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Small-scale rural industrial entrepreneurs have over the years been denied formal credit for reasons ranging from bad credit risks to lack of collateral. The micro-credit lending scheme is an innovative credit system designed to enhance the extension of credit to this neglected rural clientele. The literature suggests that existing micro-credit lending programs have made more credit available to the small-scale rural industrial entrepreneur than was the case before their emergence. It was, therefore, the problem of this study to identify, describe, and validate the general characteristics of indigenous micro-credit lending schemes in developing countries and to determine their importance to program effectiveness. The study used a modified Delphi technique involving twenty-seven (27) experts. The experts were individuals with extensive experience in micro-credit lending. The general characteristics were identified through an extensive literature review and expert suggestions. The literature review involved information from articles in various international journals, Congressional reports, national and state newspapers, agency reports and newsletters, and sections of books. A Likert-type scale was used to obtain expert rating for the selected general characteristics in order to determine their importance to program effectiveness. Twenty-three (23) general characteristics were identified in the study. The selected general characteristics were compatible with the stated characteristics of existing micro-credit lending programs. Each general characteristic was placed in one of six categories: (1) community participation and involvement; (2) loan policies/conditions; (3) sensitivity to human and cultural factors; (4) recognition of the importance of trained staff and staff/client interaction; (5) leadership and staff attributes; and (6) location of facilities and services. The importance ratings assigned to the general characteristics varied among the experts. The experts identified the characteristics that they believed to be potentially important to program effectiveness. It was the opinion of the experts that there was a difference in importance among the selected general characteristics in terms of their contribution to program effectiveness.