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Microenterprise and the small-dollar loan market

Author

Listed:
  • Tammie Hoy
  • Jessica Sackett Romero
  • Kimberly Zeuli

Abstract

"Small business" is a designation that includes businesses of many different sizes with varying financial needs and access to credit. Microenterprises ? businesses with fewer than five employees ? are served primarily by the small-dollar loan market, which ranges from payday lending to microloans offered by nonprofit organizations and, to a lesser extent, loans from traditional financial institutions. This Economic Brief explores the need for and challenges facing the small-dollar loan market in the United States.

Suggested Citation

  • Tammie Hoy & Jessica Sackett Romero & Kimberly Zeuli, 2012. "Microenterprise and the small-dollar loan market," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue May.
    • Handle: RePEc:fip:fedreb:y:2012:i:may:n:12-05
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