Wednesday, January 12, 2011

A Microfinance Directory--If You Don't Mind Checking Behind It.

In these days of economic doldrums and tight credit, people are in dire need of sources of money to start a business.  For very small businesses, a microloan, given by a lender who understands the peculiarities of a one-man shop that is brand new, could make all the difference.  But often, banks don't do this kind of lending.  So where do you find an alternative?

FIELD, the microenterprise Fund for Innovation, Effectiveness, and Learning Dissemination set up just such a directory a couple of years ago.  It is searchable by name of organization, state, and focus.  However, take the information with a grain of salt: apparently, it hasn't been updated recently, so the information is a couple of years old.  But it could point you to an organization in your area that can loan you small amounts of start-up money.  Some of the organizations also offer technical assistance and mentoring.  While it's NOT "free money," it's useful and nothing to sneeze at. 

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