Microfinancing--the loaning or granting of very small sums of money for business or personal finance--has been hard to catch on in this country. We've had a few posts on this blog dealing with potential sources, and this week we found a couple more places to search.
One was right in central city Toledo, Lifeline Toledo. It's a central city ministry that collaborates with other groups working for the empowerment of people in Toledo, like Food for Thought and the Neighborhood Health Association. They operate the Mobile Medical Unit that goes through neighborhoods helping the medically underserved. Among its other ministries, it also offers a microloan program-- in amounts ranging from $50 to about $500--for very small business start ups and needs. While the website does not outline the application procedures in detail, they are available upon request.
On a national scale., the Association for Enterprise Opportunity now has a search engine to help identify their member organizations in your community. Organizations in the AEO provide different types of support for very small businesses, including (sometimes) microfinancing.
One was right in central city Toledo, Lifeline Toledo. It's a central city ministry that collaborates with other groups working for the empowerment of people in Toledo, like Food for Thought and the Neighborhood Health Association. They operate the Mobile Medical Unit that goes through neighborhoods helping the medically underserved. Among its other ministries, it also offers a microloan program-- in amounts ranging from $50 to about $500--for very small business start ups and needs. While the website does not outline the application procedures in detail, they are available upon request.
On a national scale., the Association for Enterprise Opportunity now has a search engine to help identify their member organizations in your community. Organizations in the AEO provide different types of support for very small businesses, including (sometimes) microfinancing.
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