Microlending in Missouri
I love finding market solutions to social needs. So I was happy to write about Grameen Bank’s expansion into New York City, and I’m even happier to report that microfinance loans are already available to small business owners in Missouri. ACCION USA accepts applications from business owners anywhere in the United States, and it has licensees in several states including nearby Illinois.
Passing stricter laws about payday loans may sound like attractive policy, but it doesn’t give anyone better access to credit. So nonprofits like Grameen and ACCION are stepping up to the plate.
I’m still hoping for an announcement of microcredit offices opening in Missouri if not from Grameen, then from ACCION or one of the other organizations out there.