Factors Affecting Loan Repayment Performance of Microfinance Institution Borrowers: The Case of Omo Microfinance at Wondo Genet Woreda, Ethiopia

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Author(s): Akalewold Fedilu Mohammed (School of Governance and Development Studies, Hawassa University, Hawassa, Ethiopia)and Mesfin Hirpato Wobe (Wondo Genet Woreda Public Service and Human Resource Development Office, Wondo Genet, Ethiopia)
Copyright: 2023
Pages: 18
Source title: Research Anthology on Microfinance Services and Roles in Social Progress
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-7552-2.ch019

Keywords: Accounting & Finance / Accounting and Finance / Business & Management / Business Science Reference

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Abstract

This study investigated the factors that affect the loan repayment performance of Omo Microfinance Institution borrowers at Wondo Genet Woreda, Ethiopia. Both primary and secondary data were used in the study. The required data were collected from 225 borrowers of Omo Microfinance. Respondents were selected by a stratified random sampling technique. Both qualitative and quantitative methods of analysis were used. The findings of the study revealed that 44.9% of borrowers in the study area did not repay the amount of money they borrowed as per credit schedules. The major factors that affect the loan repayment performance of borrowers were their sex, educational level, family size, borrowing experience, timelines of loan, repayment period and advisory visit.

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Factors Affecting Loan Repayment Performance of Microfinance Institution Borrowers: The Case of Omo Microfinance at Wondo Genet Woreda, Ethiopia

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