Microlending: Small Loans Empowering Entrepreneurs

Jen Risley's picture

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Are New England business owners taking advantage of the Five Financing Trends for 2011 featured on Entrepreneur.com? Last week's blog post touched upon Crowdfunding - but how is Microfinancing supporting our entrepreneurs?

Microfinancing

Perhaps you've heard of Kiva that offers small loans to entrepreneurs all around the world -- individuals who are working to emerge from poverty or can't access loans from banks. 

How Are We Using This Trend?

In New Hampshire, we have the NH Community Loan Fund which offers micro loans of $1,000 - $10,000 to small businesses and the self-employed.  Entrepreneurs can learn more about applying for a Community Loan Fund's Micro Loan on-line.  If you live outside of New Hampshire, search for other Microfinancing opportunities by state at the Association of Enterprise Opportunity's website.

Now let's hear from you - have you tried Microfinancing?  If you haven't, what keeps you from trying it out?