The main aim of this paper is to explore the changing nature of the concept of microcredit in the Ghanaian context. Over the past few decades, there has been a shift in the global context of microcredit from an emphasis on charity to big business with profit motive. This is partly as a result of the fact that the sources of funding for microcredit have largely shifted from government to private local and international businesses. As private entities intent on making profit, microcredit institutions actively pursue a more impersonal, businesslike relationship with borrowers. In the Ghanaian context, this pattern manifests in the relationship between microcredit institutions and the market women who take loans, aptly described as “clients” as opposed to “beneficiaries”. As a result there is less investment in the activities that promote the welfare of borrowers. The emphasis is on entrepreneurship training and the women’s ability to repay loans rather than the impact of the loan on their own welfare and the wellbeing of their families. This paper touches on the ways in which women loan takers cope with the changing meaning of microcredit and the stricter monitoring of lending institutions. We find that despite the impersonal posturing of microcredit institutions, women are still able to use their social connections with the staff of the organisations to their advantage. Besides, in an environment of financial pluralism and a healthy demand for loans, both lending institutions and borrowing individuals or groups have more options than before.