Extension-Led Demonstration: Grameen Microfinance Methods and Capital Access for Low-Income Female Entrepreneurs
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| Title: | Extension-Led Demonstration: Grameen Microfinance Methods and Capital Access for Low-Income Female Entrepreneurs |
|---|---|
| Language: | English |
| Authors: | Edelman, Mark A. |
| Source: | Journal of Extension. 2021 59(2). |
| Availability: | Clemson University Press. 116 Sigma Drive, Clemson, SC 29634. Tel: 864-656-7156; e-mail: journalofextension@clemson.edu; Web site: https://tigerprints.clemson.edu/joe/ |
| Peer Reviewed: | Y |
| Page Count: | 7 |
| Publication Date: | 2021 |
| Document Type: | Journal Articles Reports - Descriptive |
| Descriptors: | Extension Education, Demonstration Programs, Financial Support, Barriers, Low Income Groups, Females, Entrepreneurship, Small Businesses, Loan Repayment, Money Management, Income, Credit (Finance), Program Effectiveness |
| Geographic Terms: | Iowa (Des Moines) |
| ISSN: | 1077-5315 |
| Abstract: | A nonprofit community development financial institution and Extension collaborated to conduct a demonstration project to evaluate efficacy of Grameen peer-group microfinance methodology in addressing barriers faced by low-income women entrepreneurs in a small metro area. Program performance metrics achieved by 284 culturally diverse, low-income entrepreneurs (almost all women) over 5 years included a program loan repayment rate of 99%, increased average client income, bank savings accumulation, and increased opportunities for improved credit scores. Client survey responses indicated program methods developed confidence and skills in finances, leadership, and teamwork. Extension professionals may play various roles in such endeavors. |
| Abstractor: | As Provided |
| Entry Date: | 2021 |
| Accession Number: | EJ1300814 |
| Database: | ERIC |
| Abstract: | A nonprofit community development financial institution and Extension collaborated to conduct a demonstration project to evaluate efficacy of Grameen peer-group microfinance methodology in addressing barriers faced by low-income women entrepreneurs in a small metro area. Program performance metrics achieved by 284 culturally diverse, low-income entrepreneurs (almost all women) over 5 years included a program loan repayment rate of 99%, increased average client income, bank savings accumulation, and increased opportunities for improved credit scores. Client survey responses indicated program methods developed confidence and skills in finances, leadership, and teamwork. Extension professionals may play various roles in such endeavors. |
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| ISSN: | 1077-5315 |
