Financial Literacy, Access to Microfinance, and Sustainable Development

This study aims to explore the impact of financial knowledge on getting microfinance access. An experimental methodology is employed, particularly probabilistic models, such as Logit and Probit, using data from a primary survey. The results of this study confirm that knowledge of savings and loans, savings and loan interest rates, installment payments, and security deposits have positive and significant effects on access to microfinance. Access to microfinance promotes Sustainable Development through reducing poverty (SDG 1), achieving zero hunger (SDG 2), promoting gender equality (SDG 5), creating decent employment, promoting economic growth, and reducing income inequality (SDG 10).