how to start a
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How to start a. Define Campus MFI. A group or organization founded or led by students that offers equitable financial services to disadvantaged community members off-campus. Campus MFI Examples. The Campus Microfinance Alliance is a platform for students to learn how to practice microfinance. - PowerPoint PPT PresentationTRANSCRIPT
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How to start a
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Define Campus MFI
A group or organization founded or led by students that offers equitable financial services to disadvantaged
community members off-campus
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Campus MFI Examples
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The Campus Microfinance Alliance is a platform for students to learn how to
practice microfinance.
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How we help Campus MFIs
Annual conference
Start Up Kit (Startupmfi.wikispaces.com)
Intensive technical assistance – Site Visits
Lend for America Fellowship
Alchemy Listserv & Member Monthly
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Yale University in New Haven, CT Founded 2001~50 student staff2012 Operating Budget: $13,000
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University of North CarolinaFounded in 2009~130 student volunteers2012 Operating Budget: $68,000
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Brown UniversityFounded in 20087 Full-time staff
2012 Operating Budget : $280K
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Before you start• Is microfinance right for you and
your campus community?– Commitment– The Team– Skills–University Support–Market Research
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Start-Up
501(c) 3 Student organization
Academic
Yale; Rutgers; Brown; UNC Chapel Hill; Georgetown; University of Wisconsin; Grinnell College
Arizona State; Fordham University
Northwestern; Duke; University of Alabama;
Notre Dame; St. Cloud State; Bentley
Legal Structure
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Products & Services
Business Training Course
Financial Literacy Class
Small Business Loans
Tax Prep Credit Builder Loans
Consumer loansSavings
Alternative payday loan products Access to Markets
Bank On
Technical Assistance: Loan packaging
Financial Coaching
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Fundraising• Community Reinvestment Act (1977)– Banks
• Ask on campus for funds– Think experiential education, community
engagement, community service– Professors, department chairs,
Dean/President/Provost office, Center for Service Learning, Center for Social Entrepreneurship
– Business plan competitions
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Sustainability• Structure: Example - Departments – Executive Board (co-CEOs, COO, CFO)– Fundraising Department– Lending Department– Finance Department– External Relations Department
• Leadership transitions
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What to do first• ‘Voices of my community’ exercise to
get to know your community– Go off campus and have conversations
with community members
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Consider the following• Geography: Is there a neighborhood close to
campus that is underserved by local providers? What does it look like and what are its main challenges? Are there central places where I can go to speak to local community members?
• Demographics: Where is there a potential match between their cultural characteristics (ie, low income Hispanic microbusinesses) and our capacities?
• Psychographics: What are the attitudes, values, challenges, and preferences of community members?
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Take-home Exercise
Voices of my community
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