ABSTRACT:- Microfinance encompasses the provision of financial services and the management of small amounts of money through a range of products and a system of intermediary functions that are targeted at low income clients. Small and Medium Enterprises in Ghana especially those the Accra central are faced with the main challenge impeding on the growth of their businesses. A cross-sectional study was employed to evaluate the impact of microfinance products and services on the performance of small and medium enterprises in Okaishie market in Ghana. Chi-square test was used to test the association between the two categorical variables. The paper identified that gender, age, highest education attended, ownership structure and type of business of SME entrepreneurs influences the products and services received from Microfinance. The SWOT analysis indicated that the strength of financial services obtained from Microfinance have greatly profited SMEs in Okaishie market and have assisted the demonstration of business skills and pioneering ideas, improved the serious scarcity of finance, and enhanced SME performance. The weakness were delay in giving loans, cumbersome procedure in acquiring loans and high interest rate on loans prevent SMEs from acquiring loans whereas opportunities available were demand and supply gap, technological progress, possibility for microfinance to offer other services such as the payment of salaries, and pension funds management to SMEs. The treats such as Government regulations and interventions, inflation, weak judicial system that does not enforce the recoverability of debts, and low saving cultures. The paper recommends that microfinance should continue to attract SMEs by reducing the rate of interest on loans and increase the repayment period of the long term loans since micro credit given to SMEs has a positive effect on their performance.

Keywords: Microfinance, Performance, Entrepreneur, Emerging market