Replicating Microfinance in the United StatesJames 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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... interest loans from large charitable foundations. The signiμcantly larger loan funds in developing-country programs gave them a greater capacity to bear credit risk than their U.S. counterparts. Scale of Operation The difference in ...
... interest rates may run as high as 3 to 4 percent a month (Wai 1992). Some developing-country microcredit programs actually charged real interest rates in excess of 20 percent, up to almost 50 percent (Morduch 1999). But U.S. microcredit ...
... interest ratea (percent) 15 15 20 Norminal interest rateb (percent) 20 16 n.a. Average loan sizea (dollars) 75 75 347 Annual family incomec (dollars) 517 1,138 1,756 Average annual individual incomed (dollars) 107 n.a. 217 GNP per ...
... interest all over the world in replicating Grameen-type microcredit programs. The Grameen Bank's widely quoted 98 percent loan repayment rate has been regarded as the benchmark for similar programs. The arrears rate measures the ...
... interest in peer-group loans. Microenterprises may seek alternative sources of credit, even at much higher interest rates. This is another handicap to reaching a larger scale of operation. But peer-group lending programs can work in the ...