So...What is microfinance?

Don't worry, you weren't the only one thinking it! At Arizona Microcredit Initiative, we get this question ALL the time. And for good reason: The definition of microfinance can change depending on who you ask! Let's start with the basics. Microfinance is lending small amounts to people who don't have access to traditional banking institutions. This could be because their income is too low, they have a low credit score or perhaps they just live somewhere in the world where banks aren't easily accessible. The goal of microfinance is to provide the opportunity for people to build sustainable businesses and become financially self-sufficient. And when individuals are financially self-sufficient,

Why everyone should care about small business

Photo courtesy of City of St. Charles, IL via Flickr Despite the intimidating shadow of today’s mega-corporations, we still hear often how important small businesses are to the health of our economy, and rightfully so. Why do I think everyone should care about small business? Here are my reasons: Happy workers - Small business owners tend to be happier with their work situation than people who are not self-employed. Happy business owners tend to make happy work environments, which make employees happier, and happiness is always a bonus for society. This optimistic feeling has a lot to do with the control entrepreneurs have over their venture, but maybe they also realize how much they’re help

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