Colorado Microfinance

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Industry Update

Industry Update

 It’s time for a microfinance industry update. The weather is hot….but these updates are cool!

 Small Business Lending Jumps in May

By Reuters
The overall volume of financing to small U.S. companies rose to 108.4 percent in May from a 96.6 in April. Borrowing rose 18 percent in May from a year earlier.

Small Business Lending Recovers, Delinquencies Drop to New Low

By the Washington Post
Lenders are warming up to small businesses again as the overall volume of loans to small companies rose 12 percentage points in May, marking the largest month-to-month increase in three years. This rise nearly erases the past four consecutive months in decline.

International Microfinancier Expands to Bay Area

By Next American City

The international microcredit institute Grameen Bank expanded its American portfolio this week, opening a branch in Oakland, California. Last week, the bank also celebrated reaching 10,000 borrowers since expanding into the US four years ago

Microlender Kiva begins making loans to LA small businesses

By Los Angeles Times

Kiva is an international microlender known for providing loans in Third World countries to businesses that might be in a need of a cow or a new oven. But now Kiva is moving into a new territory — Los Angeles.

 Poverty Resolutions’ Microfinance Program: A Sustainable Market-based Approach to Fighting Poverty

By Albany Times Union

This March, Poverty Resolutions launched a pilot microfinance program as part of its strategy for sustainable development in Haiti. Since the program’s inception, 11 clients, from a group made up of men and women from a small town north of Port-au-Prince, have each received $300 in microloans.

 Responsible lending critical in microfinance institutions

By The Financial Gazette

When the early pioneers of microfinance such as Professor Yunus Muhammed the founder of Grameen Bank in Bangladesh created the sector their aspiration was to help the poor escape from poverty, as low-income households had little or no access to formal finance. This challenge, in turn, demanded sustainable and scalable models for delivering adequate financial services to poor people, therefore the emergence of MFIs.

 NYSE partners with Yelp, Accion for events

By B to B Magazine

New York—The New York Stock Exchange has partnered with online directory Yelp and lending company Accion to produce Small Business Connections, a series of workshops aimed at small businesses.

 Accion aids in bridging biz-loan gap

By Heather Draper, Denver Business Journal

Last fall, four banks turned down Jeffrey Buxton’s request for a loan to start his business, Green Mountain Ski Bus. A former assistant professor of business/entrepreneurism at the Community College of Denver, Buxton lost his job last year, so he decided to form his own ski bus company with two former students. He thought he was a good candidate for a traditional bank loan.

 The world of crowdfunding

By The Economist

THE idea of harnessing many minds to write software, with open-source code, is well established. A similar process is happening for non-commercial projects and micro-finance loans, notably by Kickstarter and Kiva respectively. And the idea behind ProFounder is to apply crowdfunding to companies, explained Jessica Jackley, the firm’s founder and chief executive, during an interview with Tom Standage, digital editor of The Economist, at our Ideas Economy: Information 2012 conference on June 6th in San Francisco (full video above).

 Entrepreneurs and Small Businesses Thrive Through Microfinance

By Bank of the West

SAN FRANCISCO, June 12, 2012 –/PRNewswire/ — Bank of the West today announced that three nonprofits have received a total of $150,000 in charitable investments from the Bank of the West Charitable Foundation to support micro-entrepreneurial efforts in underserved communities.

Kyrgyzstan: Could Microfinance Bubble Burst?

By Myles G. Smith,

Tatyana Baksheeva, a resident of Bishkek, Kyrgyzstan, is a young woman with a solid business idea and the drive to make it happen. To succeed, she first needed to shed some Communist-era baggage in order to let her sense of individual initiative flourish. But now she’s finding that Kyrgyzstan’s sketchily regulated capitalist system is giving rise to a different set of problems.

Africa: Five Microcredit Programs That Are Breaking the Cycle of Poverty

By Isaac Hopkins,

One of the best ways to encourage economic growth in poor areas is to provide affordable small loans to farmers and small-business owners. Called microcredit or microloans, these programs can inject capital into communities that lack the collateral required by conventional banks.

 Future of Grameen Bank: My Fears

By Muhammad Yunus,

I was very saddened by the news. I am sure many others, including the poor women who are the owners of the Grameen Bank, felt the same as I did. The finance ministry formed a four-member Commission of Inquiry through promulgation of an order on May 15, 2012. The Commission has been given three months to submit their report.

 Alex Silva Reflects on His Role in Linking Microfinance to Capital Markets

By Center for Financial Inclusion Blog

For Alex Silva, President of Omtrix and Executive Director of Calmeadow, a transition from industrial engineering and corporate banking to microfinance was natural. In our most recent Microfinance Matters Interview, Silva discusses his unique introduction to microfinance, the commercial approach to microfinance that he was instrumental in developing and much more.

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