Sources: Center for Financial Services Innovation study; Board of Governors of the Federal Reserve System (2007). Report to the Congress on the Availability of Credit to Small Businesses. Washington: Board of Governors of the Federal Reserve System, October.; FIELD Institute Market survey 2005; Rosen, Harvey S. (1998). &quot;The Future of Entrepreneurial Finance,&quot; Journal of Banking and Finance , vol. 22 (August), pp. 1105-07.; Knaup, Amy E. (2005). &quot;Survival and Longevity in the Business Employment Dynamics Data,&quot; Monthly Labor Review , vol. 128 (May), pp. 50-56.; GPG Analysis;
Do we have more recent data?
INCOMPLETE. INCOMPLETE. INCOMPLETE.
US MICROFINANCE: High School Students Making a Difference
The idea of credit and savings has been around for centuries
Muhummus Yunus (Grameen Bank, Bangladesh) popularized the idea after winning a Nobel Peace Prize in 2006 for his work
Going mainstream – online lending such as Kiva.org and the support of major banks such as Morgan Stanley, Deutsche Bank and Citigroup
- Microfinance in the U.S. – Seeing the need to support microentrepeneurs in the U.S., organization such as ACCION International helped launch offices in the U.S. in 1991.
Today, ACCION USA is serving microentrepeneurs nationwide.
The Underlying Philosophy Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.
ACCION USA - Our Mission As a leader in U.S. microfinance, ACCION USA empowers low-to-moderate income business owners through access to capital and financial education. With economic opportunity, these entrepreneurs—often minorities and women—can build assets, better provide for their families, create employment and strengthen their communities.