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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... (microloans) in these microcredit programs. Some are individual loans like a regular bank loan. Some micro- loans are group based—individual borrowers have to form groups in order The author thanks three anonymous referees for their ...
... microcredit programs . Fifty - one percent of them had a bank account or had used credit cards , or both . In addition , for 69 percent of the U.S. borrowers , microcredit was only one of their sources of start - up capital . The other ...
... microcredit pro- gram , they are also preparing themselves to be part of the formal economy , if they have not already done so . They need to establish legally recognized businesses with proper documentation , accounting , insurance ...
... microcredit programs actually charged real interest rates in excess of 20 percent , up to almost 50 percent ( Morduch 1999 ) . But U.S. microcredit programs are limited by the inter- est rates in mainstream credit markets such as credit ...
... microlending for housing in the developing world , al- though it would appear that their development followed separate chan- nels , at least until recently . The sophistication and size of the U.S. market provides low - income lending ...