Overview

In the United States, a large population - including an estimated 35 per cent of black households and almost one-third of Latino households - is unserved by mainstream banking institutions. This study asks how microfinance institutions can benefit such underserved households and their communities. Microfinance was pioneered in the developing world as the lending of small amounts of money to entrepreneurs who lacked the kinds of credentials and collateral demanded by banks. Similar practices spread from the developing to the developed world, reversing the usual direction of innovation, and today several hundred microfinance institutions are operating in the United States.

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9781930365117

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<p> This book offers a useful introduction to the international microfinance field for US practitioners interested in gaining a better understanding of effective practices and potential areas of connection. -- Steve Shepelwich, Small Enterprise Development

<p>This book offers a useful introduction to the international microfinance field for US practitioners interested in gaining a better understanding of effective practices and potential areas of connection.--Steve Shepelwich Small Enterprise Development

Author Information

James H. Carr is senior vice president for innovation, research, and technology at the Fannie Mae Foundation. Zhong Yi Tong is senior research fellow in housing finance and economics. Replicating Microfinance in the United States is based on papers presented at an October 2001 conference at the Woodrow Wilson Center.

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