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Local Nonprofits Giving Loans to Small Businesses

Audio

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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