Communities seek to offer effective financing programs to encourage entrepreneurs and support the growth of microenterprises. Community economic development strategies have changed in recent years from traditional industrial recruitment to microenterprise development (MED), which is considered to be as a more viable, long-term strategy to create jobs and grow local economies. This article provides a framework for an effective microenterprise financing program based on the model created by a rural community in Ohio and offers suggestions as to how this framework may be used by researchers and practitioners to identify best practices in the microenterprise financing realm.
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Bowen-Ellzey, N., Moss, M., & Blaine, T. W. (2015). Creating a Model for Successful Microenterprise Development (MED) Programs. The Journal of Extension, 53(1), Article 5. https://tigerprints.clemson.edu/joe/vol53/iss1/5