Industry News Update
It’s been a while since the last update….and there’s been a bunch of news!
By Alan Kline, American Banker
Schultz said in the letter that Starbucks expects to introduce more corporate partners over the next couple months as it aims to grow the fund to a point where it will have made loans in all 50 states by the end of this year. He also asked for Geithner’s help in identifying more partners so that more CDFIs could participate in the program.
By Neha Thirani, New York Times (blog)
|Muhammad Yunus, the economist who founded Bangladesh’s Grameen Bank, visited Mumbai recently where he spoke to India Ink about his vision of “social businesses,” his forced departure from Grameen and the recent controversies that have dogged micro-finance in India and elsewhere.|
By Joe Nocera, The New York Times
This morning we received a Create Jobs for USA progress report. To date, we have raised more than $7 million in donations, thereby directly supporting $50 million in new financing for community businesses across America…
By Citiwide Merchant Funding
FED: Demand for Small Business Loans Grows in 2011 According to the Federal Reserve the number of businesses seeking a small business loan jumped in …
By Rochester Democrat and Chronicle
The program include loans through ACCION, an organization that provides loans to small businesses around the world. Splinelli and Mervine received a $10000 loan from the program and an invitation from Boston Brewing to spend time learning and …
By Megan Kamerick, New Mexico Business Weekly
So she turned to ACCIÓN New Mexico • Arizona • Colorado after hearing about the nonprofit microlender during her e200 training program with the US Small …
By Catherine Clifford, Entrepreneur
Starbuck’s Create Jobs for USA Fund launched Nov. 1, 2011 and has thus far raised $7 million for CDFIs, which are lenders that help small-business owners in underserved communities gain access to capital…..
By Steve Strauss, USA TODAY
ACCION is a great group and a significant microlender. Their own website puts it best: “ACCION USA is different from a bank or credit union….
By SOCAP Blog
But many lenders assumed–not surprisingly, given Kiva’s marketing and web design–that the smiling face on the other end of the PayPal transaction got the exact cash they lent out. A minor kerfuffle ensued in 2009 when a blogger broadcast …
By Emily Maltby, The Wall Street Journal
President Barack Obama said Friday that he will exercise his executive authority to elevate the head of the U.S. Small Business Administration to a cabinet-level position.
By Scott Gerber, TIME
Even in the developing world, entrepreneurship has emerged as a driving force behind the eradication of poverty thanks to Kiva and other micro-loan financiers. Whereas a traditional office or retail space was a necessity less than a decade ago, today, …
By Angus Loten, Wall Street Journal
A study by Pepperdine University found that more than 60% of small-business loan applications last year were denied. According to the National Federation of Independent Business, a Washington, DC-based small business lobby group, most small-business …