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With Squeeze on Credit, Microlending Blossoms |
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New York Times
Amanda Keppert is convinced that she would have lost Mandy’s Korner, her hot dog stand in San Jose, Calif., if she had not received a type of loan that is more common in the third world than in the United States.
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Newsweek
How a Bangladeshi bank is growing in the U.S. by making tiny loans to groups of poor women with entrepreneurial dreams.
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Net Currents
June’s jobless data provided some mixed news today – the number of people out of work rose by 125 thousand in June – while the unemployment rate fell by two-tenths of a percent to 9 and a half percent. Reports say the drop in that rate is a result of many giving up looking for work. We recently met people who haven’t given up – and through an organization founded to help small businesses – have managed to stay in business. We found out more at a conference at St. John’s University.
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Newsweek
It’s pretty safe to say that three years ago no one could have predicted that one of the few financial institutions to be opening new branches and expanding lending in America would be a Bangladeshi bank that specialized in loans to people below the poverty line (the vast majority of them women). But that’s just what has happened.
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Microfinance Groups Think Big |
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The Wall Street Journal
Tight credit markets have slammed small businesses during the recession. That leaves entrepreneurs like Cecilia Aspiazu, who sells clothing and beauty products out of her home in Jamaica, Queens, increasingly turning to microloans.
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