Why American Small Businesses Are Singing Microcredit’s Praises

Thursday, October 23, 2014

Grameen America has helped multiple neighborhoods in the U.S. thrive. Here’s the story of one business owner in Queens, New York.

When I meet Susana Ugalde recently at her shop Susan Hair Salon, in Flushing, Queens, a young woman in furry Ugg boots is having her hair done by Ugalde’s stylist. The whir of hairdryers and a waft of wet hair products fill the bright orange space, and you can hardly see the woman’s face for the blond mane swept in front of it.

Ugalde is telling me how she emigrated to the U.S. from Mexico City in 1996 to start a better life for herself and her family.

“When you come here, it changes your mind, and suddenly you have other goals,” Ugalde says. “Here, life is better.”

Source: Inc. (link opens in a new window)

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Base of the Pyramid, financial services, lending, microcredit