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In recent years microcredit has grown rapidly based on its promise to alleviate poverty and empower women. However, as the microcredit industry has grown, the initial emphasis on poverty alleviation and empowerment has changed; some critics argue that the industry now looks like commercial finance. This article explores these criticisms by comparing two microcredit programs in Chennai, India. Both programs work with the same population but take different approaches to credit delivery. Drawing from the participants' testimonies, the findings suggest that in general, the loans do not permanently move participants out of poverty; however, they do reduce some of the vulnerabilities associated with poverty.

The phenomenon of cities facing dramatic population loss, the so-called 'shrinking city', offers new challenges for urban scholars. After decades of focusing on growth, geographers, planners, politicians, and others are now confronted with cities and regions that are not just losing people, but often also facing economic and social transformation. As an area of study, we are in the beginning stages of theorizing new urban futures for these cities, as well as developing local planning responses to them. JEL classification: N9, N3, O2, O1

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