for developing the financial instrument that supports would be business owners too poor to qualify for traditional bank loans. Today, the global microfinance industry has more than 200 million clients with $73 billio.
his Holy Cow Coffee Company to join the "upscale food truck brigade" before turning to Opportunity Fund. Today, with a new generator powering the refrigerator, espresso machine, coffee brewer and crepe griddle, the Holy Cow truck is a popular attraction at farmer's markets. "I borrowed from Opportunity Fund rather than a bank because they are more in tune with the needs of small business and have Air Max Zero Id Designs more favorable credit terms," said Cruce. Microlending was devised by Bangladeshi banker Mohammad Yunus, who won a 2006 Nobel Peace Prize Air Max Zero Tokyo On Feet
"Paul Cruce tried banks, and even the high tech crowdsourcing route to get Air Max Zero White
d to move from a garage into a storefront. When these Silicon Valley small businesses needed an influx of cash, and fast, they didn't find help at a bank. They turned instead to a type of financing more commonly associated with buying a sewing machine for a Guatemalan tailor or a tractor for an African farmer. Microlending, a decades old form of financing for the world's poorest, is now booming in Silicon Valley. The region leads the country for microlending as a growing echelon of would be businesspersons who can't qualify for traditional bank loans meets money from cash rich techies and firms, including eBay and Microsoft, who want to donate in innovative ways. "Our clients are entrepreneurial people, but the mainstream financial system doesn't work for them," said Eric Weaver, founder and CEO of the San Jose, Calif.
largest financer of food trucks in the state. equivalent of a cow in a developing country," he said. "It's something a family can support itself with.
, based Opportunity Fund, which invested a record $7. 6 million in loans to small businesses last year, creating about 1,900 jobs. Beneficiaries range from dry cleaners to barbeque joints, and the lender is now believed to be the Nike Air Max Zero Og Ultramarine
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