How microfinance measures up in New Jersey
by Amy Yee

Bloomberg    Translate This Article
11 March 2022

On 11 March 2022 Bloomberg reported: A first-of-its-kind U.S. study evaluating the effects of a microloan program among women borrowers in Union City found that the positive effects went beyond boosting earnings. A three-year study of a microlending program for low-income female entrepreneurs in New Jersey found that participants increased savings, earnings, and credit scores, according to a report Friday [11 March]. Global Good News service views this news as a sign of rising positivity in the field of business, documenting the growth of life-supporting, evolutionary trends.

... The new study, funded by the Robin Hood Foundation and conducted by the nonprofit research firm MDRC, looked at 1,492 women in Union City, New Jersey, from March 2014 to March 2017.

... There is no silver bullet for reducing poverty, but 'microloans give options. They are another tool in our anti-poverty tool box,' said Richard Hendra, director of MDRC. 'For this population that we studied, they were very effective.'

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