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Local Nonprofits Giving Loans to Small Businesses

Audio

Aired 5/5/09

Small businesses are an important part of the local economy. We'll look at how microloans are stepping up and providing credit and hope to small businesses.

Maureen Cavanaugh: The use of micro-loans to stimulate the growth of small business has been a huge boost to struggling communities around the world. People, mostly women in poor nations, have used the loans to become financially self-sufficient by starting businesses that support themselves and their families.

But it's not only people in the developing world who could use just a little bit of financial help. There are groups who are now providing micro-loans and micro-financing to start-up businesses here in the United States. And with the banks in the grip of a credit crunch, micro-lenders are stepping up to provide a service that's needed now more than ever.

The San Diego Microfinance Summit is Thursday, May 7, 2009, from 8:30 a.m. to 2 p.m. at the University of San Diego.

Guests

Elizabeth Makee, executive director of ACCION San Diego, a non-profit that provides loans for low-to-moderate income business owners.

Barbro Owens-Kirkpatrick, member of the board of the Foundation for Women, a local non-profit offering microloans in San Diego and Africa.

Christine McDannel, owner of Cleanology, a cleaning business in San Diego.

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