First in a string, “A Sustainable Economy Rises in Los Angeles.”
This short article is from Dollars & Sense: Real World Economics, offered at g
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The owners of a favorite East l . a . taco vehicle need new cooking utensils and a far more attractive indication. The proprietors, wife and husband, visit a community that is trusted for a genuine session of individualized problem-solving, plus they come away with a minimal interest loan of $7,500 enabling them to maintain their enterprise.
Things rarely get very well for small enterprises in the economically struggling communities in Southern Ca just like East l . a ., where per capita earnings is not as much as $15,000 per year. Conventional mainstream banking institutions wouldn’t normally provide financing to those little business owners, and community development finance payday lending Leeds organizations might only provide micro-loans at rates of interest between 9% and 18% (plus charges), which are often unaffordable, and often have actually demands for credit and paperwork that exclude many business that is small. Continue reading “Funding an economy that is equitable Los Angeles”