This paper focuses on the impact of microfinance on poverty. It aims to present the impact of microfinance by using multiple RCT (Randomized Controlled Trials) studies that have researched the impact of MFIs (Microfinance Institutions) on their clients. Four different RCT studies have been selected to present that impact, which all had different MFI as their object of research. First of them is Grameen Bank in Bangladesh followed by Spandana in India and Compartamos Banco in Mexico, last of which is XacBank in Mongolia. After presenting the studies, the paper addreses the issue of mirofinance in Bosnia and Herzegovina and how it has affected the poor and the economy in general. The last part of the paper shows the impact of the crisis of microfinance in Andhra Pradesh, how it started and what did it bring to the poor and the MFIs themselves. It is concluded in the end that not only there are no clear evidence of positive impact of microfinance on poverty but also that microfinance somewhat bars the poor from escaping the poverty trap and that the only positive impact is the increased financial inclusion of poor MFI clients in the short term.