Microfinance initiatives are programs designed to provide financial services to low-income individuals or communities who lack access to traditional banking. These services often include small loans, savings accounts, and insurance, enabling people to start or expand small businesses, improve their living conditions, and achieve financial independence. Organizations like the Grameen Bank, founded by Muhammad Yunus, have pioneered microfinance by offering small loans without requiring collateral. This approach empowers entrepreneurs, particularly women, to invest in their ventures, fostering economic growth and reducing poverty in underserved areas.