The Merits of Specialized Microfinance Instruments and Their Feasibility in Alleviating Poverty in Albany-Dougherty County, Georgia

Abstract

Albany-Dougherty County, Georgia has poverty-related indexes that include unemployment and economic disparity. The high unemployment and deteriorating economic climate can be traced to an exodus of major manufacturing employers. Public health issues and educational services continue to decline. These proxies of misery must be addressed by a contemporary mix of market related factors of financing and entrepreneurial enthusiasm. This research addresses the ever increasing poverty and related challenges on the road to prosperity. Secondly, this exploratory study highlights the relevance of a mix of micro-financing instruments that could assist the community to engage market-based economic activities that could enhance economic profiles. Based on the data collected with a survey instrument, the study highlights an apparent reluctance of concessionary financial institutions to lend.