{"id":297,"date":"2016-07-29T10:24:46","date_gmt":"2016-07-29T14:24:46","guid":{"rendered":"http:\/\/blogs.haverford.edu\/mi3\/?p=297"},"modified":"2023-08-08T16:32:17","modified_gmt":"2023-08-08T16:32:17","slug":"hmfc-helps-fund-loan-to-local-ngo-working-with-returnees","status":"publish","type":"post","link":"https:\/\/blogs.haverford.edu\/mi3\/2016\/07\/29\/hmfc-helps-fund-loan-to-local-ngo-working-with-returnees\/","title":{"rendered":"HMFC Helps Fund Loan to Local NGO Working With Returnees"},"content":{"rendered":"

HMFC, the student run H<\/strong>averford M<\/strong>icroF<\/strong>inance C<\/strong>onsulting, has been working\u00a0for the past two years with Kiva Zip, an online crowdfunding platform for zero interest loans to small businesses. Last year, in its role as a Kiva Zip trustee, HMFC\u00a0endorsed Aisha of Miss Mahogany, an accessory and home decorations boutique in the 60th Street Corridor in West Philly. HMFC helped her to post her Kiva Zip profile and fund her loan. (Thanks again to those HC students, alums and friends who participated in that loan!).<\/p>\n

In April,\u00a0with the semester coming to a close and no potential borrowers\u00a0to endorse as a trustee, HMFC decided to focus its attention on raising awareness of Kiva Zip and access to finance issues by having a bake sale – and using the funds to\u00a0loan to\u00a0a\u00a0local business on\u00a0Kiva Zip’s website. They headed to the kitchen and thanks to their combined talents of\u00a0Rebekah Fussell ’19, Steve Lehman ’19, Ian McGroarty ’17, Andrew Nguyen ’19, and Kerry Rodriguez ’18 produced an appealing stack of <\/span>brownies, Rice Krispie treats and homemade Chinese Fortune cookies filled with catchy financial literacy lessons such as “Pay your IRA before your IPA!” Admittedly, our homemade fortune cookies may not have looked professional, but they tasted good and served their \u00a0purpose.<\/p>\n

\"Steve<\/a>

Steve Lehman ’19, Rebeckah Fussell ’19 and Kerry Rodriguez ’18 doing prep!<\/p><\/div>\n

\"Andrew<\/a>

Andrew Nguyen shaping fortune cookies<\/p><\/div>\n

\"Rice<\/a>

Rice Krispie Treats in the making with Rebeckah Fussell ’19 and Ian McGroarty ’17 (maybe better not to look!)<\/p><\/div>\n

The students set up shop at the DC at dinner time and those who bought the baked goods were able to vote for one of three businesses seeking a loan.<\/p>\n

By the time Steph Lukaz ’19 arrived for the second shift the cookies\u00a0were almost all gone. “We sold out way before we predicted,” Steph said. She added, that this<\/p>\n

“speaks well\u00a0to the character of Haverford students and the growing interest in impact investing\u00a0to\u00a0generate significant social impact. Impact investing has the potential to alter the way people choose to deploy\u00a0money. Perhaps we should not be surprised at the interest of Haverford students in contributing to the cause even, if it’s as little as investing in a cookie.”<\/p>\n

Since the organic farm that garnered the most votes was already fully funded by the next day and there were no other comparable loan seekers, the group had to make a decision: honor the sector that received the most votes (sustainable foods) or honor the focus on a local borrower.<\/p>\n

The students\u00a0decided on the latter and then voted to fund a Philadelphia\u00a0NGO that is working with returnees, men who had been released from prison and were integrating back into society (TIIAI.Org<\/a>\u00a0). They were very impressed with TIIAI’s\u00a0mission as well as its\u00a0proposed use of the loan. TIIAI has created\u00a0a pair of books to sell for fundraising. By using the loan to print higher volumes, TIIAI can reduce the average cost and increase the funds raised on each book to support their programming.<\/p>\n

Congratulations to TIIAI. We wish them success\u00a0with their\u00a0book sales and with their programming in the community.<\/p>\n

And, kudos to HMFC for helping to engage the Haverford community in what will be a gift that keeps on giving. In two years, TIIAI is expected to have paid off its loan and these funds can be redeployed to help another NGO or social entrepreneur.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

HMFC, the student run Haverford MicroFinance Consulting, has been working\u00a0for the past two years with Kiva Zip, an online crowdfunding platform for zero interest loans to small businesses. Last year, in its role as a Kiva Zip trustee, HMFC\u00a0endorsed Aisha … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":43,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wds_primary_category":0,"footnotes":""},"categories":[3,4,5,7,1],"tags":[12,14,16,17],"class_list":["post-297","post","type-post","status-publish","format-standard","hentry","category-haverford-mfc","category-haverford-students","category-impact-investing","category-microfinance","category-uncategorized","tag-impact-investing","tag-kiva-zip","tag-microfinance","tag-philadelhpia"],"_links":{"self":[{"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/posts\/297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/comments?post=297"}],"version-history":[{"count":0,"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/posts\/297\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/media?parent=297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/categories?post=297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.haverford.edu\/mi3\/wp-json\/wp\/v2\/tags?post=297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}