Browsing Tag: Microcredit

We can all make a difference in areas in which we are "poor". ....We can lift ourselves out of this poverty

SKS was once seen as a model for how microcredit firms could do very well for themselves by making loans as small as $50 to basket weavers and other poor people. Now the company, which last week reported its first loss as a public company, seems to symbolize the problems of microfinance in India.

One of India’s leading social workers, Ela Bhatt, who heads the Self-Employed Women’s Association, or SEWA, said micro-finance firms had lost sight of the fact that the poor needed more than loans to be successful entrepreneurs. They need business and financial advice as well, she said.