US entrepreneurs turn to microfinance

US entrepreneurs turn to microfinance - http://www.businessweek.com Avatar Posted by ArmadaIG under Raising Capital
From http://www.businessweek.com 4717 days ago
Made Hot by: on October 21, 2008 9:36 pm
It looks like US entrepreneurs are increasingly turning to microloans as banks tighten lending standards.

To be sure, microlending is a tiny, tiny piece of small business credit in the US. Microlenders tend to be small nonprofits, and all their loans combined probably wouldn't be a blip on the portfolios of one of the big banks. That said, there's some anecdotal evidence that it's a growing source of credit for some very small businesses locked out of the conventional credit market.

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