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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Working Capital and the NCRC are separate networks of afμliated programs and represent the more sustainable peer-group lending programs in the United States, although there were turnovers of individual programs within each network.
Working Capital, the largest network of U.S. peer-group lending programs, was started by an entrepreneur with extensive Latin American experience. It functioned in partnership with existing local organizations.
The NCRC and Working Capital programs served 66 and 857 borrowers respectively in 1996; the clients of each were located in multiple sites. Indeed, this lack of signiμcant scale of operation conμrms the concerns of some U.S. ...
Thus, unless women were the explicit target clientele, these U.S. programs in the sample were similar to three of the second-generation Working Capital, NCRC, North b Developing-country data are from Hulme 230 Chi-kan Richard Hung.
Working Capital, NCRC, North b Developing-country data are from Hulme and Mosley (1996, tables 12.4, 15.4, and 16.5). c Developing-country data are from Hulme and Mosley (1996, vol. 2, 111, 328). d Developing-country data are from Hulme ...