You say developed, I say developing - lets call the whole thing off

I recall some years ago Bill Clinton talking about bringing microfinance to the US. Well, he doesnt have to think about it anymore. (commence segway, and - drum roll please)... announcing Grameen in the United States!! They just made their first loan. Never thinking small, Grameen plans on getting to $176 in loans in five years.

The article is pretty short. However I have a personal comment here. The article states that the first loan was made to immigrant women in the Jackson Heights area of Queens, New York. I myself come from that area, and know from firsthand experience that the area was (and now to a lesser extent) heavily South Asian. I would like to know, just out of curiosity, if the first loan was made to Bangladeshi or Indian women. Anyone know if this is true?

It would make sense for Grameen to leverage its name recognition in the South Asian community for its entry point. However to get to their desired goals in five years, they will obviously need to branch out. Itll be interesting what immigrant groups they attract, and how it catches on. Ill definitely keep tabs on this. Stay tuned, more to follow, same internet time, same internet channel.