Replicating Microfinance in the United States
James H. Carr, Zhong Yi Tong
Woodrow Wilson Center Press, 28/06/2002 - 387 من الصفحات
"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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... borrower will engage in strategic calculations of the costs and beneμts of paying off a loan obligation. Project risk involves considerations of a borrower's ability to run a successful business, 224 Chi-kan Richard Hung.
... beneμts for both underwriting and transaction costs, it clearly limits the participation of those with informal income, which in many emerging markets is the main form of livelihood for low-income households. Loan Products and Lending ...
... beneμts from the federal government, and in return must take steps to ensure they serve as many creditworthy borrowers as possible (Fishbein 1992; Temkin, Quercia, and Galster 2001). As a result, CRA re- quires that federally regulated ...
... beneμts of homeownership. As an ex- ample, a recent paper summarized the various arguments used to promote homeownership by low-income households, examined the empirical evidence, and attempted to disaggregate homeownership per se from ...
... beneμts not only mainstream housing μnance, but also puts in place the prerequisites for many innovations in ... beneμt from μne tuning its own approaches to LMI lending from lessons learned abroad. Table 9.3 summarizes this chapter's ...