Our loans are transformational in ways that go beyond quantitative measures. They open doors, give hope, connect people to opportunity and each other. Take Delia, a citizenship borrower (see her borrower profile by clicking here). Like so many others, she has been struggling to find work. After months of searching she recently found a part-time job. Unfortunately, a few days later—the same day her daughter in Bolivia graduated from High School—she had to be rushed to the hospital for an emergency medical procedure. She found out afterwards that had she arrived 5 minutes later, she would have died; and were it not for medicaid, she would have spent the rest of her life paying off the debt.
Andy Posner visited Delia several weeks after the surgery to check in on her. She was doing better, but still in a lot of pain. She lamented the fact that just when she had gotten a job she had to quit it due to illness. Now all she could do was wait for her body to heal and plan her next steps. As they talked, Andy realized that another borrower—Ducy Cornejo of Green Cleaning Systems—had recently taken out a second loan from CGF and was quickly growing her business. After a short call Ducy confirmed that she would be happy to hire Delia in her cleaning business when she is ready.
More conversation revealed that Delia wants to take CGF’s business basics course. The reason? She is an amazing cook, and wants to start her own pushcart business, selling authentic Bolivian food throughout Providence. As she talked about her dream and saw the steps that could lead her to realizing it, Delia forgot about her misfortune, forgot about her pain, and focused on the future—a future looking more hopeful thanks to her resilience and a small loan from an organization dedicated to a better future for all.
Interested In Working for CGF? We’re Hiring!
Saturday, May 15, 2010
Interested in Working for an Innovative Microfinance Organization? The Capital Good Fund is hiring!
Founded by a dedicated group of Brown students, the Capital Good Fund (CGF) is a non-profit micro-lender which serves low-income individuals in the state of Rhode Island. With an all-volunteer staff and very few expenses, CGF began as a dream in a social entrepreneurship class at Brown University. Within a year, CGF has established itself as the largest student-run microfinance organization in the country.
The Capital Good Fund’s mission is to create a poverty-free, inclusive green economy through innovative microfinance. CGF offers loans to entrepreneurs to start or expand small businesses, to permanent residents seeking to become citizens, and to low-income Rhode Islanders with poor credit. These loans are unique from ordinary micro-loans, however. CGF holds its borrowers accountable to the environment by emphasizing a “green” element to each loan.
In just one year, CGF has won over $60,000 in grants and has expanded its public profile to new heights. In fact, just recently on national television former President Bill Clinton highlighted the organization as a model for innovative entrepreneurship. With over 22 loans given out, for a total of $38,000, CGF is excited to expand its services in the coming months.
As the organization grows and its client base increases, CGF is looking to hire two committed and passionate AmericaCorps VISTAs by June 1st. Listed below are the descriptions for each position. If you are interested, please contact CGF via email ((JavaScript must be enabled to view this email address)), by phone (866-584-3651), or apply directly through the AmeriCorps system. PLEASE NOTE: We are looking for VISTAS who are fluent in both Spanish and English.
1) Loan Officer:
As a loan officer for the Capital Good Fund (CGF), the VISTA will work in a high impact and hands-on role in the organization. Duties include recruiting, meeting, and working with applicants; processing applications to be screened by CGF’s loan committee; reporting loan committee decisions to the applicant; and staying in contact with borrowers throughout the repayment of the loan. CGF’s goal for the VISTA is that they will have made 30 credit builder loans, 20 citizenship loans, and 10 business loans by the end of their service. This position requires a passionate and charismatic person who has the ability to interact with a wide variety of people, to listen to their stories and needs, to go through their credit reports, business ideas, financial histories, to speak to their references, and to make a judgment on their viability as loan applicants. This is a unique opportunity to work in the exciting field of microfinance with an innovative organization in a community— Greater Providence, Rhode Island— that desperately needs the services CGF offers.
2) Business and Financial Literacy Trainer:
As the Business and Financial Literacy Trainer, the VISTA will recruit participants for CGF’s business and financial literacy courses, as well as teach and evaluate the workshops. These workshops serve several goals: first, they prepare individuals for CGF’s loans by providing them with the knowledge and skills they need to succeed in establishing successful businesses and in managing a CGF loan; second, they offer existing clients an opportunity to learn more about financial matters; and lastly, they enable CGF to reach non-clients with important information on financial responsibility and the basics of starting a business.
CGF Featured in the Providence Phoenix
Thursday, May 13, 2010
CGF was featured in an article in today’s Providence Phoenix. The article, titled ‘A Providence non-profit loans out the future,’ highlights our innovative loan programs and their impact on our borrowers You can read the article by clicking here
CGF Mentioned In Local NBC Story on the Rhode Island Economy
Monday, May 03, 2010
Capital Good Fund is mentioned starting at around the 40 second point into the segment!
CGF Wins Brown Business Plan Competition—Social Venture Track!
Last Saturday, May 1st, Capital Good Fund won the Brown Business Plan Competition in the Social Venture Track. CGF was one of 6 amazing finalists, and we are honored to have been chosen as the winners. Our plan focused on how to scale up our first-of-its-kind DoubleGreen Loan Program, as well as how the loan fits into our broader organizational strategy. The award includes a cash prize and in-kind services (such as consulting), and we are confident that this news will serve as a springboard for taking CGF to an even higher level of social and environmental impact!
