Friday, November 15, 2013

Grameen has lent $1 million in Charlotte

Nonprofit microfinance lender Grameen America says it has now lent more than $1 million to 700 women in Charlotte since launching about a year ago.

The organization's goal is to help lift low-income women out of poverty through entrepreneurship through loans of about $1,000 to $1,5000. Its branch in Charlotte opened last winter after a years-long campaign from local business leader and city officials. Organizers raised $2.5 million, spurred by a donation from Wells Fargo.

Grameen Charlotte have a borrowers holiday market next month at Packard Place to raise more money. It will allow people to buy Christmas presents from some of the Grameen-sponsored entrepreneurs. Tickets will go toward more microloans.

VANTAGESOUTH TOPS IN SBA LENDING: The Raleigh-based banking operation says it was North Carolina's top Small Business Administration lender by loan volume, issuing 51 loans totaling $56 million through the program in the 2013 fiscal year.

BOFA RELEASES SMALL BUSINESS OWNER REPORT: The highlights -- Small business owner confidence in the economy is improving, but still less than half think the environment will get better next year; more than three quarters say health care costs and government leadership are a concern; less than one-third plan to hire in the next year. Read the full report here.

****This is a preview of The Charlotte Observer's Bank Watch Morning Report, bringing you banking news from the region, the top financial headlines, and the news driving activity in the Charlotte market. Sign up for our morning email newsletter or find out more here.****