They also may lack traditional forms of "collateral, financial statements, or records in the database of a credit reporting bureau…Lending to, and collecting from, such clients, requires time-consuming personal interaction" (Microcredit, 2009, Microcapital). Lending small sums to many borrowers leads to multiplied administrative costs, and as these borrowers often repay their loans at more frequent intervals, which increases the administrative costs to the lending institution as well. The potential benefits

Banking Budget Analysis Opportunity Bank Budget Analysis Opportunity Bank is a convenient store for other professional banks. Essentially, it takes the stance that all people reserve the right to bank as they please and deserve an opportunity to do. This then provides them a greater sense of opportunity for each and every individual that walks in the doors. Opportunity Bank helps provide credit to those most in need, and thus believes that

Microfinance: The Effectiveness of Microfinance in Reducing Poverty in Post-War Sierra Leone A decade and a half into the 21st century, issues of poor growth, poverty and civil war still continue to afflict masses and inhibit sustainable growth in countries across the world, particularly in the African Continent. The bottom ten spots in the UNDP 2014 ranking of countries in terms of human development, for instance, were all taken up by

leading the Treasury Department's efforts to use microfinance in promoting international development. It is my recommendation to the deputies group that the United States expands its funding of microfinance initiatives in post-conflict and humanitarian crisis situations. Microfinance can entail a small loan given to an individual or a group of individuals at shared costs (microcredit), or it can come in other forms such as insurance [Definition of terms GOOD] The

Despite the fact that it also required heroic efforts on the part of Congress and the President, Time even gives credit to Bernanke for the $700 billion Troubled Asset Relief Program (TARP) (Grunwald 2009, p.4). Many, if not most of these decisions were profoundly unpopular and cost both the Obama and Bush Administration as well as Congress a great deal of political collateral. The relatively isolated Bernanke did not have

Bailing out the American economy: Banks vs. mortgage-Holders In 2008, the United States teetered on the brink of an economic crisis. If the United States were to suffer a financial meltdown, the global economy could spiral downward in a manner unprecedented since the Great Depression. The crisis had begun in the U.S. subprime mortgage market but had rapidly spread to other sectors of the economy. The remedy of the U.S. government