Table 2 Description of explanatory variables in the study.
Variables | Variable type | Variable description | Expected effect |
|---|---|---|---|
Income | Dummy | 1 = improved and 0 = otherwise |  |
Saving | Dummy | 1 = having voluntary saving and 0 = otherwise |  +  |
Training | Dummy | 1 = got training and 0 = otherwise |  +  |
Utilization of loan | Dummy | 1 = utilized for the intended purpose and 0 = otherwise |  +  |
Marital status | Dummy | 1 = married and 0 = otherwise |  +  |
Education status | Dummy | 1 = educated and 0 = otherwise |  +  |
Gender | Dummy | 1 = if male and 0 = otherwise | - |
Age | Continuous | measured in years |  +  |
Family size | Continuous | Number of people in the family | - |
Duration with a microfinance institution | Continuous | Years in membership |  +  |
Distance from a lending institution | Continuous | How they far away from the microfinance institution (in km) | - |