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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After a few years of experimentation, both practitioners and researchers began to realize that transplanting these programs to low- income communities in North America requires more adaptation than once thought necessary (Nelson 1994; ...
In the following sections, various aspects of a selection of peer-group lending programs in the United States and developing countries will be explored, including program characteristics, program design, and program operation—all based ...
Directory of U.S. Microenterprise Programs(Aspen Institute Self-Employment Learning Project 1992, 1994). On the basis of information obtained at practitioners' conferences and referrals, another 19 programs were added to the sample.
size in my survey of U.S. program clients is even smaller than that in Hulme and Mosley, the features discussed in this chapter pertain to information obtained primarily at the program level. When individual client characteristics are ...
although several large NGOs with signiμcant experience in Latin America have recently started their U.S. operations—most ... Thirty-one percent of the U.S. programs were entirely locally initiated without ofμcial afμliation with outside ...