Treasury Secretary Robert E. Rubin announced an awards program for outstanding microenterprise lenders.
President Clinton will present the awards this fall to recognize exemplary lenders in four categories, said Mr. Rubin, who appeared Thursday with Hillary Rodham Clinton, the First Lady, in a videotaped address before the Association for Enterprise Opportunity.
Microenterprise lenders generally make uncollateralized loans that range in value from $100 to $2,000.
The administration will recognize programs that were innovative, increased access to credit, developed entrepreneurial skills, and alleviated poverty, Mr. Rubin said. The awards do not include cash prizes, he added.
"In rewarding the best in the country, the awards program will disseminate information to others about best practices, helping to advance microenterprise development more generally," Mr. Rubin said.