NYCity News Service Archives
 

Title

Microlender Makes Macro Impact

Authors

Karina Ioffee

Borough

Queens

Publication Date

1-9-2009

Abstract

Jackson Heights, long a magnet for immigrants starting businesses, has attracted an innovative bank dedicated to helping new ventures with small loans.

The neighborhood, filled with shops and cafes run by immigrants from India, Bangladesh, Colombia and Mexico, was chosen last year as the first location of the U.S. office of Grameen Bank.