The Capital Good Fund is a non-profit microlender based in Providence, Rhode Island. Our mission is to create a poverty-free, inclusive green economy through innovative microfinance. We provide loans, workshops and consulting services to individuals unable to access capital through traditional sources. These products and services go to entrepreneurs seeking capital for income-generating activities and to immigrants interested in applying for U.S. citizenship. We also just launched our DoubleGreen Credit Builder Loan.
We’re Recruiting!
September 1, 2010
As the Capital Good Fund expands rapidly, we are looking to bring on new members to our team! We are recruiting for the following five positions: Marketing Associate, Workshop Instructor, Website Design Associate, Research Associate, and Graphic Design Associate.
CGF Reaches the 40 Loan Milestone!
August 19, 2010
We are very excited to announce our 40th loan today! This $3,300 business loan went to Irma so that she can expand her growing daycare business. Congrats to Irma and CGF, and thank you once again to all of CGF’s supporters. We continue to grow quickly!
Business Basics Workshop Starting Soon!
August 11, 2010
Business Basics Class Starting Soon!
Our next Business Basics Workshop starts Monday, August 23rd. It will be held in our office at 127 Dorrance Street Suite 513, Providence, RI. We will learn about several business concepts that can get a business up and running or give the existing entrepreneur an opportunity to learn about the costs and benefits of expanding. Sign up now by calling 866-584-3651.
There are five (5) classes that each meet for 2.5 hours. We will meet each Monday for five weeks (Class will not meet on Labor Day). Classes are from 6:30-9:00 p.m.
What you’ll learn:
- Budgeting
- Investing Strategies
- Cost Benefit Analysis
- Environmentally Friendly Business Practices
- And Much Much More!!!
The Cost:
- The course costs $25.00.
- Class materials are included and you get a one-on-one 45-minute credit report counseling session detailing your credit history and strategies for improving your score!
Call to reserve your spot today! 866.584.3651 ext. 103
We’ve Moved Into Our First Real Office!
August 2, 2010
In order to accommodate our rapid growth, we’ve just moved into our first real office! Located at 127 Dorrance St. (5th floor) it’s ideally located for our clients to get here, due to its proximity to public transportation, as well as for our student staff, due to proximity to Brown. The 1,300 square foot space has 5 individual offices, as well as a large conference room area where we will host workshops, staff meeetings, events and board meetings.
So come on by and say hello! We’re here most of the day.
CGF Featured in Providence Business News
August 1, 2010
Nonprofit microlender fills the gap for small business by seeking out in risk
By William Hamilton
PBN Staff Writer
Andy Posner would never make it as a banker, and that’s fine with him.
Posner is a founder of a Providence nonprofit that makes small loans to low-income Rhode Island residents with terrible credit history and no collateral to speak of. It’s the type of lending that banks and credit unions largely avoid because the profit margins are tiny, if they exist at all.
And there’s the risk of default. Banks couldn’t stomach it, but Posner’s group, the Capital Good Fund, lives for it.
The Capital Good Fund is part of a growing number of microlenders nationwide that are filling the needs of small businesses and individuals as traditional lenders tighten underwriting standards, and decline to make loans deemed too small to be profitable.
“I view [risk] as a good thing,” Posner said. “If we didn’t have any problems in terms of [borrowers] not being able to pay, it would mean we’re not doing risky-enough lending, we’re not achieving our mission.”
Capital Good Fund is featured in the video below!
The establishment of The Capital Good Fund resulted directly from discussions with community leaders and organizations, all of whom identified a strong need to connect low and moderate-income individuals with affordable capital and additional support such as financial literacy training. Everything we do is centered on meeting that need and providing superb, professional services to our borrowers.
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Modern microfinance arose as a response to the fact that banks were not extending credit to the poor—and particularly the rural poor—of developing countries, and as a result people were forced to endure the usurious practices of moneylenders. Even in the United States, low and moderate-income individuals are effectively shut out of the financial system because of poor or no credit history…
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The Capital Good Fund's first business loan was made to Nina Gauvin. Nina's business, an Edutainment Center with Drop-Off Programs, Activity Centers, Tiny Town, Small Fitness and Room for Special Events and Birthday Parties called The Learn and Play Center, recently opened for business in Johnston, RI. Pictured here are Nina, along with Andy Posner, Co-Executive Director of CGF. Nina's passion, enthusiasm and entrepreneurial abilities have impressed everyone at CGF, and we are thrilled to be working with Nina. Stay tuned for more information about Nina and her business!
The International Institute of Rhode Island
The International Institute of Rhode Island offers educational, legal, and social support to Rhode Island’s immigrant population. By working with people and families as they transition into life in the United States, the Institute assists clients in effectively gaining socioeconomic independence.
Web Site address: International Institute of Rhode Island
English for Action
English For Action serves Latino immigrant families in Olneyville, RI by offering ESOL courses for Spanish-speaking men, women, and families. The organization strives to create a beneficial community that can be sustained outside the classroom through programs that focus on self-expression and leadership development. English For Action
See all Community Partners »