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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... potential clients or borrowers is likely to be larger in these areas than in comparable U.S. communities. It is thus much easier for programs in developing countries to reach a larger scale of operation than their counterparts in the ...
... potential borrowers' postbankruptcy creditworthiness. Full disclosure of μnancial information seems to be warranted. The contrasting pattern of prior credit history between the developing- country and U.S. sample borrowers is a re ...
... potential borrowers may be creditworthy in their willingness to repay a loan (low character risk) but not in their ability to re- pay by generating enough cash ×ow from the proposed businesses (high project risk). Thus, peer-group ...
... potential borrowers. All developing-country and U.S. programs use step or progressive loans—initial loans are small and gradually increases to larger loans. Although the maximum loan size is $10,000 for U.S. programs, almost seven times ...
... potential for credit-risk reduction, the sustainable margin for error in U.S. programs is much smaller than that for developing-country programs. A margin for error is sustainable if the loan performance, given a program's risk-bearing ...