wow Andy, this looks great! Si se puede!
15 commentsThings are moving quickly on the microfinance initiative I’ve been working on with a team of Brown students since June. We--the Capital Good Fund--have just completed the business plan. Between now and February 1 (when our pilot phase of 10 loans begins) we need to raise another $15,000, and iron out some of the details of our operations and loan provision. However, I feel very happy about our progress thus far. Below is the Executive Summary of our business plan which, in two pages, outlines our programs, comparative advantage, and plans for future growth. Comments are welcome and appreciated!
Executive Summary
The Capital Good Fund (CGF or The Fund) is a microfinance organization initiated by Brown University students and supported by several local community partners. The Fund will provide affordable microloans, access to bank accounts, credit building, business and financial literacy training and other support to low-income residents of Providence, Rhode Island who seek capital for income generating activities. CGF is inspired by the success of micro finance institutions (MFIs) around the world, in particular the Grameen Bank in Bangladesh, the founder of which--Muhammad Yunus--won the Nobel Peace Prize in 2006. CGF is predicated on the belief that access to affordable capital can play a critical role in unleashing the entrepreneurial capacity of the poor, thereby raising each borrower’s standard of living and bettering the community in which he/she lives.
wow Andy, this looks great! Si se puede!
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2009 just may the year of payday loans, or at least the dawn of the age of them. Our financial operating system has entered a credit freeze, a liquidity Ice Age like what killed off the Jurassic Age dinosaurs and then killed off the mastodon. The collapse of the normal credit sources, or at least the choking lack of availability, has created a definitive need for an alternative, and payday loans seem to be the ticket people are looking for. Read more at the payday loans blog.
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