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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The lender may also require a marketable asset to serve as collateral, to ameliorate character risk. The lender may also require a detailed business plan from the borrower to evaluate her project risk. Loans are usually granted to ...
... 5% of a loan Maximum asset 0.5 acre 0.5 acre $5,000 1 hectare allowedd Traininge 3–6 months, 7 days, None now 8 days, skills nonskilled nonskilled Northeast United States Carolina, United States U.S. Programs Grameen, Bangladesh.
But there may be a limit to whether intragroup trust is always an asset to the loan program. There were isolated instances of group members, who were acquaintances before joining the loan program, colluding to approve each other's loans ...
Bank's maximum-asset requirement of 0.5 acre of land, with the landless poor as its target clientele. Among the four second-generation developing- country sample programs, only the Mudzi Fund in Malawi had the professed goal of serving ...
create a Federation of Savings Groups, which not only has more assets, but more bargaining power in seeking institutional partners to provide credit. The concept of asset mapping, discussed below, has arisen in part from attempts to ...