More important is the scatter plot of data points, each representing a microfinance institution. Many points are above the threshold for profitability, and many are on the left of the graph, indicating low reliance on soft (subsidized) funds. This is the hope of commercial microfinance. But note too that an ample number of institutions are above the threshold and to the right, funded by social investors of various stripes. The solid circles represent institutions with for-profit status, while the empty circles are non-profits. While the for-profits tend to cluster to the northwest in the figure, the.
