Are there possibilities to save the hopes of microfinance?

Microfinance has received a number of critics about its impact and outreach. The lack of conformity among the views on microfinance indicates that the picture about microfinance is not complete. By reviewing literature of proponents and opponents, this study investigates whether microfinance failed in its promise and if the possibilities exist for improvement. The outcome of this review is that the results in the literature are mixed and empirical research is needed to determine the true impact of microfinance. The flaws of microfinance can be improved by better regulation, more research and enhancement of the social perspectives by microfinance providers.