Development experts worldwide have always sung the praises of
in which miniloans ranging from $25-$2,000 make the destitute
clients — typically female and minority — into successful
entrepreneurs who can support their families. The premier world
microlender is Bangladesh’s Grameen Bank, which has made 4
million microloans with a 98+% repayment rate, notes New
Internationalist. Microlending’s stellar success in the
Third World is fueling inspiration stateside, where domestic
programs sport similarly impressive repayment rates.
Ethics credits U.S. microloaning popularity with a
growing trend to treat microloans as serious investment vehicles
rather than charity ventures.
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