Confessions of a Microfinance Heretic: How Microlending Lost Its Way and Betrayed the Poor
Confessions of a Microfinance Heretic: How Microlending Lost Its Way and Betrayed the Poor
Very little solid evidence exists that microloans make a dent in long-term poverty. Sadly, evidence does exist for negligence, corruption, and methods that border on extortion. Part exposé, part memoir, and part financial detective story, this is the account of a one-time true believer whose decade in the industry turned him into a heretic.
Hugh Sinclair worked with several microfinance institutions around the world. He couldn’t help but notice that even with a booming billion industry on their side, the poor didn’t seem any better off. Exorbitant interest rates led borrowers into never-ending debt spirals, and aggressive collection practices resulted in cases of forced prostitution, child labor, suicide, and nationwide revolts against the microfinance community.
Sinclair weaves a shocking tale of a system increasingly focused on maximizing profits—particularly once large banks got involved. He details his discovery of several scandals, one of the most disturbing involving a large African microfinance institution of questionable legality that charged interest rates in excess of 100 percent per year, and whose investors and supporters included some of the most celebrated leaders of the microfinance sector. Sinclair’s objections were first met with silence, then threats, attempted bribery, and a court case, and eventually led him to become a principle whistleblower in a sector that had lost its soul.
Microfinance can work—Sinclair describes moving experiences with several ethical and effective organizations and explains what made them different. But without the fundamental reforms that Sinclair recommends here, microfinance will remain an “investment opportunity” that will leave the poor with hollow promises and empty pockets.
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Categories: Loan Products Tags: Betrayed, Confessions, Heretic, lost, Microfinance, MicroLending, poor, Price, several
Out of the Maze: the clear-cut guide to business plans
Out of the Maze: the clear-cut guide to business plans
The Most Important Part Of Running Your Business Is Planning Your Business Many new businesses fail – that’s the simple truth. And most of them fail because they don’t have a plan. They don’t know who their ideal clients are, they don’t know how to price properly, and they don’t know how much their business costs will be. If you are starting a business or looking for investment the surest way to success is through careful planning – yet most business owners never put together a business plan, simply because they don’t know how. Out of the maze: the clear-cut guide to business plans is a user-friendly guide to creating your business plan. Combining detailed information with practical exercises, you’ll learn how to produce a business plan that will impress your bank manager and give you an idea of where your business is going. Designed for both start-ups and established businesses, this jargon-free guide to developing a business plan even includes a comprehensive glossary of all the confusing terms you hear from bank managers, marketers and business advisors. When you buy Out of the maze: the clear-cut guide to business plans you don’t just get an information-rich ebook. You also receive checklists, budget sheets, a self-calculating cashflow forecast and lots more, as well as a detailed list of all the questions you need to consider to give your business the greatest chance of success. Out of the maze: the clear-cut guide to business plans gives you the tools you need to complete your business plan. It explains the process of developing a business plan in simple, plain English, every step of the way.
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Categories: Loan Products Tags: Business, businesses, clearcut, Guide, Maze, plans, Price
The Bank Analyst’s Handbook: Money, Risk and Conjuring Tricks
The Bank Analyst’s Handbook: Money, Risk and Conjuring Tricks
It is not uncommon to meet professionals in financial services who have only a vague idea of what their colleagues actually do. The root cause is specialization and the subsequent development of jargon that makes communication between common specialists faster and more precise but is virtually impenetrable to everybody else.
The Bank Analyst’s Handbook provides a modern introduction to financial markets and intermediation. Individual subject areas are covered in a thorough but clear and succinct manner. The breadth of the author’s experience as a sell-side bank analyst is exploited to good effect to pull together these threads and create a coherent framework for the analysis of financial markets, whether these are in advanced economies or developing markets.
The Handbook is well-written and highly accessible. It builds on orthodox financial theory (with all of its flaws and controversies) but also highlights many of the real problems involved with translating such theory into practice. It can be appreciated at many different levels and this explains its wide target readership. The Bank Analyst’s Handbook:
- Bridges the gap between the more superficial introductory books and specialist works
- Covers all the important functions and subjects related to the financial services industry
- Provides a comprehensive overview for financial services professionals, business school students, consultants, accountants, auditors and legal practitioners, analysts and fund-managers and corporate managers.
“An excellent guide for any professionals who are coming into the banking industry. Extremely well-written, covering clearly and lucidly a range of topics which many bankers themselves don’t understand. I will make this book mandatory reading – no, make that studying – for anybody I hire to work as a financial sector consultant.”
—Chris Matten, Executive Director, PricewaterhouseCoopers
“A great insight into the often murky and impenetrable world of banking… compulsory reading for analysts and investors alike.”
—Hugh Young, Managing Director, Aberdeen Asset Management Asia Ltd
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Corporate Finance (with Thomson ONE – Business School Edition) (Available Titles Cengagenow)
Corporate Finance (with Thomson ONE – Business School Edition) (Available Titles Cengagenow)
- CD WITH TESTBANK QUESTIONS AND ANSWERS.
- NEVER USED ACCESS CODES
Focus on the financial concepts, skills, and technological applications that are most critical for MBA students in today’s workplace with Ehrhardt/Brigham’s CORPORATE FINANCE: A FOCUSED APPROACH, 4E. This lean text provides an in-depth treatment of all topics essential to corporate finance within a streamlined presentation that you can complete in a single semester. Your students review the latest financial developments — from the collapse of the sub-prime mortgage market to the financial and global economic crisis — as this edition shows them how to maximize a firm’s value in today’s changed world. Numerous recent examples illustrate the relevance of what students are learning, while Excel Tool Kits, “Build a Model” problems, and Mini-Case Spreadsheets help students master the many functions of Excel. Students even gain hands-on experience with the same tool Wall Street professionals use daily with new Thomson ONE-Business School Edition problems. Trust this book’s concise, focused presentation to clearly demonstrate how and why corporations make specific financial decisions.
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Categories: Loan Products Tags: Available, Business, Cengagenow, Corporate, Edition, Excel Tool Kits, Finance, firm, Mini Case Spreadsheets, Price, School, Thomson, Titles, today
The Wealth Choice: Success Secrets of Black Millionaires Reviews
The Wealth Choice: Success Secrets of Black Millionaires
It’s no secret that these hard times have been even harder for the Black community.
Approximately 35 percent of African Americans had no measurable assets in 2009, and 24 percent of these same households had only a motor vehicle. Dennis Kimbro, observing how the weight of the continuing housing and credit crises disproportionately impacts the African-American community, takes a sharp look at a carefully cultivated group of individuals who’ve scaled the heights of success and how others can emulate them. Based on a seven year study of 1,000 of the wealthiest African Americans, The Wealth Choice offers a trove of sound and surprising advice about climbing the economic ladder, even when the odds seem stacked against you. Readers will learn about how business leaders, entrepreneurs, and celebrities like Bob Johnson, Spike Lee, L. A. Reid, Herman Cain, T. D. Jakes and Tyrese Gibson found their paths to wealth; what they did or didn’t learn about money early on; what they had to sacrifice to get to the top; and the role of discipline in managing their success. Through these stories, which include men and women at every stage of life and in every industry, Dennis Kimbro shows readers how to:
· Develop a wealth-generating mindset and habits
· Commit to lifelong learning
· Craft goals that match your passion
· Make short-term sacrifices for long-term gain
· Take calculated risks when opportunity presents itself
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Categories: Loan Products Tags: African Americans, Black, choice, Dennis Kimbro, Millionaires, percent, Price, Reviews, Secrets, Success, term, Wealth
Quick Ways To Make Money: Eight Fast and Easy Ways To Put Cash in Your Bank Account This Week
Quick Ways To Make Money: Eight Fast and Easy Ways To Put Cash in Your Bank Account This Week
WHY CHOOSE THIS BOOK?
If you need to make money fast, this book will put you on the right track. Discover some simple ways to make real money in the next seven days. Don’t make do without enough money..get all the cash you need now.
RAVE REVIEWS
“Cool! Some awesome ideas in here that I intend to put into practice right away. This is the kind of stuff you can get on with easily and without any effort.”
“Overall a useful report that gives you some concise yet clearly effective information you can use to make some extra cash in a hurry.”
WHAT’S INSIDE?
In this report, you will find a useful guide to easy ways of making money from home, without investing a fortune.
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Factoring: Sell Your Invoices Today, Get Cash Tomorrow: How to Get Unlimited Funds without a Loan
Factoring: Sell Your Invoices Today, Get Cash Tomorrow: How to Get Unlimited Funds without a Loan
Can Factoring Help My Business?
Factoring is unknown to many business owners, misunderstood by some, and often available to those who cannot obtain a small business loan from a bank, the SBA, or anywhere else.
Factoring is an alternative means of business financing rapidly increasing in popularity, though it has been in existence for centuries. It is not a loan which create a debt on your balance sheet you must repay. Nor is it venture capital, which requires you to give up ownership in your company. Rather, factoring is the sale of an asset: your accounts receivable. That is, without having to pay back a bank or lose control of your company, you sell your invoices to a factor to obtain immediate cash.
The process is repeated as often as you wish ? without the need to re-apply each time ? thereby providing steady cash flow that is limited only by your sales. Your factor is paid back by your customers; so as long as you factor steady (but slower), dependable-paying customers, you have no debt to repay and very predictable cash flow. While factoring?s cost is higher than traditional bank loans, its flexibility offers several advantages that can both stabilize and steadily grow your business.
Factoring: Sell Your Invoices Today, Get Cash Tomorrow explains everything you want to know about factoring your receivables, including:
? Types of businesses that qualify and the requirements to be approved.
? Why many companies turned down by banks are accepted by factors.
? What to expect in the application process and its speed compared to bank loans.
? Common factoring procedures and why they are utilized.
? How to inform your customers you are factoring in a way that strengthens your business.
? A flowchart of the pre-funding steps, plus another of a normal factoring transaction from start to finish.
Who Is Jeff Callender?
Jeff Callender entered the factoring world in 1994 as a broker, then soon began buying receivables of very small companies. For two decades he has helped numerous small business owners and funded hundreds of small companies. He has written multiple books, ebooks, and articles, and spoken often at industry events. Many factoring companies list his materials as required reading for new staff.
In addition to this title, Jeff has written three ebooks for small business owners who want to learn more about factoring their receivables:
? Top 10 Quotes on the Benefits of Factoring.
? Top 10 Misconceptions about Factoring.
? Top 10 Questions to Ask When Looking for a Factor.
All three are available from the Kindle Store.
From the Author?
I have enjoyed working with small companies for many years now. I?ve seen innumerable business owners, prior to factoring, struggle to stabilize their cash flow, meet payroll, and grow their business. Far too many find these normal business requirements painfully difficult because they simply have to wait to get paid by their customers. While employees? paychecks and regular bills must be paid on time, they have to wait weeks or months for their customers? payments to finally arrive. Talk about stressful!
Factoring solves this problem. I have seen one business owner after another get on their feet and enjoy steady growth because they factor their invoices. When used properly, this is a remarkable tool that not only works, but works extremely well.
I have written this book so that:
1. The thousands ? millions! ? of small business owners needing steady cash flow can learn about this financial tool.
2. They can determine if factoring will benefit their companies; it can help a great many, but not every last one.
3. They have guidance finding the best factor to meet their unique needs.
This book does all three.
-Jeff Callender
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The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family’s Financial Health
The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family’s Financial Health
Get out of debt and stay out with the help of Dave Ramsey, recently seen by millions of Today Show viewers. His practical regimen, first set forth by The Financial Peace Planner, which will be published by Penguin in January 1998. Loaded with inspirational insights that come from personal experience, this set of books is the most valuable purchase a debt-ridden reader can make.
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Categories: Loan Products Tags: Family's, Financial, Guide, health, January, Peace, Planner, Price, published, Restoring, StepbyStep, Today Show
Accounting Workbook For Dummies
Accounting Workbook For Dummies
Balance the books — without all the headaches!
Trying to get certified and become an accountant? Own a small business but need a little help balancing your books? Don’t worry! This hands-on guide provides the learning and vital practice you need to master important accounting concepts and basics. Perfect as a companion workbook for Accounting For Dummies — or any other accounting textbook — Accounting Workbook For Dummies gives you a wealth of real-world examples, demonstration problems, and handy exercises. With this helpful resource as your guide, you’ll master balance sheets, income statements, and budgets in no time!
100s of Problems!
* Record transactions, track costs, and manage accounts
* Open and close bookkeeping cycles
* Analyze business performance and profit
* Choose the right accounting method
* Master investment accounting fundamentals
* Understand manufacturing cost accounting
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Categories: Loan Products Tags: Accounting, cost, Dummies, perfect, Price, Trying, Workbook
Credit Card Nation: The Consequences of America’s Addiction to Credit
Credit Card Nation: The Consequences of America’s Addiction to Credit
Credit-card debt is choking American prosperity off at the neck. In Credit Card Nation, Robert D. Manning tells a fascinating story about the present and future consequences of credit dependence across all strata of U.S. society. Through extensive interviews with consumers, Manning talks to debtors, and to average Americans, affected by what Manning describes as our “credit card nation”: an American juggernaut of indebtedness that spans personal, corporate, and governmental debt.
No interest for one year! No annual fee! No minimum payments for six months! And, if you want to believe Robert Manning, there’s no way out of the debt that we find ourselves in, as individuals and as a country. Credit Card Nation combines debt of every kind–consumer, corporate, and governmental–and creates a vast landscape of profit-spewing lenders and struggling debtors present at every level of economics. Appalling statistics set readers off on a depressing journey: the years between 1980 and 1994 saw annual consumer charges skyrocket from 0 billion to 1 billion, with the average household carrying over ,000 in revolving debt. Accompanied by the erasure of nearly 0 billion in corporate debt and tremendous tax cuts for ever-merging conglomerates, the end of the 20th century seems to be just the beginning of an overwhelming cycle. While Manning’s book is extensively researched, it is also extremely readable. Individual stories of junk bondsmen, corporate raiders, and middle-class consumers are threaded throughout the pages of charts and statistics, with a few surprises. While most media would have us believe that students who rack up charge accounts are totally irresponsible, the reality is that some of these students are helping their families with cash-advance loans to make mortgage or insurance payments. Emphasis is also placed on the tremendous advertising budgets of credit card companies: Manning comments on “how quickly the cultural norms have changed in the Credit Card Nation,” we see a poster insisting “money can’t buy you love, but a credit card can get you started.” This is not a self-help book, and Manning has no 12-step program for debtors at any level. Credit Card Nation simply tells it as it is. –Jill Lightner
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Categories: Loan Products Tags: Addiction, America's, Card., Consequences, Credit, Credit Card Nation, Nation, payments, Price