In terms of total assets they have from USD 50 million to 2 million.5 The smaller institutions usually serve specific areas of the country instead of covering the whole country. Nonetheless, some smaller institutions have become national organisations, such as TMSS that was first established in 1964 as a local organisation in Thengamara village but has then been proclaimed national organisation. Additional information was obtained from annual reports, audit reports, financial statements, or other relevant documentation provided by microfmance institutions. The total assets reflect what the MFI owns or what is owed to it, while equity represents the difference between total assets and liabilities.