Date of Conferral



Doctor of Business Administration (D.B.A.)


Business Administration


Scott W. Burrus


High interest rates, many mortgage defaults, and availability of capital are challenges for microbusiness owners. The purpose of this phenomenological study was to explore the strategies used by Ghana's microbusiness owners to manage microloans for sustainable businesses in Cape Coast, Ghana. Putnam's social capital theory was the conceptual framework for the study. A purposive and snowball sample of 10 participants completed semistructured interviews and described their perceptions and experiences of the phenomena. Data were analyzed using Moustakas' modified van Kaam method to catalog, group, and code information into themes. The study findings indicated there are high-interest rates and many mortgage defaults in the microfinance industry, and operating capital for microbusiness owners is insufficient. Results indicated savings must yield interest, microborrowers must have a business plan, microbusiness owners must seek professional advice where needed, and government must offer savers protection against a Microfinance Institution financial crunch. Engaging these issues could help microbusiness owners improve microloan management for sustainable enterprises. Participants said interest from savings could increase capital. They agreed that lower interest rates could prevent mortgage defaults. MFIs should organize entrepreneurial orientation workshops to help business owner's structure better financial plans and management strategies that could contribute to improving the socioeconomic lives of microborrowers. Implications for positive social change include the growth of microbusinesses, reduced mortgage defaults, and increased employment and tax revenues.