Big Business Drawn to Microlending
May 16, 2006
Long the domain of charitable organizations, microlending is now attracting a growing number of large businesses, reports The Wall Street Journal.
In India, for instance, the financial companies Citigroup, ABN Amro Holding, and HSBC Holdings have provided millions of dollars to a locally run company, SKS Microfinance, which provides tiny loans to help entrepreneurs escape poverty. (A paid subscription is required to view this article.)
