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DETERMINANT OF LOAN PREPAYMENT OF MICROFINANCE BANKS IN NIGERIA
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Table of contents
CHAPTER ONE: Introduction 1
1.1 Background to the Study 1
1.2 Statement of the Problem 3
1.3 Objectives of the Study 4
1.4 Research Questions 4
1.5 Hypotheses 4
1.6 Significance of the Study 5
1.7 Scope of the Study 5
1.8 Organization of the Study 5
CHAPTER TWO: Literature Review 6
2.1 Conceptual Review 6
2.1.1 Microfinance and Microfinance Institutions 6
2.1.2 Evolution of Microfinancing 9
2.1.3 Evolution of Microfinance Institutions in Nigeria 12
2.1.4 Types and Characteristics of Microfinance Institutions 13
2.1.5 Concept of Loan Repayment Default 16
2.2 Theoretical Review 17
2.2.1 Loan Pricing Theory 17
2.2.2 Credit Market Theory 18
2.3 Empirical Review 19
2.3.1 Determinant Factors Affecting Loan Repayment 23
2.3.1.1 Demographic Factors 23
2.3.1.2 Economic Factor 25
2.3.1.3 Cultural Factors 26
2.3.1.4 Loan Factors 26
2.3.1.5 Institutional Factors 28
CHAPTER THREE: Methodology 30
3.1 Research Design 30
3.2 Population of the Study 30
3.3 Sample Size and Sampling Procedure 30
3.4 Instrumentation 30
3.5 Validity of Instrument 31
3.6 Reliability of Instrument 31
3.7 Procedure for Administration of Instrument 31
3.8 Model Specification 31
3.9 Method of Data Analysis 32
CHAPTER FOUR: Data Analysis and Interpretation of Results 33
4.1 Demographic Distribution of Respondents 33
4.2 Descriptive Analysis of Questionnaire Items 35
4.3 Test of Hypotheses 39
4.4 Discussion of Findings 44
CHAPTER FIVE: Summary, Conclusion, Recommendations 47
5.1 Summary 47
5.2 Conclusion 47
5.3 Recommendations 48
References 49
Appendix 55
Abstract
Loan repayment performance have known to be influenced by a myriad of factors such as interest rate, unstable prices of agricultural commodities, and the social relations and responsibilities of the borrowers among others. This study was investigated to determine loan repayment of microfinance banks in Nigeria. It further examine if the socio-economic characteristics of borrowers such as income, sex, age, education status will determines their loan repayment and analyzing the determinants of loan repayments among the microcredit finance group.
The study adopted a survey approach. One hundred and fifty (150) copies of structured questionnaire, designed in accordance with the aforementioned objectives of the study were distributed to three Microfinance banks in Ijebu-North Local Government Area; they are Apple Microfinance Bank, Oru; Orisun Microfinance Bank, Ago-Iwoye and; OOU Microfinance bank. The data generated from the survey was analysed using descriptive statistics such as frequency count and simple percentage for the demographic data while ANOVA was used to test the hypotheses stated in the study.
Findings of the study revealed that there was no significant impact of income on loan repayment (X2c=61.362, p>.05). and also the analysis showed that there was no significant impact of age on loan repayment (X2c=28.164, p>.05). The implication of this is that the borrowers are not using their income to service their loan or they are not making profit as expected from their businesses.
It was concluded that there was no significant difference in the determinant (income, gender, educational status and interest) on loan repayment among the microcredit finance group members. Among other recommendation is that enhancing the borrowers’ products marketability, financial management and accounting course through training in order to boast their business performances for reasonable profit to accrue for settlement of the loan they borrowed.
Word Count: 263
Keyword: Determinant of Loan, Repayment, Microfinance Bank, Income, Gender,
Educational Status and Interest.
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