01711nas a2200121   4500008004100000022001400041245006000055210005900115260004200174520131900216100001801535856003601553       2010                        eng d  a1913-610200aWhen Small is Big: Microcredit and Economic Development0 aWhen Small is Big Microcredit and Economic Development  aOttawabTalent First Networkc11/20103 aMicrocredit - the extension of small loans - gives people who would otherwise not have access to credit the opportunity to begin or expand businesses or to pursue job-specific training. These borrowers lack the income, credit history, assets, or security to borrow from other sources. Although the popularity and success of microcredit in developing countries has been trumpeted in the media, microcredit is established and growing in the United States and Canada as well. Its appeal comes from its capacity to provide the means for those who have the ability, drive, and commitment to overcome the hurdles to self-sufficiency.

In this article, the role of microcredit as a stimulant for economic development is examined. First, its importance for the establishment of small businesss is described. Second, the article provides an overview of the general microcredit climate in the United states and the local situation in the Ottawa area. Third, brief stories about individuals who have received this type of loan reveal the human impact behind the economic benefits. Finally, the role of microcredit in funding startups is analyzed in comparison to other sources of available funding. The article concludes with a summary of the benefits of microcredit as a win-win proposition for economic development.   
 1 aBrown, George  uhttp://timreview.ca/article/392