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Cougar Microfinance
What is Microfinance
• it is a growing industry which supplies small loans to the world’s poor who otherwise would not have access to capital
• broadly defined it is a movement aimed at providing financial services to the poorest individuals (that generates both social benefits as well as profits in the communities which MFIs operate
Microfinance Today
Microfinance has been growing rapidly with over $40 billion currently at work. However, it is estimated that the industry needs $250 billion to get capital to all the poor people who need it.
Furthermore it is still the case that the majority of people who earn less than $2 a day continue to have no practical access to formal sector finance (or anything resembling such)
Our Mission
• Internal• Develop a Emerging
Markets Microfinance class
• Raise awareness on campus
• Create a fund for lending
• Study abroad
• Become, in essence, a fully functioning MFI!
• External• Lend money to micro-
borrowers both foreign and domestic
• Add value to the community by partnering with local MFIs and non-profits
• Teach basic business and accounting skills
• Review business plans
• Work with existing small business
Small Business Consulting
•Cougar Microfinance is currently engaged with two local entrepreneurs to provide consulting services.
• Carolina Eye Services, LLC
• Help develop integrated business plan and financial model
• Industry analysis
• Pro forma analysis
• Valuation and exit strategy
• Help source funding
• Established Independent Food-stuffs Retailer
• Pending non-disclosure agreement
• Valuation and exit strategy
• Full pro forma
• DCF/Comp analysis
Charleston LDC
•Objective• Partner with Charleston LDC
to help local entrepreneurs in securing SBA funding
• Reviewing Business plans• Marketing assistance• Financial/Accounting
seminars
Oportunity
• Internships
• Resume
• Class Credit
• Community Service
• Experience
• Exposure
• Microfinance is the ‘buzzword’ across many different sectors and industries.
• The hands-on experience gained by participation with the club will carry over to opportunities after college:• Finance
• Business Administration
• Marketing
• Non-for-Profit
Microfinance Clubs Microlending Organizations
Accion International
Deutsche Bank Microcredit Development Fund
E+CO
Fonkoze USA
Foundation for International Community Assistance (FINCA)
Nicaraguan Credit Alternatives Fund (NICA Fund)
Oikocredit USA
Opportunity International
Sarona Global Investment Fund
Shared Interest, Inc
Sostenica, Sustainable Development Fund of Nicaragua
In the United States:Amherst Microfinance Club Amherst College
Bentley Microfinance InitiativeBucknell’s Microfinance Initiative
Boston College Microfinance InitiativeCarlton College Microfinance ClubChampan University Campus Kiva
Claremont McKenna College's Microfinance Task ForceCollege of William and Mary
Columbia University Microfinance Working GroupCornell University’s BR MicroCapital
Cornell University's Sovial Enterprise and Microfinance Club (SEAM)Covenant College's Chalmers Center
Davidson Microfinance ClubDuke University Microfinance Leadership Initiative
Eastern University’s Microfinance ConferenceEmory University Microfinance Club at Emory University
Fairfield University’s CMACGeorgetown Microfinance at Georgetown University
George Washington University’s Developing Students 4 Sustainability PrgramHamilton College Microfinance Club at Hamilton College
Harvard Project for Sustainable DevelopmentHaverford Microfinance Consulting Club at Haverford College
Indiana University's Trockman Microfinance InitiativeIllinois State University’s Ekkekko
Lehigh University Microfinance ClubMacalester College - Macalester Development GroupMessiah College MicroEconomic Development Group
Nortre Dame Microfinance InititativeNYU Microfinance Club
Northwestern Universities Social Impact at Kellogg School Of BusinessOhio State University’s Rural Microfinance ProgramPoint Loma Nazarene University Microfinance Club
Princeton Microfinance Organization at Princeton UniversityRice University’s Owl Microfinance Club
Seattle Pacific University Microfinance ProgramSouthern New Hampshire University’s Microenterprise Development Institute
St. Thomas Microfinance ProgramUCLA - Los Angeles Microfinance Network - UCLAUniversity Of Houston's Microfinance InitiativeUniversity of Minnesota- Microfinance Alliance
University of Mary Washington - La CeibaUniversity Of Colorado's Microfinance Club
University of North Carolina - The Carolina Microfinance InitiativeUniversity of Oregon Microfinance Initiative
University of Southern California - Microfinance and BeyondUniversity of Pennsylvania - Penn Microfinance Club
University of Texas - Texas Microfinance GroupUniversity of Utah Microfinance Club
University of Virginia - Seed MicrofinanceUniversity of Washington Microfinance Initiative
Vanderbilt Microfinance ClubWashington And Lee University- The General Development Initiative
Westminster Entrepreneurship ClubWestern Washington University - Western Washington Microfinance Club
Wright State Student Microfinance CampaignYale University - Elmseed Enterprise Fund
Who we needFinance/Economics/AccountingHelp develop budget and programs for the club
Create model for lending of club funds
Help local entrepreneurs with financial modeling
BusinessDevelop the operational structure of the club
Review business plans with local entrepreneurs
Work to create “best practices” for lending of club funds
Marketing/PRHold events for fund raising and awareness
Create and manage the club website and all informational material
Monitor the relationship of the club with both the school and the community
MICROFINANCE BRIGADESCollege of Charleston
COMMUNITY OVERVIEWEL ZUZULAR
Socio-economics The average family income per month is estimated to be 1600 Lempiras, which is approximately L320 (US $16.94) per person3. The majority of homes are made of adobe. The main form of employment is agriculture on owned land, and the main products that are cultivated in the community are coffee, corn and beans. A community bank is in the process of being formed and trained by FUNDER in conjunction with Global Brigades.
CAJA INFO: • “Juventud Solidaria” Solidary Youth. Henry Velasquez is the president. • 17 members • Finished training in November.• 2nd Brigade
Population* 600
Number of homes 125
Average number of people per home 5.5
Number and (0-5): 49/8.1%
% of children (0-9): 149/24.8%
Electricity No (in process)
GPS N 14° 15.762’
W 086° 52.227’
Altitude 4900 ft
Municipality San Juan de Flores
ITINERARY
Day 1: Arrival, FUNDER Presentation
Day 2: Initial Administrative Board Meeting, Cultural Activity
Day 3: Community Household Visits
Day 4: Community Household Visits
Day 5: Nuevo visit/Guest speaker/Final meeting with Admin. Board of Caja
Day 6: Community Event and Workshop/ Nightly CIF discussion
Day 7: Tourism and Airport Departure
Further Reading Further Reading
http://microfinance.clubs.cofc.edu/
http://fieldus.org/Publications/2008/index.html
http://www.aspeninstitute.org/sites/default/files/content/docs/pubs/Microfinancing.pdf