She was a single mother living in Baltimore, eight months pregnant with her second child. After a long bought with unemployment, she found work as a customer support agent for a marketing company, but she wanted more for her family.
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The discussion asked, "Can dedication to mission and the profit motive co-exist as seamlessly as some microfinance proponents suggest?" It is not as wonky as you might fear.
With acknowledgment and talk of new microfinance savings products, financial inclusion for individuals and small businesses will hopefully become a reality for millions of Americans.
If the microfinance model truly requires high interest rates, is it an anti-poverty tool for the impoverished or a pro-profit tool for investors? What is a fair price for good credit?
Microfinance can and does work in the U.S. The loans are larger than in the developing world, and the businesses financed are different. But the impact on people's lives and the local economy is real.
The nation's premier event on domestic Microfinance - Microfinance USA - opens here in San Francisco on May 20th. I have the privilege to speak on a ...
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