Microfinance News Update!
Microfinance Industry Update
There is plenty of microloan activity taking place outside of the United States. Samuel Adams (SAM) cofounder, Jim Koch, teamed up with leading microlender, Accion, to start changing that. With the Brewing The American Dream initiative, they started in New England and recently started working in Los Angeles to focus on food, beverage, and hospitality businesses. With loans in the $500 to $25,000 range, this program touches and helps new business owners where the Small Business Administration (SBA) backed loans from big banks typically won’t loan.
The Jakarta Post
Putting too much emphasis on profit is probably the most fundamental flaw in the world’s banking system, leading banks to neglect their main function of providing credit access to the public, microfinance expert and Nobel laureate Muhammad Yunus says.
Lenders Around the World Celebrate With Events in Twelve Cities and Kiva’s First “Loan-A-Thon”.
La Prensa San Diego
A new initiative launched in San Diego today that enables anyone with Internet access a chance to support small business owners, local economies and local jobs in the community. The initiative is a collaboration between two nonprofit organizations Accion San Diego, the largest local nonprofit micro lender since 1994 offering business loans from $300 to $35,000, and Kiva, the world’s first and largest micro-lending platform…
Microlending: Changing the World $20 at a Time (Infographic)
Accion listed as one of 5 “great microlenders” in an infographic explaining international microfinance
Wall Street Journal
Lisa Zerr urgently needed funds to upgrade the kids’ merchandise carried by her business, Yankee Toy Box, for Halloween and the holiday shopping season. A bank had turned down her request for a loan. Then she got a pitch explaining that, based on the business’s Amazon.com selling performance, she had prequalified for a loan from Amazon Capital Services Inc…