NorCalUrban

Panelists: Jack Litzenburg (Charles Stewart Mott Foundation), Terry Bell (Rockwell Fund), Tracy Kartye (Anne E. Casey Foundation) Comments from Jack Litzenburg Mott Foundation - national funder - Early entry into the ME market - Helped build equity in early ME funds - Documented lessons in ME - Today the foundation has turned it's attention to: Started ME Funders Group operated through the Aspen Institute. See document created to educate funders. They created a series of funder guides Funded "Micro Test" collects data to identify best practices Building scale in US M.E. Interested to see what the impact of building scale is on the community / organizations - Tomorrow? Micro Enterprise Leadership Academy Develop entrepreneurial network for entrepreneurs Cost of money is a big deal in the emerging world. In our economy the major hurdle is getting to market, competing with the big guys. Ex. creation of brand name speciality foods from Appalachia that helps bring products to ...

- ME has both direct and indirect impact on the overall economy. - It also reduces the reliance on the social systems (welfare, food stamps..) - Positive effects on families. Children see their parents succeeding (dignity building). Has inter generational affects. - Micro finance enables creativity on a local and personal level - 'Micro Equity' products are now emerging - ME lending is a 'wrap around' process including basic financial literacy training, etc... - Hear beyond the need for a loan. - "Grow' loans. Start small with clients, help them step up to larger loans. - Develop network of business owners. This can protect the investments by mutually growing businesses. Micro Equity Product: VC usually don't go down to ME lending Identify individually already in portfolio who have potently Specifically picking individuals Education about VC is part of the process pros and cons of VC money Accion NM founded LLC to capitalize loan fund: EQ2 products end up a...