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Microfinance In USA About To Explode?
How would you like a couple thousand dollars to start your own business or keep it afloat?
What if you have the idea for a business but lack a network of support and training to get started?
If you have a business, or want to start one, with five or less employees then you’re a microenterprise and qualify for a microloan.
There are non-profits near you that can help you get a microloan of up to $35,000 and the tools and training you need to use that loan to its fullest.
This is all part of the microlending phenomenon that’s been slowly growing in our country for the past 30 years and is picking up steam as a result of the credit freeze.
To find an organization near you that specializes in microloans and microenterprise support, check out this directory by the Aspin Institute’s microfinancing program FIELD.
Photo by lusi .
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Maxim on February 27th, 2009 2:01 am
Micro loan is not innovative idea. Microloans have a long history: http://en.wikipedia.org/wiki/Microloan
But its wrong to name the loans up to $35,000 as microloans.
Bryan on June 28th, 2009 1:01 pm
Microloans in the USA upto $35k are ok given that the median income in that country id $47,000
THe value of a microloan is determined by the median income in that country
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