Micro Enterprise Summit Breakout - Local Impacts of Micro Lending

- 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 as debt
For profit LLC finds investments to consolidate (need to do more investigation on this, check with Anne from Accion New Mexico)

Loan processing - are underwriting policies compatible?

Accion looks at character. As loans increase greater standards are in place.

Competition - you will never beat Wal Mart, Starbucks... However service, creativity, etc... there is an opportunity for niche markets.

When casting vision, talk about real people... not just numbers...

Comments

YWAMers Praised for Faith and Leadership

The Denver Post reports on the memorial service at the Denver YWAM base: "We're going to celebrate a life, we're not accentuating a death," said Faith Bible Chapel pastor George Morrison, in opening a memorial service today for two people killed at a missionary training school in Arvada . The service is called "A Celebration of Life for Tiffany and Philip." Philip Crouse and Tiffany Johnson died Sunday when a gunman opened fire at the school's dormitory. Youth With a Mission director Peter Warren said today both Crouse and Johnson embodied the spirit of the group. First the service focused on Crouse . "Phil gave his life to Jesus Christ and was never the same again," said Zach, a friend of Johnson's who met him years ago at a youth ministry in Alaska. At the time, Crouse was tough and wouldn't let people get close to him. "Over the years, Phil became a humble, teachable, sweet guy" who was able to reach kids with rough e

Non Profit Payday Loans?

Here's a recent New York Times article sent to me from Katie at NCHM on payday lending. I know that the NCUD / CTCU-EPA partnership is going to have to create the right program addressing the needs for short term lending for low income families. We don't have the answers yet, but it's definitely on our radar. APPLETON, Wis. — This city of 70,000 has five McDonald’s franchises, three Pizza Huts, four Starbucks shops — and 19 payday loan stores, brightly lighted storefronts with names like EZ Money and Check Into Cash that offer two-week loans without credit checks. Peggy Truckey, 53, knows the allure. Last year she owed nearly $1,300 to four of those stores, and was paying about $600 a month in finance fees alone. “I thought I was going to have to take a second job just to pay off the interest,” Ms. Truckey said. Then she heard about a new nonprofit program operated out of a Goodwill thrift store, one of several hundred lower-cost payday loan products that are now bein

Samuel Liotti TV Interview about Obama's Nomination

Check this out this link! Samuel, his best friend Malik and other students at East Palo Alto Academy were interviewed on TV where they were asked about their views on Obama. The students has some interesting and revealing comments. With all the politics, it may be easy for some to overlook the significance and importance of the first truly viable African-American candidate for president. Obama's nomination to especially many young people in our community speaks volumes about who they are and what they can become. This is an exciting and important time in our history. Please join me in praying for both our candidates, but especially Obama. I've felt impressed that I should pray specifically for his safety during the next months. Follow the link and check out the interview! What about you? How significant do you feel is Obama's nomination?

NorCalUrban

Search This Blog