Intern (n): NOT JUST The Bottom of The Totem Pole
By Amelie Busch
Students across the country have been participating in internships since the beginning of time—perfecting the art of getting coffee, kicking the printer when it’s down, and running downtown for… more coffee.
Luckily, I’m interning at ACCION USA in New York City, where getting “cawfee” is not the major task of my day. As a new “ACCIONista” I’ve been meeting with our Microfinance Council, attending weekly marketing team meetings, interviewing clients, and uploading client stories to our Kiva page. Later this month, I’ll also have the opportunity to travel to the ACCION USA Boston office for the annual Lending team meeting.
As the Kiva Intern, I’ve spent most of my summer working with our clients and Loan Consultants to get client stories posted on the Kiva Intern, I’ve spent most of my summer working with our clients and Loan Consultants to get client stories posted on the Kiva website. Kiva’s been a great partnership for ACCION USA because it helps us lend to clients who fall just under our requirements. With the financial crisis, it’s been all about assessing our risk while still lending to eligible small businesses.
My favorite day, so far, at ACCION USA was when one of our clients, Jose, came into the office. He was meeting with his loan consultant, Elizabeth, to finalize and disburse his loan. Afterwards, I got to sit down with him and ask him about his business so that I could create his Kiva profile. It was great seeing the loan process come to life and meeting with such an inspirational micro-entrepreneur.
As an intern at ACCION USA, my experience has been eye-opening and rewarding. With the organization moving at 100 mph, like most people do in New York City, everyone plays a big role in keeping our vehicle on target. More information, trust and responsibilities are handed to me on a daily basis. With great employees, grateful clients and a fun working environment, this internship has made me feel far from the ‘bottom of the totem pole.’
Amelie Busch is serving as the Kiva Coordinator Intern for ACCION USA during Summer 2010. She is a rising senior at Elon University, studying Finance and Economics. She has a passion for microfinance and founded the Elon Microfinance Initiative – a student organization designed to promote the outreach and awareness of microfinance.
Tags: accion usa, kiva, kiva.org, microfinance, us microfinance
My Five Tenets for U.S. Microfinance
By Jameson Lee
Growing up in Orange County, California as a seventeen-year-old high school student, I have been fortunate enough to avoid the extreme cases of debt, lack of food, water or shelter that affect a large percentage of the world today. Introduced to microfinance by a teacher at my school, I soon recognized the potential that such a system holds to combat poverty.
While I do believe that helping business owners in developing nations will help to balance the financial inequality felt throughout the world, U.S. microfinance deserves equal attention, with the current economic times making it harder than ever for businesses to qualify for loans. Motivated to make a difference, I hope to reach out to my fellow teenagers to help spread the word about the power of microfinance.
I’ve read everything about microfinance that I can get my hands on, and came across Muhammad Yunus’s “16 Decisions.” I found them to be powerful messages for entrepreneurs in developing countries to move towards better social environments. Yet I believe that in an environment where concerns such as access to technology, transportation, education and safety are less significant, business owners in developed nations must have their own personalized guidelines.
I gave some thought to the “16 decisions” of Muhammad Yunus and felt inspired to think about a few that would be well-suited for U.S. microfinance.
Here are my “5 tenets” for U.S. entrepreneurs.
- To demonstrate independence, ambition, innovation and creativity in all aspects of life.
- To work within our means while also looking for economic opportunities in both local and foreign markets.
- To maintain a healthy social lifestyle to foster an ideal learning environment in which all family members can succeed in their own endeavors.
- To be economical in all aspects, making sure to place the welfare of family and business before oneself.
- To never take on more responsibility than can be managed, and to immediately confront issues concerning debt, education and living expenses.
Exposed to the change enacted by ACCION USA, I found such an MFI to be the logical organization to contact in my search for ways to influence my own community. While the need for microfinance in Orange County, California where I live may be less prevalent than other communities, by working alongside such an organization like ACCION USA, I hope to directly influence the lives of others in order to help business owners help themselves. As an advocate for microfinance, I look forward to the chance that it can give to local entrepreneurs, and to the entire world.
Jameson Lee is a teen blogger interested in microfinance, social business, entrepreneurship and helping small business owners to help themselves. His work focuses on explaining the fundamentals of Microfinance, while also questioning the basics foundations for a circumferential understanding of the system. You can follow his work at www.TheRevelationist.com or follow him on twitter @TRevelationist
ACCION USA Celebrates One Year on Kiva.org!
I’m not one for remembering dates; I’ll even admit that I confuse my mom and dad’s birthdays. So when June 10th was approaching, there weren’t any plans going on to celebrate the one-year anniversary for ACCION USA’s partnership with Kiva.org.
Without further ado, a blog post to commemorate the partnership!
On June 10, 2009 the first U.S. loan appeared on the Kiva website, Elizabeth Polanco. I did my best to be the first person to lend to a U.S. entrepreneur; Maria Shriver beat me to it though!
The weeks that followed ensued passionate conversation about the need for microfinance in the United States, compared to traditional Kiva partners in developing nations. A lending team on Kiva was created to support us, check out the Happy Kiva Lenders . There were also some interesting conversations going on in the blogosphere that have helped fuel more support and awareness for microfinance globally.
Since June 10, 2009, ACCION USA has raised almost $500,000 dollars to support 95 borrowers through Kiva.org. Each of these borrowers has had a chance to share their story of entrepreneurship with the lending community on Kiva. Their Kiva profiles help generate a narrative about the successes and challenges for entrepreneurs, and the need for access to small business loans.
U.S. microfinance has only reached the tip of the iceberg, so to speak. It is through partners like Kiva that we are inspired and become innovative to reach those in need. With our missions aligned, ACCION USA and Kiva will continue to grow and inspire interest in microfinance—together.
And now for the Thank You’s!
Dear Kiva lenders, we have been overwhelmed by your generosity and conviction to the mission of microfinance. Thank you for all of your support and kind words—we always look forward to hearing from you. We hope that you choose to continue supporting ACCION USA through Kiva.org.
To our clients, a sincere thank you for participating in the Kiva program—your stories are the reason that we come to work everyday!
Please take a look at our current loans fundraising on Kiva!
Tags: accion usa, kiva, kiva.org, maria shriver, microfinance, us microfinance
Students + U.S. Microfinance = Three Reasons to Blog
I have three reasons to blog today, and all three relate to college students and U.S. microfinance.
1. Microfinance USA conference (MFUSA)
The conference takes place in San Francisco from May 20-21, and includes keynote speakers Maria Shriver and Gavin Newsom. “A Living History: U.S. Microfinance Past, Present and Future” and “Leveraging Partnerships to Reach Millions” are two of the panels to which I am most looking forward. I also can’t wait to meet some of the 200 students that will be in attendance at the conference. I’ll be moderating a panel on student-led microfinance to talk with various stakeholders in microfinance initiatives on campuses across the U.S. and discuss their strengths, challenges, and impact. I hope to see you there!
2. A video about a lemonade stand
Recently ACCION USA ran a “Twitition” (A competition on Twitter) in which three student groups competed to win two trips to the Microfinance USA conference. In addition to tweeting in support of ACCION USA, the students held events on their campus to raise awareness about U.S. microfinance. I’d like to congratulate Global Youth Connection from the College of Wooster (Ohio), which won the Twitition and will be attending the conference next week. Because most students are more familiar with international microfinance, Global Youth Connection became an important voice for U.S. microfinance. Check out the video about their lemonade stand!
3. Tonight’s meeting with the Microfinance Council (MFC)
ACCION USA has a core group of volunteers called the Microfinance Council that is nearly 300 members strong. Tonight I will be meeting with them to discuss ACCION USA’s initiatives with campus microfinance clubs. The MFC will be heading up a project to manage partnerships between ACCION USA and student groups that are interested building awareness, fundraising, and bringing access to microloans in their communities. The MFC is essential in spearheading research into new products and partnerships at ACCION USA. We look forward to sharing with you the fruits of our work!
Working with students over the past few months, I have learned a great deal about their creativity and dedication to a cause. ACCION USA plans to continue expanding our connection with campus microfinance clubs. In the meantime, I am looking forward to learning about “Leveraging Partnerships to Reach Millions” at MFUSA and seeing how students can play a role in strengthening their communities.
Tags: accion usa, accionusa, lemonade stand, microfinance, microfinance usa, microfinance USA conference, student microfinance, students, us microfinance
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
Is ACCION USA in the Era of Web 3.0?
Staff member Erika Eurkus assists an ACCION USA client in building a website for free using Yola.com
I first heard the term Web 3.0 last week at the SOCAP conference in San Francisco. To be honest, I am still trying to understand Web 2.0, but leave it to the technologically savvy San Franciscans to bring me up to speed on online social innovations.
If you’ve joined ACCION USA’s Facebook Page or if you have lent money via our Kiva.org lending team, then you have entered the age of Web 2.0. Web 3.0 is stepping from that online social space back into the offline community. This definition is still up for debate, but using the context of online-to-offline social good I will make an attempt to draw ACCION USA’s path to Web 3.0.
ACCION USA has been working offline in communities throughout the U.S. since 1991. I recently observed one of our New York-based loan consultants as she worked late every day for an entire week, doing everything she could to help her client get the capital he needed for his business. Next, by directing her client to Yola.com to build a website for free, she helped to bring her offline work with this client into the online space.
ACCION USA has recently partnered with Yola.com, which deserves a big round of applause for the great service that it is providing to our clients. The partnership offers clients that create websites through Yola.com the chance to be featured on the Yola.com website — a great marketing opportunity! ACCION USA’s longtime goal of helping our clients create a web presence is now becoming a reality. Yola.com provides a simple drag-and-drop application that makes it easy for anyone to build a website. And in our New York office, Yola.com has sponsored a workstation where volunteers can provide one-on-one assistance to help a microentrepreneur build a website for free! Could this be Web 3.0?
So as you engage in Web 2.0 by reading this blog and commenting on it, consider volunteering with ACCION USA. Empower a business owner by helping them create a website through Yola.com. You could even help them start their own blog! This is my take on Web 3.0 and ACCION USA’s role in it. What are some ways that you’re engaging in Web 3.0?
Tags: accion usa, us microfinance, web 3.0, yola.com
Takin’ it to the Web: Online Microbusinesses Thrive in Recession
Dan and his self-designed greeting cards
Dan is certainly no stranger to the internet’s powerful reach—his social media savvy shows, even though he claims to be a novice. His greeting card company, iZon, was started at his dining room table, and has expanded beyond his wildest expectations. Now he is planning to bring his business into the internet age with a new website and marketing campaign.
Internet-based businesses in ACCION USA’s portfolio have been performing extremely well lately, largely because they have low overhead. Freed from the obligation of rent, they have fewer financial burdens to manage in the event that sales take a turn for the worse due to the recession. Joshua, for example, runs his vintage clothing business solely on the internet. Instead of investing capital in rent for a storefront, he sells his handpicked items online.
The economy may or may not be on the path to recovery, but it’s clear that jobs will keep dropping for a while longer. This means that more and more budding entrepreneurs are seeing the recession as an opportunity to go into business for themselves. While ACCION USA provides vital financial services to this population of entrepreneurs, the internet provides a low-cost marketplace for their ideas.
Though online businesses may not be the first thought that comes to mind when thinking of the typical microfinance borrower, I know I’m definitely curious to see if the internet becomes a more common marketplace for microbusinesses over the next few years. Business presence on the web may also become a metric for social impact as we work with our entrepreneurs to develop cost-saving solutions to doing business.
What Makes an Entrepreneur an Entrepreneur?
ACCION USA borrower Frederick at his emissions testing center.
“The driving need isn’t different, and the dreams aren’t different, and the final outcomes may be influenced by different factors, but in essence [U.S. and international borrowers] aren’t different,” said Gina Harman, ACCION USA’s CEO, shortly before the organization formed its groundbreaking partnership with Kiva, regarded primarily for its work in the developing world. She stressed the importance of conveying what a massive change small business ownership can mean for a client – “it’s about the human desire to provide, and the devotion to doing whatever has to be done to make it work.”
Her words describe exactly what I’ve been experiencing for the last few weeks, as I meet with clients and hear stories revealing their drive for success. I know if I had a business idea that my local bank didn’t seem to believe in enough to give me a loan, I would probably just resign myself to thinking it was harebrained in the first place and call it a day. ACCION USA borrowers do just the opposite—when they are turned down by a bank, they come to us instead.
Just last week I spoke with Frederick, an ACCION USA borrower who had tired of working for government agencies as a fire inspector and dreamed of starting his own emissions inspection business. After he told me he was turned down by a bank before he came to ACCION USA, I asked him why he was so devoted to starting his own business.
“What makes you happy?” I asked him.
“Giving others the best service I can,” he said. “I knew I couldn’t do that unless I was working for myself.”
How often do we complain about our lack of professional fulfillment without attempting to do something about it? When people like Frederick share their stories and express the devotion with which they tackle, as Gina said, “whatever has to be done,” it should make us all reflect on the choices we have to pursue our own ambitions.
Elise Tosun has a background in economics and has worked on designing financial products for farmers in India and for a microfinance investment fund in New York. She is currently the Kiva Program Intern at ACCION USA.
Tags: accion, accion usa, elise tosun, entrepreneurship, gina harman, kiva, kiva.org, us microfinance
A Mainstreet Microfinance Mission
On one of my very first missions as a Kiva Fellow, I wandered through a maze of food cart vendors searching for a borrower. A newbie to the profession, I thought his address would be enough to locate him to take a the photo needed for his profile. As anyone who has ever tried to find anything in a developing country, region, or neighborhood will tell you, I needed much more than just an address. I was surrounded by food carts in all directions, slinging everything from fruit and pretzels to dumplings and falafel. Where was I? Not in India, or Kenya, or Guatemala. No, I was in downtown Manhattan.
As a Kiva Fellow for ACCION USA, I learned that New York borrowers were more similar to international borrowers than not. If 75% of ACCION USA’s borrowers are immigrants, it’s even possible that some of them could have been microloan borrowers in their home country before applying at ACCION USA!
Perhaps one of the most revolutionary aspects of ACCION USA’s jump into the person-to-person lending market is just that: the divide between Kiva lenders and borrowers has grown much smaller. As one Kiva/ACCION USA lender recently conveyed to me, her son was inspired by Ray’s business in Atlanta. Her son receives his allowance in Kiva cash, and he is an avid lender. Seeing a successful small business being built closer to home has inspired him, and has made the other business he sees around the world that much more real and respected.
My last attempt to contact the elusive food cart borrower landed me at a hot dog cart smack dab in the spot where my guy had been 10 minutes prior. I decided to strike up conversation with his replacement.
“So where are you from?” I asked.
“Bangladesh,” he said- sounded like music to my ears. I bought the quintessential NYC treat from him, as we chatted about Muhammad Yunus and the American dream. We both concluded that New York City is an incredible and magical city. I couldn’t have asked for a better end to my Kiva mission – to learn that microentrepreneurs here in the U.S. are as inspiring and resourceful as those in the developing world.
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Erica Dorn served as Kiva’s first domestic Fellow, she now coordinates the Kiva program at ACCION USA. Learn more about Erica’s U.S. microlending adventures at Vimeo.
Tags: accion, accion usa, erica dorn, kiva, kiva.org, microfinance, Muhammad Yunus, us microfinance, Yunus
Looking for Some Inspiration?
If you need some energy or inspiration I can recommend one women who may provide that- Congresswomen Nydia Velasquez. She is a fierce and energetic woman who is completely dedicated to supporting small businesses.
This week at Brooklyn Borough Hall Velasquez opened a panel discussion about the current economic stimulus package and what has been implemented to help small business in America. The panel included CFO Paul Quintero of ACCION USA.
Quintero spoke warmly about AUSA’s commitment to its communities and the importance of collaboration within the industry. Velasquez resounded with extreme vigor and honesty about the role of government in helping small businesses. She talked about the importance of supporting institutions like AUSA, before leaving to attend a similar rally in Manhattan.
After the panel spoke, there was a short discussion and later entrepreneurs from diverse industries mingled to share ideas and learn more. I watched as Glamis Haro, an AUSA loan consultant representing Brooklyn listened to the challenges, hopes, and concerns of each individual and spoke wholeheartedly to them about their options for attaining capital through ACCION USA.
As I was leaving, in walked Velasquez again! She had finished her delivery at the other small business rally and was anxious to be in the crowd talking to entrepreneurs in Brooklyn. A young woman came running to give her a warm embrace and many other entrepreneurs gathered as the congresswomen lent an open ear. Velasquez, along with AUSA, understands that by supporting small businesses you are supporting something much larger.
Check out the video to see both the commitment and dedication conveyed by Velasquez and Quintero.
ACCION USA and Nydia Velasquez from Erica Dorn on Vimeo.
Tags: accio nyc, accion, accion usa, erica dorn, microfinance, microloans, nydia velasquez, paul quintero, small business, us microfinance