I mentioned microcredits yesterday. The idea is to extend very small loans (microloans) to people who would have no capacity whatsoever to get loans through traditional means. Microcredits are targeted to the unemployed and poor, primarily focused on developing or under-developed nations where so many entrepreneurs can’t get their businesses started.
In November I read an article in the Montreal Gazette – Thinking small: Rooted in South Asia, Microcredit movement’s branches have spread to Quebec. The article was about Mohammad Hassan who started Jobra Centre, Inc. in Montreal, an organization that helps with the microcredit process (which they call “community loans” …read more

This year, Muhammad Yunus, founder of Grameen Bank was awarded the Nobel Peace Prize. His contribution to society? The idea of microcredits, which are very small bank loans given to the poor to help them develop their own businesses.
It should be pointed out that Grameen Bank has been very successful making money from microcredits. They’re not a non-profit organization. But in many ways that’s precisely the point; you can help and make money at the same time.
Some might argue the moral implications of getting rich off the poor, but Muhammad’s goal is to help the poor rise up with opportunities …read more