Excerpt
SUMMARY: When Grameen Bank founder Muhammad Yunus won the Nobel Peace Prize for microlending in Bangladesh, he wanted to prove that the concept could work in the developed world. Special correspondent Fred de Sam Lazaro reports on efforts to give microloans to Americans attempting to become new entrepreneurs and small business owners.
JUDY WOODRUFF (Newshour): Today's action by the Federal Reserve, as we said earlier, is aimed at making it easier for businesses to borrow and then spend money.
Our next story is about another effort to help business owners, in this case, low-income American entrepreneurs who are just getting started.
Special correspondent Fred de Sam Lazaro reports on bringing an approach that's worked well in developing countries to the U.S.
A version of this story aired on the PBS program "Religion & Ethics Newsweekly."
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FRED DE SAM LAZARO (Newshour): With its careful oversight and counseling, he says Grameen America's loan repayment rate has been 99-plus percent -- far better than anything seen in big commercial banks.
COMMENT: I've been a member of Kiva for years and have recirculated (aka re-loaned) the same $100 since I started. I HAVE noted more and more microloans to U.S. citizens listed lately. Also, 100% of my loans get paid back, so far.
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