Want To See The Way Microfinance Works From The Inside?
Join us, December 1st at 5:00PM EST for “Underwriting: Microfinance Behind the Scenes,” an exciting webinar about how to underwrite a microloan presented by the Microfinance USA 2011 Conference. We’ll be hosting two of the industry’s leading loan underwriters: Neil Boss, Senior Underwriter at ACCION USA and William Cardenas, Senior Loan Consultant at Opportunity Fund.
Their online presentation will include:
- Case studies of recent loan approvals
- Common microloan application strengths and weaknesses
- Internal processes (and the evolution of processes) that have lead to improved and quicker loan decisions
- Plenty of time for virtual Q&A with webinar participants
The webinar will give a sneak peek into the types of topics and sessions that the Microfinance USA 2011 Conference will explore. We’re excited to co-present the conference in New York City on May 23-24, 2011, in partnership with Opportunity Fund and Kiva. We’ll make sure you’re the first to know when registration opens later this year. In the meantime, this webinar is not to be missed! Register now and mark your calendars for this exciting event.
Tags: accion usa, kiva, loan, microcredit, microfinance, new york city, Opportunity Fund, United States
Microfinance Week in Review: Week Ending August 27th
Some of the week’s news in the microfinance, green business initiatives and the small business sector:
- Quest for the Perfect Credit Score- CNN
- No Down Side for Pittsburgh Businesses as Students Arrive- Pittsburgh Review
- Small Businesses are Official’s Business- The San Diego Union Tribune
- Five Things Small Businesses Want From Washington- NACS Online
- Small Businesses Loan Programs Need Cash ASAP- CNN
Tags: credit, credit cards, loan, microcredit, microfinance, pittsburgh, small business, Washington D.C.
The Story of Tanto Dulce Cafe
Monica's drawing of her cafe, Tanto Dulce
When ACCION USA borrower Monica Gonzalez designed the interior of her new Harlem café, she did so from a hospital bed. Monica was recovering from major emergency surgery in the months before the opening of Tanto Dulce (“So Sweet” in English), a dream which had been years in the making.
Eight years ago, Monica moved to the U.S. from Venezuela, where she had worked as a lawyer, in order to give her children better opportunities. Not knowing English, she found it difficult to secure a legal job, so she turned to her hobby: baking. After an apprenticeship and classes where she learned to make classic Italian desserts, Monica opened up a wholesale basement space from which she sold to local food trucks serving the Hispanic community.
ACCION USA gave Monica a loan to open up a storefront on Broadway in Harlem. However, she started having stomach problems around the same time. When they became too painful to ignore, she saw a doctor, who told her she would need to have surgery immediately. As her family and friends were completing the move into the Tanto Dulce space, Monica directed their efforts from her hospital recovery room, drawing pictures like the one above.
Monica’s unassuming demeanor hides a fierce entrepreneurial drive that is evidenced by her perseverance. In addition to continuing to sell wholesale goods from the basement space, she is taking more classes to broaden her cooking repertoire so that she can open a wine bar one day.
On a recent visit, I found the tiny café full of both students and local patrons, all enjoying their late-morning snacks and coffees as studying as reggaeton radio music softly played in the background.
Check out a behind-the-scenes video here on our YouTube page!
Tags: baking, cafe, microcredit, pastry, small business, success stories, us microfinance, venezuela