Description - Replicating Microfinance in the United States by James H. Carr
In the United States, a large population - including an estimated 35 per cent of black households and almost one-third of Latino households - is unserved by mainstream banking institutions. This study asks how microfinance institutions can benefit such underserved households and their communities. Microfinance was pioneered in the developing world as the lending of small amounts of money to entrepreneurs who lacked the kinds of credentials and collateral demanded by banks. Similar practices spread from the developing to the developed world, reversing the usual direction of innovation, and today several hundred microfinance institutions are operating in the United States.
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