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Linda Peng - August 2010

STUDENTS AND U.S. MICROFINANCE: APPENDICES I. Student Microfinance Initiatives in the U.S. - Activity Snapshots SNAPSHOT – Students as Service Providers to Local Entrepreneurs School

Status

Services

The Intersect Fund New Brunswick, NJ (Rutgers University)

501(c)(3), recent grad fulltime staff, supported by undergraduate and graduate students

Loans between $500 and $5000 (0% default rate so far), business training course, one-on-one mentorship with a MicroMentor professional, Quickbooks training, free business tax preparation (for those earning less than $50,000 a year), graphic and website design, semi-annual gala for clients and community partners, access to a computer lab

The Elmseed Enterprise Fund New Haven, CT (Yale University)

501(c)(3), one summer manager continued Elmseed activities for the first time over the summer in 2010, run by Yale undergraduates

Loans of $2000 (12% default rate so far), business training class (English and Spanish), one-on-one consulting, business plan writing program

Big Red Microcapital (BRM) Johnston County, NY (Cornell Business School)

Graduate student organization under the Johnson School Center for Sustainable Global Enterprise at Cornell University

One-on-one coaching, loans from $5000 to $15,000

CHOMI Deland, FL (Stetson University)

Stetson University class taught by two faculty members; program (a component of the class) is executed by Stetson students

Workshops on business plan construction (integrated with class), loans of $1000 to $4000

Capital Good Fund New Providence, RI (Brown University)

501(c)(3), recent grad fulltime staff, Americorps staff, and Brown undergraduates

Business loans between $1000 and $5000 (1 loan default of 40 total), immigration loans of $875, and green loans of $200. Also offers

Students and U.S. Microfinance: Final Report APPENDICES


Linda Peng - August 2010 business basics workshop. Notre Dame Microfinance Initiative South Bend, Indiana (Notre Dame University)

Notre Dame undergraduates working in conjunction with a faculty-taught program under the Mendoza College of Business.

Business training workshops (to launch Fall 2010), faculty-advised student consulting teams

Community Empowerment Fund Orange County and Durham, NC (University of North Carolina)

501(c)(3), recent grad fulltime staff, undergraduates

6-week business training course, 10-week savings program, microloans, one-on-one coaching

Cambridge Microfinance Initiative Boston, MA (Harvard University)

Harvard undergraduates

Small business training and networking conference

SNAPSHOT – Students as Fund Raisers School MicrOlin (University of Washington at St. Louis) Gumball Capital (Stanford University) University of St. Thomas MicroCredit Program (University of St. Thomas) Goizeta Microfinance Club and Fund (Emory Business School) $2 Day Challenge Microfinance Abroad (Various Schools) Princeton Microfinance Organization OWL Microfinance (Rice University)

Impact Received $300 unsolicited donation from a fraternity; planning to use all funds towards loans Raised over $20,000 since its founding in 2007; current Executive Director now participating in a 7-continent marathon run to raise $125,000 Distributed $13,275.00 in loans on Kiva since founding in Fall 2007 Invested $40,000 in its first year in a loan fund to IMPRO University of Mary Washington raised more than $6,750 for La Ceiba the first year for Challenge week. Other schools’ successes are not reported. Raised $2000 to for FINCA to establish a village bank Honored at the Clinton Global Initiative in 2009 for initiatives to support microfinance; goal of raising $10,000 reached the first year. Lends primarily on KIVA and Wokai.

SNAPSHOT – Students Supporting Microentrepreneurs Abroad School Activities GLOBE Lending and consulting. Each team has a liasion

Students and U.S. Microfinance: Final Report APPENDICES


Linda Peng - August 2010 Daughters of Charity – various countries (St. John’s University)

Global Microfinance Brigades Various locations in Honduras (Chapman University, University of Southern Cailfornia… TBC) Microcredit Program at University of St. Thomas KIVA clients – various countries; expanding locally (University of St. Thomas) Students 4 Sustainability (George Washington University) La Ceiba Honduras (University of Mary Washington) The Zambia Project (Messiah College)

Examples of School s that have hosted conferences on campus:  Princeton Microfinance Organization  Duke University Microfinance Leadership Initiative  University of Pennsylvania Microfinance Club  SEED (UVA)  Trockman Microfinance Initiative (Indiana University)

person that communicates with a representative of the Daughters of Charity, GLOBE’s field partners, who operate in over 90 countries in the world, some 76 of which are classified as developing countries. Has raised over $60,000 since its founding in Spring 2009. 7 days spent learning about the community, investing funds into the community, and training local inhabitants on each trip. Funds invested in the two projects so far: $800 and $1600. Lending, Consulting. Already operating in Yucatan, Pakistan, Chile, and Turkey. Exploring domestic program launches in New Orleans and New Mexico. Selling merchandise made by entrepreneurs abroad on campus Selling handbags and pouches from women entrepreneurs in Honduras, lending, consulting Started two credit and savings associations in Zambia.

Examples of invited speakers:

          

CGAP representatives FINCA representatives Morgan Stanley representatives Pro Mujer representatives Self-Help representatives ACCION International representatives Microcredit Summit Campaign BRAC USA founder KIVA founder Jessica Jackley Acumen Fund founder Ashoka fellows

Students and U.S. Microfinance: Final Report APPENDICES


Linda Peng - August 2010

II. Student Microfinance Initiatives in the U.S. - Master List Key Green background: Blue background: Red background: Orange background:

Recently launched organization Primarily faculty-guided student initiatives Founders have stayed within the organization and/or hired full-time staff Primarily graduate school student led

A. Student Microfinance Organizations I interviewed Organization & University Affiliation

Geographic Focus

Lending

One-onone Consulting

Business Training Workshops

Full-Time Staff

Events On Campus

Earned Income (not fundraising)

BR Microcapital (Cornell Business School) Cambridge Microfinance Initiative (Harvard) Capital Good Fund (Brown)

Johnston County, NY

Yes

Yes

No

No

Yes

No

Boston, MA

No

Yes

Yes

No

Yes

No

Providence, RI

Yes

Yes

Yes

Founders Yes and Americorps staff

Community Empowerment Fund (UNC) CHOMI (Center for Holistic Microcredit Initiatives), Stetson University Elmseed Fund (Yale)

Chapel Hill and Durham, NC Spring Hill, FL

Yes

Yes

Yes

Founders

Yes

No

Yes

Yes – faculty

New Haven, CT

Yes

Yes

Yes

No

Yes

Elon Microfinance Initiative (Elon) GLOBE (St. John’s University)

Everywhere

No

No

No

No

Potentia lly

International

Yes – Daughte rs of

No

No

Yes – faculty

Yes

Students and U.S. Microfinance: Final Report APPENDICES

Yes (fundrai sing) Yes – two faculty advisors

Yes – $25 business training class entrance fee No

No

Yes - $30 initial membership fee No

No


Linda Peng - August 2010 Organization & University Affiliation

Geographic Focus

Lending

La Ceiba (College of William and Mary and University of Mary Washington) MicrOlin (Washington University in St. Louis) Notre Dame Microfinance Club SEED (University of Virginia) The Intersect Fund (Rutgers)

Honduras

Charity (MFO) Yes

University of St. Thomas Micro-Credit Program

One-onone Consulting

Business Training Workshops

Full-Time Staff

Events On Campus

Earned Income (not fundraising)

Yes

Yes

Faculty

Yes

No

Everywhere

Yes – Kiva

No

No

No

Yes

No

South Bend, IN

Eventua lly

No

Yes

Faculty

Yes

No

Everywhere

No

Yes

NGO Consulting

No

Yes

No

New Jersey

Yes

Yes

Yes

Yes – founders and hired staff

Yes

New Orleans, Turkey, Pakistan, Chile, Yucatan, Turkey

YesKiva and other partners

No

No

Yes Faculty

Yes

Yes – different postgraduation services No

B. Other Sources I interviewed Organization Individual(s) MBA Program Professor Small business (Grocery Store)

Manager

UC San Diego School of Business

Alumnus 1

Description Skeptical of undergraduate savvy with business and capacity for completing quality consulting projects Gave input on how students could help small businesses and non-profits the most. “Volunteering to create the flyers and use Google maps to sketch out a flyering route” => often more useful than writing a business plan or creating marketing plans that talk about the need to flyer Input on business plan writing and value of business degree

Students and U.S. Microfinance: Final Report APPENDICES


Linda Peng - August 2010 UC San Diego School of Business Campus Kiva*

Alumnus 2

MBA grad with interest in microfinance

Campus Kiva Interns

Gumball Capital*

Current President

Two-Dollar Challenge*

Founder

Catchafire.org*

CEO/Founder

MoreMarbles.com*

CEO/Founder

Campus Kiva has over 50 university groups lending on KIVA. We are in talks to put a blurb about ACCION USA’s student partnership program on the Campus Kiva website (under “Partners”). The Gumball Challenge teaches students entrepreneurship by challenging them to invent creative ways to fundraise for microfinance organizations. Students entering the one-week challenge are given small microloans. Dr. Sean Humphrey is also the faculty advisor of La Ceiba at the University of Mary Washington. Volunteer-non-profit connection site for professionals founded by a former Goldman Sachs investment banker. Piloted in 2010; currently open to only nonprofits in the NY region. ACCION USA can benefit from volunteer professionals with real expertise in logo design, publicity campaigns, and creating marketing plans. Founded by recent MBA grad and former staff member at Opportunity Fund. MoreMarbles connects university consulting teams (with a faculty advisor) to small businesses or non-profits. Projects typically last a semester, and small businesses or non-profits pay $500 minimum to connect to the students. Interviewed staff member about meeting with University of Chicago undergraduates who wanted to volunteer to do some field work with ACCION Chicago

ACCION Chicago

* Potential partner organizations for ACCION USA’s Student Program

C. Other Student Organizations (Websites Online) Organization & University Affiliation

Geographic Focus

Lending

Bentley College

Waltham, MA Bolivia, Nicaragua Everywhere

Yes

Boston College Bucknell University Carleton College Carolina Microfinance

Everywhere Not Sure

One-onone Consulting

Business Training Workshops

Full-Time Staff

Events On Campus

Earned Income (not fundraising)

Yes

Not Sure

Not Sure

No

No

No

No

Not Sure

Not Sure

Yes Kiva Yes – Kiva Not Sure

No

No

Faculty Advisor Faculty Advisor No

Yes

No

No

No

No

Yes

No

Not Sure

Not Sure

Not Sure

Yes

Not Sure

Students and U.S. Microfinance: Final Report APPENDICES


Linda Peng - August 2010 Organization & University Affiliation

Initiative (UNC) Chapman University

Geographic Focus

Lending

One-onone Consulting

Honduras, Panama

Global Microfin ance Brigades Yes – Kiva Global Microfin ance Brigades No

Chapman University Columbia University

Everywhere

Microfinance Working Group (Columbia University) Davidson College Duke University

N/A

Honduras, Panama

Everywhere India, Uganda

Eastern N/A University (Note: inactive) Goizeta Bolivia Microfinance Club and Fund (Emory Business School) Students 4 Guatemala Sustainability (George Washington University) Hamilton College

Utica, NY

Haverford Microfinance

Mexico, Local

Business Training Workshops

Full-Time Staff

Events On Campus

Earned Income (not fundraising)

Not Sure

No

No

Yes

No

No

No

No

Yes

No

No

No

No

Yes

No

No

No

No

Yes

No

Yes – Kiva Yes – Partnersh ip with Ugandan and Indian MFOs No

No

No

No

Yes

No

Yes

No

No

Yes

No

No

No

No

No

Yes – IMPRO (MFO)

No

No

No

Yes – Conferen ce Yes

No

No

No

No

Yes

Yes – ACCESS Federal Credit Union acts as an advisor Not Sure

Not Sure

Not Sure

Yes – faculty

Not Sure

Social Business – selling international microentrepr eneur goods Not Sure

Yes

Not Sure

No

Yes

Not Sure

Students and U.S. Microfinance: Final Report APPENDICES

No


Linda Peng - August 2010 Organization & University Affiliation

Geographic Focus

Lending

Consulting Club (Haverford College) Trockman Microfinance Initiative (Indiana University)

Community

Everywhere; interest in local MFIs

Yes – Kiva

Lehigh Microfinance Club

Everywhere

Macalester Development Group (Macalester College) Messiah College Microchange (Cornell)

One-onone Consulting

Business Training Workshops

Full-Time Staff

Events On Campus

Earned Income (not fundraising)

No

No

No

Yes

Yes – Kiva

Yes

No

No

Yes – Expo for local businesse s and Conferen ce

Everywhere

Not Sure

No

No

No

Yes – speakers

Social Business – distributing international microentrepr eneur goods Social Business – selling handmade gifts from Ten Thousand Villages No

Zambia Peru

Yes Yes – Kiva

Yes No

No No

No No

Yes Yes

No No

NYU Microfinance Initiative (NYU Stern Business School)

Everywhere

No

No

No

No

No

OWU Student Initiative for International Development (Ohio Wesleyan University) Owl Microfinance (Rice University)

Everywhere (also has good relationship with nearby town) Everywhere

Yes – Kiva

No

No

No

Yes – Microfin ance simulcast and events Yes

No

No

No

Everywhere

No

No

No

Yes – Mr. Asia competiti on fundraise r Yes

No

Point Loma Nazarene University

Yes – Kiva, Wokai, Hashoo Foundati on Yes – Kiva

Students and U.S. Microfinance: Final Report APPENDICES

No

No


Linda Peng - August 2010 Organization & University Affiliation

Geographic Focus

Lending

Princeton University Microfinance Club Seattle Pacific University

Everywhere

Not Sure

Everywhere

Soka University of America

Southern New Hampshire Microenterprise Development Institute Spartan Global Development Fund (Michigan State University) Streetbank (Georgetown) Tufts UC Berkeley Microfinance Simulcast USD Microfinance Club (UC San Diego) UC Santa Cruz

University of Chicago Microfinance Initiative at the University of Houston University of Illinois at UrbanaChampaign

Business Training Workshops

Full-Time Staff

Events On Campus

Earned Income (not fundraising)

No

No

No

Yes

No

Not Sure

No

No

No

No

Everywhere

No

No

No

No

Everywhere

N/A

N/A

N/A

N/A

Yes – Conferen ce Yes club members interested in academic s N/A

Everywhere

Yes – Kiva

No

No

No

Yes

No

D.C. or elsewhere (unsure) International Everywhere

Yes

Yes

No

No

Yes

No

Yes N/A

No N/A

No N/A

No Dr. Sean Foote

Not Sure Yes

Not Sure N/A

Everywhere

Yes

Not Sure

Not Sure

Not Sure

Not Sure

Not Sure

Honduras and Panama

Microfin ance Brigades Yes – Kiva Not Sure

No

No

No

Yes

No

Not Sure

Not Sure

No

Yes

Not Sure

Not Sure

Not Sure

No

Yes

No

Microfin ance Brigades

No

No

No

Yes

No

Everywhere Everywhere

Honduras and Panama

One-onone Consulting

Students and U.S. Microfinance: Final Report APPENDICES

No

N/A


Linda Peng - August 2010 Organization & University Affiliation

Geographic Focus

Lending

University of Minnesota

Everywhere

Not Sure

Maple Microdevelopme nt (University of Oregon) University of Pennsylvania

Uganda, Guatemala

University of WisconsinMadison Vanderbilt University

Business Training Workshops

Full-Time Staff

Events On Campus

Earned Income (not fundraising)

No

No

No

No

No

Yes

Yes

No

Yes – host speakers No

Everywhere

Yes – lending

Potentiall y

Potentially No

No

Not Sure

Not Sure

Not Sure

Not Sure

Not Sure

Yes – 4th Annual Conferen ce just complete d Yes speakers

Kyrgyzstan

Yes

Yes – writing business plans No

No

No

Yes speakers

No

No

Yes – faculty

Yes

No

Not Sure Yes

Not Sure

Not Sure

Not Sure

Not Sure

Not Sure

No

Yes

No

No

Not Sure

No

General Everywhere Development Initiative (Washington and Lee University) Wesleyan Not Sure Global Youth Connection (Wooster College) A Drop in the International Ocean (Harvard University)

Yes – Develo.o rg

One-onone Consulting

Students and U.S. Microfinance: Final Report APPENDICES

No

Not Sure


Appendices - Students and U.S. Microfinance