RedTracker| Goodness know, we want more women in politics. But in the case of Meg Whitman’s $175 million investment in her unsuccessful bid to become governor of California, we wish that Whitman would have been inspired to create a women’s microloan program like Grameen’s for poor women in California.
At a time when American women are desperate for entrepreneurial guidance and financial backing, Whitman could have used her Republican money — not for handouts — but to finance small businesswomen and at a profit. (Note: critics of microfinance in America say the administrative costs are too high for each loan.)
Luckily for some poor women in Queens and Omaha, Pakistani Muslim Dr. Muhammad Yunus’s Grameen Fund is loaning to American women — $9 million to 4,000-plus micro-entrepreneurs since 2008. New offices are opening in San Francisco and Indianapolis. Dr. Yunus says he stands ready to help companies who want to work in microfinance, as long as they have acceptable ethics and a profit ceiling that he establishes as fair. Perhaps Meg Whitman has some extra cash lying around.