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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NGOs have formed partnerships with μnancial institutions, charitable groups, and international donors, with each member of the partnership following its comparative advantage. The NGO partner most often assists with outreach, ...
... donor and grant funds to keep rates lower. As has been noted, Grameen Bank's explicit policy grants successful micro- enterprise borrowers a subsidized housing loan. Transaction-Based Operational Focus.
Casa Melhor has developed an innovative ap- proach to tripartite funding for very poor households, in which an NGO institutional “champion,” with donors and charities supplying external funds, forms a μnancially sustainable process.
Emerging markets have traditionally sought donor, government, and charitable funds for use in subsidy schemes, especially for interest rates. As policies shift to market-priced lending for both LMI lending and microcredit, ...
Key problem is access to credit, not the rate Less than 1 year Trend is to minimize technical assistance Available goods may be taken in addition to personal guaranties as an additional incentive to repay Many NGOs receive donor ...