Micro-loans to US poor from Bangladesh’s Grameen Bank
Sunday, February 17, 2008 Grameen Bank of Bangladesh has made the first loans to U.S. citizens who do not have a bank account. Grameen Bank is experienced in micro-financing in its home country, lending money to poor women that want to start small businesses. Since the start of the mortgage-crisis more people in the U.S. tend to turn to fringe financial institutions bypassing the mainstream bank institutes. "Now is a good time because of ... the subprime crisis and that highlights the issue that the financial system is not perfect," , says the bank's founder and 2006 Nobel