Small loans, big dreams : how Nobel peace prize winner Muhammad Yunus and microfinance are changing the world

Microfinancing is considered one of the most effective strategies in the fight against global poverty. And now, in Small Loans, Big Changes, author Alex Counts reveals how Nobel Prize Winner Muhammad Yunus revolutionized global antipoverty efforts through the development of this approach. This book presents compelling stories of women benefiting from Yunus’s microcredit in rural Bangladesh and urban Chicago, and recounts the experiences of different borrowers in each country, interspersing them with stories of Yunus, his colleagues, and their counterparts in Chicago.

Praise for Small Loans, Big Dreams

"I was enthralled to see the difference a few dollars loaned with no collateral in Bangladesh could benefit and change Chicago's poorest of the poor. I learned how pennies defeated myths about the poor. This book will renew your belief in the American dream and show that there can be economic liberty and justice for all—here AND abroad! This story must be told and retold—and then updated again as the successes pour in. Please keep fast-forwarding!"
—MIKE ENZI, U.S. Senator, Wyoming

"Counts moves past facts and figures to show the human side—and human cost — of poverty. By focusing on the experiences of individual women, Counts demonstrates the power of microfinance to bring opportunity where it otherwise would not exist, and ultimately transform people's lives. I am pleased to be able to support Grameen, as I believe its important work addresses one of the critical issues of our time."
—Pierre Omidyar, founder and Chairman, eBay, cofounder and founding partner, Omidyar Network

"Microfinance is the most effective and noble tool for combating poverty. It builds on the strengths rather than the perceived weaknesses of poor communities. In this memorable book, Alex Counts tells of working with Nobel Prize winner Muhammad Yunus, the pioneer of the movement, and he illustrates his analysis with fascinating and inspiring tales of how the process has worked."
—WALTER ISAACSON, President, The Aspen Institute

"In Small Loans, Big Dreams, Alex Counts humanizes, through deft storytelling and solid analysis, the borrowers as well as the leaders of the microfinance movement. The 2006 Nobel Peace Prize broadened the awareness of microfinance and Grameen. This book deepens ones understanding of this emerging industry, and lets the reader see that it is about not just transactions, but transformations—of people and of entire economies."
—PAUL MARITZ, former senior vice president, Microsoft Corporation

"Small Loans, Big Dreams provides a powerful and poignant glimpse into the real world of microfinance. From the well-told stories, we learn that the success of Grameen and microfinance is not just having innovative business models nor good intentions. Rather, it is organizations' and people's willingness and ability to touch the lives of individuals—to hear their stories, to understand their needs and aspirations, and to provide them with an opportunity to improve their own livelihood that makes the Grameen model and similar programs such a successful poverty-alleviation tool."
—MARGE MAGNER, founder and Managing partner, Brysam Global Partners

"At a time when 'change' is the watchword, here is a story of the devotion and tenacity it takes to turn a powerful idea into a powerful reality."
—JANET McKINLEY, retired chair, The Income Fund of America, Inc.

Micro-financing is considered one of the most effective strategies in the fight against global poverty. It can be implemented on the massive scale necessary to respond to the urgent needs of the world's poorest. And now, in this book, the author looks at the lives of micro-lending borrowers from the Grameen Foundation in Bangladesh and Chicago. All of the borrowers profiled here are women of little-to-no means, each struggling to gain financial independence. Readers will discover how, in Bangladesh, these women face off against very poor living conditions and the prejudice of men, while in Chicago, they must overcome crime and other hurdles that come with life in the inner city. A comprehensive look at the concept of micro-financing, it reveals how Muhammad Yunus and his concept of micro-financing has helped those living in poverty achieve real financial independence Muhammad Yunus -from Vanderbilt to Chittagong The birth of the Grameen Bank Zianpur Bazaar Las Papillons Amena Begum's dream Omiyale Dupart The Haldar Para The Maxwell Street market Krishna Das Bala The hip hop shop Dry money in a monsoon The black on black love festival The sixteen decisions "We're here for you".