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One of the main objective of Microfinance Institutions (MFIs) as a complementary financial institution is helping existing business growth and encouraging the development of new businesses that generally have difficulty to access financial services in banking. The customers with no banking experience and unknown creditworthiness become the main problem causing disruption of institutional operational sustainability. The purpose of this paper is to determine the factors contributing to credit repayment behavior among the clients of MFIsin East Java-Indonesia, who have a business in micro and small-scaled. A descriptive and inferential statistics is employed to investigate the relationship of association between the probability of respondents’ loan repayment performance and the borrower characteristics’ factors on three main categories: personal characteristics, business characteristics and lender-borrower relationship. The results from the tested empirical model show that gender, age, marital status, business experience and distance have a strong effect on loan repayment performance (statistically significant at p=0.05). The remaining factors have logical and explainable effect but are not statistically significant.

eurasia: economics and business

PERSONAL CHARACTERISTICS, BUSINESS CHARACTERISTICS AND LENDER-BORROWER RELATIONSHIP – A STUDY ON MICRO FINANCE INSTITUTIONS OF EAST JAVA, INDONESIA: DOES IT MATTER IN REPAYMENT PERFORMANCE?