Trends of Microfinancing in Russia

Against the background of tightening requirements to the banking sector and globalization of the economy, microfinance becomes an important stake of the countrys financial market. Currently, there appears a high-level need for borrowed resources by small and medium-sized businesses, individual entrepreneurs and the consumers, which creates a demand to be met only by microfinance organizations in case of bank rejections. The article examines the concept and specificity of the microfinance organization activities, considers their functions and the history of appearance in Russia. It makes an analysis of the market microfinancing dynamics at the present stage and substantiates the main trends of its further development. In accordance with the analysis carried out, it specifies and substantiates the problems inherent to the microfinancing activity and offers the way of their solution implementation of which will allow to gain stable development of the microfinancing market and to increase availability and popularization of the finance services.