Replicating Microfinance in the United States"With the publication of this volume, knowledge and understanding of the practices of delivering micro-credit reach a new level of consolidation, and the stage is set for important further steps."—from the Foreword by Richard P. Taub, University of Chicago 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. Replicating Microfinace in the United States reviews experiences in both developing and industrialized countries and extends the applications of microlending beyond enterprise to consumer finance, housing finance, and community development finance, concentrating especially on previously underserved households and their communities. Contributors include Nitin Bhatt, Robert M. Buckley, Bruce Ferguson, Elinor Haider, Chi-kan Richard Hung, Sally R. Merrill, Jonathan Morduch, Gary Painter, Sohini Sarkar, Mark Schreiner, Lisa Servon, Ayse Can Talen, Shui-Yan Tang, Kenneth Temkin, Andres Vinelli, J. D. Von Pischke and Marc A. Weiss. Replicating Microfinance in the United States is based on papers commissioned by the Fannie Mae Foundation and findings from an October 2001 conference jointly held by the Fannie Mae Foundation and Woodrow Wilson International Center for Scholars in Washington, D.C. |
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To address these questions, the rest of the chapter μrst lay down a simple framework regarding loan transactions, and then compares features of selected developing-country and U.S. programs. Finally, the simple framework is used to put ...
The regular center meetings allowed these women, for the μrst time, to interact with other similarly culturally isolated women in the same village. Although Larance's case study might not represent the norm, it nevertheless demonstrated ...
... provides low-income lending tools that are available only to a handful of emerging markets. Nevertheless, there still seems room for lessons learned abroad to inform features of U.S. LMI lending. This chapter μrst deμnes microμnance ...
The Home Finance Corporation in Ghana has sought to develop an overall housing μnance system, whereas DeltaBRAC, a new joint venture in Bangladesh between the NGO BRAC and the Delta Insurance Group, is the μrst housing-focused niche ...
The μrst scheme was the crisis-credit approach of the women's collectives, in which very small amounts are saved by poor women. Although this cannot meet the need for capital for housing, on a group-lending basis it is sufμcient for ...