This page contains statistics about the state of payday lending in the United States, curated by our editorial team. We will continue to add and update statistics as new data becomes available. 12 million Americans use payday loans each year. As of 2017, there were 14,348 payday loan storefronts in the United States (there were …
Payday Loan Debt Statistics in the US (updated 2021) Read More »
Muhammad Yunus is known as the father of modern microfinance. His professional accomplishments include serving as the head of the economics department of Chittagong University, founding Grameen Bank, co-founding the Microcredit Summit Campaign, and most notably, winning the 2006 Nobel Peace Price. He is also the author of Banker to the Poor. Yunus remains an …
Who was Muhammad Yunus, father of modern microfinance? Read More »
Thousands of Texans struggle with payday loans every day. Debt consolidation is a solution. If you’re one of the thousands of Texans stuck in the rut of payday loan cycles, you’re not alone. The state of Texas has 1,675 storefront payday lenders, and Texans have paid over $1.2 billion in payday loan fees. Fortunately, there’s …
Read some of the inspiring true success stories from around the world. These heroes were able to conquer poverty and secure a better future for them and their children. All these instances show the power of how financial products can change the future. Table of Contents MicroloansAna-Maria from ColumbiaAmit Korukonda from India SBA LoansAdriana Cagan, …
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The Pathways out of Poverty book series contains 3 books by Sam Daley-Harris, Ann Awimbo, Gary S. Fields, Guy Pfeffermann and Benedito Cunguara. Here are links to them on Amazon. Table of Contents Pathways out of poverty in rural Mozambique: A panel data analysis, 2002/2005Pathways Out of Poverty: Private Firms and Economic Mobility in Developing …
Microloans and payday loans are sometimes conflated, but very different types of financial products. Both are small loans to low-income individuals who typically have no credit score or access to traditional financial products. However, microloans are designed to help low income individuals start businesses, whereas payday loans are designed to give short term credit between …
The differences between microloans and payday loans Read More »
Eliminating poverty is only possible if it can be measured. There are a number of poverty measurement tools like unemployment, income level, and savings. But what if you need a leading and not a lagging indicator? What if you need to compare countries? That’s where the Progress out of Poverty Index (PPI) comes in. Table …
Progress out of Poverty Index (PPI) – The #1 Poverty Measurement Resource Read More »
Table of Contents What are Microloans?Are you eligible for a microloan?Is a microloan best for your business?How to get a microloan1) Formulate a thorough business plan2) Pull credit reports, increase creditworthiness3) Determine personal investment / collateral / guarantee4) Research your options5) Find a local intermediary (if applicable)6) Complete any training requirements7) Submit the applicationThe SB …
Credit Summit is a website dedicated to exploring all financial products that can help individuals get out of poverty. Lately consumer debt has become a problem in the United States. From payday loans, to credit cards, to student loans. Thus, we have decided to focus on consumer debts that tend to entrap people into an …
