Development experts worldwide have always sung the praises of
microlending,
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.
Business
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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