Tiny Loans Stimulate the Appetite for More, by Betsy Cummings

Tuesday, March 22, 2005

It used to be that a $50 microloan to start an embroidery kiosk or other modest enterprise was a gateway out of poverty for women in poor countries. Now, some of them are telling aid groups that that is no longer enough. Rather, they want serious money – in some cases, several thousand dollars – to build small businesses, hire employees and establish themselves in a developing marketplace. After almost three decades, the microloan movement has created a global network of tens of millions of female entrepreneurs and, just as important, a growing subclass of highly sophisticated businesswomen who are collectively helping to lift their nations out of poverty.
Full article available here.

Source: The New York Times