Digital Dharma

The Middle Path, One Day At A Time

Microlending taking off in U.S.

1 Comment

Cassidy: Microlending taking off in U.S., too – SiliconValley.com

“There have been people practicing microfinance in California for years,” Weaver told me. “And maybe there is not a lot of awareness that it is happening here.”…

…Turns out microfinance is big in the United States, though not as big as Weaver and many others would like it to be. Opportunity Fund says there are at least 20 million U.S. microbusinesses, which generally means businesses employing fewer than five that borrowed less than $35,000 ā€” often much less ā€” to start up….

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Author: Bill

Stumbling down the Middle Path, one day at a time.

One thought on “Microlending taking off in U.S.

  1. This is an important development, especially since the big banks are getting more foolishly selective with their lending. Ironically, I read a few months back how banks were attracted to microlending, especially with it’s 98% repayment rate.

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