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Microlending Sparks Hope and Renewal in Rochester, N.Y.

David Kidd

January 07, 2020 |

Governing |

Multi-Media |

Over 3000 Words

Response Location: United States, Rochester, New York

In 2016, the city of Rochester, NY partnered with Kiva—a crowd-funded microlender—to serve aspiring or established small-business owners. Their partnership offers interest-free loans, and already 20 of the loans have been fully repaid. This article looks at six different case studies of residents who have benefitted from the program.

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Making a More Democratic Economy, One Revolving Loan Fund at a Time

Oscar Perry Abello

November 14, 2019 |

Next City |

Text |

800-1500 Words

Response Location: United States, Berkeley, California

Advancing the model of worker ownership requires expanding access to loans for cooperative businesses. In California, Berkeley City Council recently adopted changes to its Loan Fund for small businesses, allowing businesses without a CEO to apply for a loan. The City Council and Loan Administration board approved an idea put forth by the Sustainable Economics Law Center (SELC), which will permit coops to appoint a panel of owners to serve as guarantors of a loan, in lieu of a single CEO.

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Changing Lives by Building Credit History — One Microloan at a Time

Farida Jhabvala Romero

November 08, 2019 |

KQED |

Text |

1500-3000 Words

Response Location: United States, San Francisco, California

A program through the Mission Asset Fund, based in San Francisco, helps low-income communities get loans and good credit from an unlikely source: each other. The initiative pools together funds from family members and neighbors and distributes the loan to one of the contributors each month; the loans are interest free and allow community members to build credit without the difficulties of breaking into the typical microfinance realm.

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Companies helping employees tackle student loan debt

Amanda Brandeis

March 25, 2019 |

KGTV-TV |

Broadcast TV News |

Under 3 Minutes

Response Location: United States, San Diego, California

Companies get creative to help their employees tackle student debt by offering loan assistance as well as carrying over unused paid time off into a fund to chip away at debt. In San Diego, Fidelity Investments has found higher employee retention and workplace happiness with the addition of loan assistance as a benefit for employees with student debt.

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The Street Corner Answer

Bruce Katz Ross Baird

March 14, 2019 |

The Philadelphia Citizen |

Multi-Media |

1500-3000 Words

Response Location: United States, Louisville, Kentucky

Access Ventures, a community development organization founded in a Louisville neighborhood, uses a comprehensive investment approach that encourages funds to be dispersed in all issue areas. Instead of creating one "affordable housing fund" or "homeless services fund," the group interweaves investment strategies, making sure to look at the bigger community picture when laying out an investment plan.

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Collaborative Starting to Fill in the ‘Friends and Family' Capital Gap in Oakland

Zoe Sullivan

February 27, 2019 |

Next City |

Text |

800-1500 Words

Response Location: United States, Oakland, California

A collaborative funding organization called the Runway Project gives loans to primarily Black entrepreneurs in the Oakland area. The initiative aims to address racial disparities in startup capital by reducing the financial risk of starting a business. The program also includes personalized support as a "wrap around" approach to the lending process.

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Has New York Found the Secret to Linking Retiring Farmers and Eager Upstarts?

Lisa Held

January 08, 2019 |

Civil Eats |

Text |

1500-3000 Words

Response Location: United States, New York

Connecting new farmers to community partners facilitates the process of buying and selling land. In addition to linking buyers and sellers, the Hudson Valley Farmlink Network (HVFN) enrolls local organizations such as GrowNYC’s FARMroots program, the Hudson Valley AgriBusiness Corporation, as well as micro lenders to make the sale of the land possible. The network increases the resources available to farmers in New York.

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How Funding Black Businesses Can Help Bridge the Racial Wealth Gap

Liz Brazile

December 14, 2018 |

Yes! Magazine |

Text |

1500-3000 Words

Response Location: United States, Oakland, California

An Oakland nonprofit incubator, The Runway Project, addresses racial and economic injustices in entrepreneurship by offering flexible loans for people of color and low-income individuals looking to start a business. Borrowers benefit from flexible loan terms and qualifications, both of which are usually barriers to entry for people of color in the business world.

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Match Trading spreads – and could significantly boost earned income

Anna Patton

October 30, 2018 |

Pioneers Post |

Text |

Under 800 Words

Response Location: United Kingdom, Lancashire

A program in the UK rewards select social enterprises by matching year-over-year sales growth. These incentives boost income from trading, as shown in a pilot program that matched up to £10,000.

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The Informal Bank That Empowers Kenya's Poorest Women

Dominic Kirui

October 19, 2018 |

News Deeply |

Text |

Under 800 Words

Response Location: Kenya, Bubisa

In villages in Bubisa, Kenya, women have come together to form informal community banks so that they may have greater financial access and power. These groups of women together save money, and then lend and borrow money with one another, giving themselves the chance to own property and send their kids to school – without having to rely on their husbands.

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