirandello/) > [“What’s it about?” Danny seemed authentically curious. “The night. 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The idea that more than a few will…](https://sms4smile.com/quotes/ian-smillie/this-is-the-basis-for-the-most-important-critique-of-microfinance-the/) Ian Smillie > [Microfinance stands as one of the most promising and cost-effective tools in the fight against global poverty.](https://sms4smile.com/quotes/jonathan-morduch/microfinance-stands-as-one-of-the-most-promising-and-cost-effective/) Jonathan Morduch > [Making loans and fighting poverty are normally two of the least glamorous pursuits around, but put the two together and you have an economic…](https://sms4smile.com/quotes/james-surowiecki/making-loans-and-fighting-poverty-are-normally-two-of-the-least/) [James Surowiecki](https://sms4smile.com/quotes/author/james-surowiecki/) > [Microfinance is an incredibly powerful tool ... but we must move beyond micro-hopes and micro-ambitions for women.](https://sms4smile.com/quotes/gayle-tzemach-lemmon/microfinance-is-an-incredibly-powerful-tool-but-we-must-move-beyond/) [Gayle Tzemach Lemmon](https://sms4smile.com/quotes/author/gayle-tzemach-lemmon/) > [Microfinance is an idea whose time has come.](https://sms4smile.com/quotes/kofi-annan/microfinance-is-an-idea-whose-time-has-come/) [Kofi Annan](https://sms4smile.com/quotes/author/kofi-annan/) ## More by Muhammad Yunus > [What is entrepreneurship, after all? 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