Business Loans for Women - Article About Acción New York And Their Business Loans.

Excerpt from a news item.

She said a main complaint Acción New York receives from community organizations regarding immigrant business owners “is that a lot of people go to informal lenders because they do not see any option.” Measuring the extent of such activity is difficult, she said, because many who borrow from loan sharks do not want to talk about it.

Very often, she said, the lender in such a transaction is from the same community as the borrower.

Acción New York, a nonprofit organization, says its clients are “95 percent minority, almost all immigrants and 40 percent women, all groups who face severe disadvantages toward gaining access to credit.” (Other experts note that nonimmigrant minority borrowers often face the same disadvantages.)

For full article go here.

Sharon