On Forbes.com, I was reading In Manhattan, It Pays to Be Small. It discusses a program of micro-lending focused on the Upper Manhattan Empowerment Zone, a not-for-profit development corporation and funded by local and federal tax dollars, and ACCIÒN USA, the largest "micro-lending" organization in the U.S..As you may know, the subject of micro-lending has received a lot of press since Grameen Bank and its founder Muhammad Yunus were awarded the Nobel Peace Prize for 2006 for their work in Bangladesh.
Now I don't know much about the efforts of ACCIÒN USA, but a quick review of its website shows that it is providing business loans in amounts ranging from $500 to $25,000 to small businesses that don't meet the stringent criteria that traditional banks must follow.
For some small business owners, this micro-lending option might be a great resource particularly when the option is a predatory loan shark.
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Related Tags: small business, business loan, Forbes, micro-lending, ACCION, Muhammad Yunus, Nobel Peace Prize
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