Micro-Lending Empowers Entrepreneurs Around The World

Wednesday, October 16, 2013

Jhuni’s options were limited. The 33 year-old widow had three young children to support. She could sew—a valuable skill in her village—but had no way to turn it into a sustainable business. With no access to capital, her outlook seemed bleak.

That was, until she applied for a loan of 30,000 Indian rupees, or about $550. Soon she had the funds she needed to build a prospering business, and she got it from individual lenders all around the world.

Source: Forbes (link opens in a new window)

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financial innovation, microcredit, microfinance