Popularized in the Developing World, Microloans Help Finance Budding Businesses
By Krissah Williams
Washington Post Staff Writer
Monday, December 11, 2006; Page D01
Awoman in a rural South Asian village receives a loan of about $250 to buy a dairy cow. She milks the cow, sells the milk and improves her standard of living while repaying the loan. In much of the world, this is microfinance.
In the United States, microfinance is an entirely different animal. An aspiring entrepreneur typically needs thousands, not hundreds, of dollars to build a business that has a chance of turning a profit."