Microfinance introduction

Micro credit is lending small amounts (and the definition of small varies) to those who often do not have access to traditional lenders

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    Microcredit

    Microcredit is the extension of very small loans ( microloans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history.

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    Muhammad Yunus on Microfinance . Enterprising Ideas . NOW | PBS

    Dr. Muhammad Yunus is known throughout the world as a pioneer of the microcredit concept that uses small loans made at affordable interest rates to transform the lives of impoverished people, mostly women. The founder of the Grameen Bank in Bangladesh, Yunus and Grameen were jointly awarded the Nobel Peace Prize in 2006.

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    A History of Microfinance - Dr Muhammad Yunus

    Professor Dr Muhammad Yunus is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit to help its clients establish creditworthiness and financial self-sufficiency. In 2006 Yunus and Grameen received the Nobel Peace Prize. Yunus himself has received several other national and international honors.

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    Yunus: Microcredit Should Be Used to Help the Poor: Video

    Nobel laureate Muhammad Yunus comments on the growing popularity of microcredit. He speaks with Rishaad Salamat on Bloomberg Television's "On The Move Asia." (Source: Bloomberg)

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    Can Microlending Save Haiti?

    Léogâne, Haiti VENANTE LINO, a small-business owner who lost nearly everything in the devastating earthquake in January, stood in line here along with dozens of other impeccably dressed women, all waiting to pay the latest monthly installment on the emergency loans they received to rebuild their businesses. Mrs.

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    Microcredit in Haiti Part 1 - How microcredit can create opportunity

    This is part one in a three part blog series exploring World Concern's microcredit program in Haiti. Consider this a little 'behind the scenes' look at how your generosity is used to provide real opportunities for Haitian small business owners. The aim of this series is to provide you with a deeper understanding of how ... Be sure to read the other parts too!

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    Great source of data

    Good look at banking in haiti (lack thereof?) and need to microfinance

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    Microlending in Haiti - Timothy Schwartz - Open Salon

    Not all peaches and cream "... there are aspects of the industry that are disturbing and ring of past failure."

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    Microlending success for a Haitian Small Grocery store

    Lending small amounts of money can sometimes make a big difference. Here is an example of a microloan of $2000 USD that dramatically improved the life of a family in Darbonne Haiti.

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    MicroCredit example: Tailor Shop in Haiti

    Microlending can be a powerful stimulus. Here we examine a tailor shop that hopes to employ 10 people.

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    What is Microfinance?

    "Microfinance is not a [simple cure] for poverty–alleviation but a very effective tool in helping people to create their own jobs when there are no jobs available. BRAC’s experience has shown that Microfinance as a poverty alleviation tool is most effective when combined with other services such as programs in education and healthcare.DS: What are the challenges of microfinancing? Davis: Microfinance institutions (MFI’s) that operate solely for the profit motive can tarnish the reputation of an effective poverty-alleviation tool. In many countries, for profit microfinance companies charge excessive interest rates and loan money to vulnerable people without conducting due-diligence on the person’s ability to pay."

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    Used incorrectly, microcredit is of little help...and maybe some damage.

    Not everyone agrees with the benefits....

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    Best Practices

    Learn from the best

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    Micro credit only as good as the system

    HER sobbing can be heard throughout her village, Nagaram, in the Indian state of Andhra Pradesh (AP). When visitors from Hyderabad, the state capital, some 80km (50 miles) away, cross the threshold of her bare little house, Narsama Anthaiah flings herself prostrate and wailing onto the dirt floor to touch their feet.

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    This should be our model I think!

    UW Madison's program

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    Studies are flawed

    This paper presents the opinion that most studies are micro loans are flawed.

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    Banking on Haiti's Poor

    What can the poorest people do to aid economic development in their own communities? A great deal, when given easy access to financial services and remittance flows, says the Director of Fonkoze, Haiti's alternative bank for the poor. This short video tells the story of two of Fonkoze's clients.

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    Acumen Fund: Imagine a World...

    This video premiered at Acumen Fund's annual Gala Celebration on November 11, 2008. It features photography by Acumen staff and fellows, Maggie Hallahan (courtesy of Sumitomo Chemical), and Magnum Photographer Susan Meiselas. Directed by Lilibet Foster and Produced by Radical Media and Acumen Fund.

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    To Microcredit or Not to Microcredit?

    There has been a lot of debate recently on the effectiveness of microcredit solutions. Competing theories on international development are not uncommon. Many organizations and individuals have their own unique perspectives and strategies to work toward a shared vision of a world without poverty.

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