The beauty behind Wikis--which means “fast” in Hawaiian--is that they are simple to use yet extremely effective at enabling and encouraging collaboration and the sharing of ideas.  I happen to believe that the internet, open-source technology and the proliferation of cell phones has made ours the century of collaborative innovation.  Nothing excites me more than the idea of partnering with other thinkers, tinkerers, teachers and technologists around the world on solving seemingly intractable problems such as poverty and pollution.  If you are of that mold--or if you simply want to have a look around--then you’ve come to the right place!

Here’s how this works. To take part in my Wiki (and I really hope you will!) and work with me towards the creation of a better world, you first need to register (which you can do from the dark green toolbar above).  It’s simple and fast, and once you register you can edit, add and even delete pages.  At the moment, the three main topics on my Wiki are related to my company, my masters thesis and the micro-credit program I’m trying to start in Providence, Rhode Island. But I hope to see members adding pages related to anything from solar water heaters to how to cook tasty meals to tips on bicycle safety!  Feel free to add articles, edit existing ones, and create new categories, resume writing services.

On your left you can see the navigation bar, from which you can look at the various categories and articles that have been created.  Below that you see a list of the active members on here.  Next you see a bar that enables you to search what is on the Wiki, and finally you can do a search for something in particular and, if your search comes up empty, you can then create a new page.

My goal is that we create a thriving community of people here discussing ways of solving real problems.  So, for instance, if you are designing solar water heaters in the slums of Cairo, Egypt, and can’t seem to come up with a way of bringing down the cost of your system, then go ahead and create an article or paper writing services explaining what you’ve done and what you’re challenges are, and hopefully someone will come along that has an answer like a virtual assistant from a private corporate.  Please join and invite your friends to join; we need all the talent, energy and ideas we can get to address poverty, pollution and other global, regional and local problems.  Wikis are a powerful tool and it is my sincere desire that we leverage them for good.

So have a look around, and let’s make the world a better place--together!

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A consequence of this paradigm is that, at least in America, public policy is too often shaped by what benefits corporations rather than individuals; getting corporations to follow the law is time-consuming and expensive, since large companies have a fleet of high-powered attorneys at their beck and call; and only limited inroads have been made on fair trade, environmental sustainability, and other important issues. 

Some companies have embraced the concept of Corporate Social Responsibility (CSR), defined as “a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and society at large.” (source: <a href="http://en.wikipedia.org/wiki/Corporate_social_responsibility">) However, the problem with CSR is that it is only adhered to so long as a company is making a healthy profit; the moment financial difficulties arise, CSR is dropped as “costs are trimmed” and “belts are tightened.”

So, what’s the answer to all this?  Obviously, as essay writers put it, policy makers need to free themselves from the grip of corporate influence, and corporations needs to find better ways to incorporate CSR, the Triple Bottom line, and other approaches into their day-to-day operations.  But I would like to propose another solution: I’ll call it A Conglomerate for Good.

The basic idea is simple: to create a conglomerate (that is, a large organization) whose mission is to maximize social and environmental return on investment.  To put it another way, the bottom line will not be measured by profits, but rather by how effectively the organization invests money--be it from donors or investors--into solving social problems.  And just as McDonalds, Nike and Coca-Cola have extended their reach and influence to every corner of the globe in order to maximize profits, the Conglomerate for Good will touch the lives of as many people as possible in as positive, sustainable and just manner as possible.  The impetus and the visions behind Capital Good Group, is to be just such an organization.

Imagine a company that lobbies congress for stricter laws and enforcement on everything from wages to carbon dioxide emissions.  Imagine a company that treats its workers fairly and with dignity, provides products and services that are restorative and regenerative to ecosystems, safe for consumers, recyclable and serve a real, rather than manufactured, need.  Imagine a company whose reach is global, but whose various branches and subsidiaries understand and respect regional, local and cultural differences. Imagine a company whose profits are reinvested in communities rather than in wealthy investors.  Imagine a company that revolutionizes how wealth is generated and defined.  Imagine.  And then start to bring that dream to fruition.

Think about this: without capital, oil companies can’t drill for oil, but neither can solar panel manufacturers enable us to harness sunlight for clean, just energy. Capital is not the problem.  Muhammad Yunus has shown us that access to capital is an essential tool for helping to rid the world of poverty.  But what we see today is that capital is used to generate more capital, without consideration for what happens in between.  For those that want a secure investment that provides a healthy return and returns health and prosperity to the world, there are very few options.  Yet everyone knows that it takes money--and a lot of it--to finance the energy and social revolutions that we need. After all, we already have the technology to generate clean energy, and the energy of human beings to lift themselves out of poverty is boundless; solving both problems requires innovative investment strategies.

Yet when we put our money into a bank account at Citibank or Bank of America, we have no idea what the bank is doing with our money.  They could be financing a massive damn in Brazil that is displacing native populations, or a coal-fired power plant in China, or a wind-farm in India.  Chances are, however, that we wouldn’t feel very good about what the bank is doing with our money.  Same goes for much of the consumer products we buy: chances are, we wouldn’t be in agreement with the ethics of the company with which we are doing business.

The great thing is that people from all walks of life--conservatives, liberals, and political agnostics--can agree that it would be better to have a just economy.  What’s more, the rise of global problems--poverty, terrorism, climate change, energy wars, to name a few--have highlighted the need for new approaches to emerging challenges.

For all the above reasons Mike and I hope to turn Capital Good Group into a conglomerate for good.  We hope to franchise our models for solving problems in much the same way that McDonalds franchises its model for selling fries and hamburgers.  The idea is to conspire to change the world, to unlock the potential of human beings, to protect the beauty of the natural world, to fight against entrenched interests, and to permit goodness to flourish.  If it sounds lofty, we are keenly aware of that; the fact of the matter is that these are lofty times, and lofty ideas are needed to steer the world in the right direction.

So get involved in this conversation.  We want you to partake in our grand plan!

Category:Business

--Strunk and White, “The Elements of Style”

And thus an American textbook, typical required reading for 10th-grade English students, unknowingly extols some virtues of WabiSabi

--scummings

These guides should not only be practiced in creating a wiki page but also in essay writing.

Green Microfinance: Advancing Social Equality and Environmental Sustainability in the United States

To see all my blog posts related to micro-credit click here

In 2006 Muhammad Yunus won the Nobel Peace Prize for his work as the founder of the Grameen Bank Grameen started out giving tiny loans--known as micro-loans--to the poorest of the poor in Bangladesh.  In so doing, the bank was able to cut out the payday lenders and loan sharks that were charging the poor exorbitant interest and, as a result, the borrowers were able to quickly and permanently lift themselves out of poverty. The assumption, which has been validated by 30 years of astounding results--has always been that the poor don’t lack the energy, drive, talent an skills to get out of poverty; rather, they lack the access to capital and other opportunities to do so.  Micro-credit works because it provides the missing link. 

The concept of micro finance has spread around the world, and is now recognized as an essential tool in the fight against poverty.  Roughly 100 million people have received micro-loans to date, demonstrating the far-reaching impacts of providing access to capital to low-income entrepreneurs.

The challenge that I am issuing here is twofold.  First, I am looking at ways of increasing the effectiveness of microfinance in the U.S., and secondly I am eager to look at how to expand microfinance programs such that they also finance environmental projects, such as weatherization and the installation of solar water heaters.  To that end, myself and several Brown students have begun researching the feasibility of creating a microfinance loan fund in Providence, Rhode Island, a city with one of the nation’s highest poverty rates at 25%.  The goal is to create a program with low operating costs, that can effectively reach low-income residents of the city, provide them with business training and access to capital, and work with them to ensure success.  At present we have raised $7,000 in start-up money for a pilot phase in January, and we are looking for more donors and investors.

I am creating this Wiki page because I am a big believer in the open-source, collaborative approach to problem solving, where the ideas of many people are welcomed and debated in a spirit of openness and honesty.  The goal here is to address poverty in a meaningful and systematic way; any ideas, comments or suggestions towards that end are much appreciated.

There is a tremendous need for CGF’s services in the US in general, and in Providence in particular.  50 million Americans have no credit score and millions more suffer from poor credit, effectively shutting them out of the mainstream financial system.  As a result, America’s poor rely on fringe and predatory financial services such as payday loans, loan sharks and check cashers, which taken together are now a $100 billion industry .  In Providence, a poverty rate of 25% (concentrated among women, children and minorities) and an unemployment rate of 9.3% are forcing families to seek additional streams of revenue through home-based businesses and other related ventures .  CGF’s services will enable low-income Providence residents to
1) start and expand their businesses through affordable loans,
2) access services such as business and financial literacy training,
3) build credit history through successful loan repayments and
4) open bank accounts.

There are currently several hundred MFIs operating in the United States, the majority of which have failed to grow to meet the tremendous demand indicated by the size of the fringe and predatory financial markets.  CGF will differ from these MFIs in several key respects:

--A Strong Network of Community Partners: One of the challenges of attracting borrowers is building trust.  America’s poor are accustomed to predatory practices, be it from the neighborhood loan shark or the local bank offering sub-prime mortgages and loans with hidden fees.  By partnering with some of the most innovative and well-respected community organizations in Providence, including International Institute of Rhode Island, English For Action, Center for Women and Enterprise, The John Hope Settlement House and the Small Business Development Center, CGF is able to overcome the trust barrier.  What’s more, because many clients will come to the Fund via community partners, CGF has a good sense of the borrower’s character before a loan application is even filled out.  Finally, the partners offer services that our clients require to succeed.

--Affordable, Flexible Loans: CGF offers loans at an interest rate of 12-15% on a declining balance (the rate varies by the size and term of the loan).  The rate is significantly lower than what predatory lenders charge, and is in line with what other MFIs charge nationwide.  The standard for repayment is bi-monthly, but the Fund will accommodate clients with unique repayment needs. CGF offers two loan types.  Business loans range from $500-$3,000, and are for the creation or expansion of micro-businesses.  The second type of loan is a legal status loan, which will cover the cost of applying for legal permanent residency or citizenship.  A citizenship loans will be $900 and a legal permanent residency loan will be $2500.  Through focus groups and extensive conversations with community partners, CGF has determined that there is strong demand for both types of loans.

--A “Hybrid” Lending Model:  Traditionally, international MFIs achieve default rates of below 3% by using a group lending model, where borrowers form joint-liability groups in which the group is responsible in the event of a default on the part of any individual.  In other words, the social collateral created by the group creates a tremendous incentive to avoid defaulting on the loan.  However, the group model has had limited success in the US, due in part to a more individualized culture, as well as the logistical and operational challenges of implementing the model.  That said, Grameen America--a direct replication of the Grameen Bank--has successfully made 400 loans in Jackson Heights, New York, demonstrating that, if done properly, the group model can work extremely well.

CGF has elected to implement a “hybrid lending model.” Loan application and dispersal take place on an individual basis.  However, borrowers are required to attend bi-monthly meetings where loan repayments and additional training take place.  These meetings are done in a group setting, and loan repayments are public.  The public nature of the repayments creates an incentive to avoid default.The hybrid model enables CGF to combine the best of individual and group lending.  Social collateral is maintained without sacrificing the relationship between the individual client and the lender.  Finally, CGF believes that the model better prepares its clients for future interactions with traditional financial institutions, which operate on an individualized basis.

--Student Staffing:  Another disadvantage many MFIs have is the high cost of operations and salaries. CGF leverages the creativity, energy and passion of Brown University students to staff the program, enabling it to grow until scale is reached and income can pay for full-time staff.  CGF is developing criteria to ensure that volunteer staff has the requisite skills and commitment to deliver high quality services to the borrowers. 

--Building Credit: After the pilot phase, CGF will begin reporting payments to credit bureaus so that borrowers can build their credit scores.  CGF also has plans to offer credit- building loans, which are small loans specifically designed to improve credit scores and establish a relationship between the borrower and lender.

CGF has received initial grants totaling $10,600, including $5,000 from Brown University, $2,000 from the Clinton Global Initiative, and $3,000 from private donors.  CGF expects to raise $25,000 for the pilot phase beginning in February of 2009 and another $80,000 to conduct a second loan cycle in September of 2009.  These funds will come from foundations such as Ashoka Youth Ventures and the Rhode Island Foundation, institutions such as Brown University, loans, and private donations.

CGF envisions a five year plan with rapid growth. Ideally, the Fund will apply to become a community development credit union, leading to financial stability for the organization and better service provision for the borrowers.  The five-year plan CGF decides on will depend on the success of the pilot phase, the demand for loans, and the amount of capital CGF is able to raise

As the Fund grows in size and scope, there are numerous opportunities for additional products and services.  One area of particular interest is the incorporation of environmental sustainability into each loan.  This can be done in one of three ways: first, by providing loans so borrowers can either start a green/micro or small business or incorporate green practices into their existing businesses. Second, by providing microloans to existing clients so that they can invest in energy (and money) saving measures in the home, such as programmable thermostats and efficient windows.  And third, by connecting clients to existing free and affordable services in Providence--e.g., free energy audits from National Grid--that can help them save money and create a healthier and more comfortable home and work environment.

CGF has already generated a buzz in the community about its programs.  The recent economic downturn and financial crisis have underscored the need for access to affordable capital.  Whereas all of America is currently experiencing a credit crisis, America’s poor are always in the midst of a credit crisis.  As a youthful, innovative, community-oriented and borrower-centric microfinance organization, CGF believes it will serve a critical need in the community, raise the funds and attract the talent it needs to grow, and create a paradigm shift in thinking about the importance of access to equitable financial services.

[[Category:micro-credit]

There are two fundamental components to our vision.  The first is to empower the poor to lift themselves out of poverty by extending affordable capital to them.  The second is to establish a new model for banking in the U.S. wherein the bottom line is as much defined by social equity and environmental sustainability as by financial returns.  Given the tremendous success of Grameen Bank, and the publicity given to micro-credit as a result of Muhammad Yunus receiving the 2006 Nobel Peace Prize for founding Grameen, one would think that micro-credit would have taken off in the U.S. as well. After all, America has a 17% poverty rate, despite being the wealthiest country in the world.  However, our research has indicated that there is not a single U.S. micro-credit initiative that has reached scale, and the largest one only gives out 1,300 loans a year.  All this leaves room for us to innovate and find a way to make micro-finance reach more people more effectively.  What�s more, given the recent turmoil in the financial industry, it is imperative that as a society we consider the philosophical, legal and social underpinnings of our banking system. 

Looking forward, we want to actually create a new model for banking by becoming a Community Development Financial Institution (CDFI) that changes how people think about banks and their impact on society.  CDFI�s work in areas that are underserved by traditional banks, including micro-loans for low-income entrepreneurs, loans for environmentally responsible development, and technical assistance and capital for community facilities.

Mission: 
To extend credit to low income Americans, not conventionally considered credit worthy, through micro loans, with an emphasis on the concept of social collateral�the use of social pressure, as opposed to traditional collateral, to ensure high re-payment rates; to invest in projects with social and sustainable aims; and to create a sound option for socially minded investors looking for a secure investment in the social good.

Strategy: 
We will begin by providing loans to cover the cost of becoming a legal resident or citizen.  These loans will enable the borrower to increase income and re-pay the loan through: access to the Earned Income Tax Credit, which is worth up to $4,100 a year; better access to jobs; ability to legally own property, etc.  In addition, we will disperse loans to low-income entrepreneurs who have graduated from a business-training program given by one of our community partners, or who otherwise can demonstrate the requisite knowledge and skills to succeed in business.

Rather than taking a �hands-off� approach once the loan is made, for both the business and legal status loans we will connect the borrowers with volunteers and other organizations to work with them on financial literacy, business and life planning, tax preparations and other critical needs.

Through focus groups, extensive conversations with community partners and other research, we have identified that there is a need in the community for loans with a reasonable interest rate and flexible requirements with respect to credit history and collateral.  Finally, low-income residents of Providence are less likely to have access to a bank account and more likely to be affected by predatory lending practices such as loan-sharking and payday loans than other Providence residents.  In order to address those trends, and to help Providence continue its revitalization in a sustainable manner, our growth and expansion will lead us to begin accepting deposits, providing loans for green development, and moving towards CDFI status.

Category:micro-credit