microlending for small businesses?

Micro-lending is something we’ve all heard about in stories about developing countries. The concept is a good one: you loan 50 or 75 dollars to a woman with a sewing machine in Quito, a similar amount to a farmer in the hills overlooking Karachi, or a leather worker in a Lagos slum — and the entrepreneurial drive of those people will help them pull their families out of poverty.

Somewhat similar in concept are micro-lenders in North America. Here, though, the clientele is  two or three-person companies with owners with high credit ratings but who *still* can’t get a bank loan.

BusinessWeek Online has an article about these microloans.


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