Third World Banking In Queen City
The controversial micro-loan lender Grameen America is getting ready to hit Charlotte taxpayers up for a permanent loan – a.k.a. subsidy grant – of $200,000.
A local organizing committee is already raising funds to launch a Grameen America branch in Charlotte and says it needs the grant largess to help fill its revolving loan pool, according a recent city manager’s memo to council.
The company, which provides loans to “financially empower low-income entrepreneurs,” currently has branches in New York and Omaha, Nebraska.
City staff is slated to deliver the Grameen America pitch to the council’s economic development committee next week, as part of the city’s small business initiative already under discussion by committee.
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