DOWNLOAD ~ Increasing Microlending Potential in the United States Through a Strategic Approach to Regulatory Reform. ~ by The Journal of Corporation Law ~ eBook PDF Kindle ePub Free

eBook details

Title: Increasing Microlending Potential in the United States Through a Strategic Approach to Regulatory Reform.
Author : The Journal of Corporation Law
Release Date : January 22, 2009
Genre: Business & Personal Finance,Books,
Pages : * pages
Size : 318 KB

Description

I. INTRODUCTION After 30 years of lending money to poor people in developing countries to encourage entrepreneurship, microfinance institutions (MFIs) have become generally accepted in the international community. (1) The United Nations named 2005 the International Year of Microcredit. (2) President Bill Clinton sang its praises. (3) Microlending has appealed to both liberals and conservatives in U.S. government. (4) Muhammad Yunus, and the Grameen Bank he founded, were recently given a Nobel Peace Prize, and Business Week named Yunus one of "The Greatest Entrepreneurs of All Time." (5) Many international MFIs have become self-sufficient and enjoy repayment rates in the high 90 percentages. (6) Microloans have supplied billions of dollars in small loans to millions of people struggling to start and expand businesseS. (7) Despite this international success, microcredit efforts in the United States are nowhere near self-sufficient, face high default rates, and are not meeting microentrepreneurs' needs.