Our speakers will include representatives from venture capitalist firms and specialists on SBA programs. More details to come.
Here is an informative article on microlending. The article was written by Kristina Shevory of The New York Times.
In the article, Shevory reported that, “Before the economic collapse, microfinance â€” the granting of very small loans, mostly to poor people â€” was a concept most closely associated with the developing world. But tight credit and the recession have increased the demand for smaller loans in the United States, giving microlending a higher profile and broadening its appeal.
“In addition, last yearâ€™s economic stimulus bill granted $54 million to the Small Business Administration for lending and technical assistance to microlenders. Cities like San Francisco and New York have expanded or introduced their own microfinance programs. This year, loan applications at many of the countryâ€™s 362 microfinance outfits, some of which have been quietly operating since the 1980s, have more than doubled. Many of the groups expect them to keep rising as other financing streams remain tight for small companies.”
To read the complete article go to: With Squeeze on Credit, Microlending Blossoms