Mobilizing Rotary for Microcredit

MRM2011- 2012

Microcredit in San Diego

Microcredit in San Diego

2011-2012 Project Proposals fromSan Diego-based microfinance organizations:

Foundation for Women La Maestra Clinic Women’s Empowerment and the

International Rescue Committee

FFW Foundation for Women

15 microcredit locations throughout San Diego (as of October 2011) incl. Carlsbad, Oceanside, Escondido, Fallbrook, La Costa, Linda Vista, Spring Valley, Southeast San Diego, National City, Chula Vista

Since March 2010, worked with over 500 women

Over 495 loans disbursed, totaling $153,250 250 women with current loans, 100 women in

savings program

FFWFoundation for Women

Follows Grameen group model, groups of 5 borrowers

Loan amounts are $250, $500 and $1,000 25 weekly repayments at 10% interest rate Includes savings component Almost 100 women on waiting list Requested funds for loan capital (no specific

amount requested)

La Maestra Clinic

Follows the Grameen group model $250 first loan (x 20 borrowers = $5,000) 25 week repayment period @ 10.5% interest

rate Requested $5,000 for loan capital for a

program in Linda Vista, where many women are on a waiting list

La Maestra Clinic

Other partners are USD, UCSD, Point Loma Nazarene U., Access2Jobs.org

La Maestra Health Clinics serve over 65,000 low income residents in San Diego County

Women’s EmpowermentInternational Rescue Committee

Program partnership between WE and IRC provides loans as low as $200, based on a rigorous application process and individual needs, primarily to refugees

Loan repayments made monthly, no savings component

a “direct lending” (not group-based) model Requested $10,000, with $7,000 for loan

capital and $3,000 toward salary of Business Counselor

Women’s EmpowermentInternational Rescue Committee

WE & IRC formed the WE Star Center 6 years ago to help refugee women start businesses

To lessen/eliminate reliance on public assistance

Program includes business training, technical assistance, industry specific training, language translation, credit building, financial coaching

Women’s EmpowermentInternational Rescue Committee

Loans range from $200 to $15,000 Independent Loan Committee approves loans 165 clients enrolled and served to date 214 training participants 60 businesses started, 55 expanded, 25 loans

made $110,000 total value of loans

Microcredit in San DiegoVolunteer opportunities

Business training and assistance in marketing, accounting, advertising, business plan development

Industry specific training eg child care, restaurants, jewelry-making

Legal and licensing assistance Marketing assistance in web development, e-

commerce, branding, public relations

Microcredit in San DiegoVolunteer opportunities

Tour the WE Star center and IRC’s Family Learning center, Summer Program and New Roots Community Farm

Join the IRC Loan Committee or Refugee Mentor program

Microcredit in San Diego

Irma Knighton, 2nd loan cycle. Low fat tamales production and sales

Luz Arreola, 1st loan cycleJewelry sales and Cisco business training facilitator

Microcredit in San Diego

Guest speaker, Karla Duarte, teaching the Spring Valley Microcredit group marketing and business management class

Microcredit in San Diego

City Heights Somali Group

Fardowsa and friends, 2nd Loan cycle

Production and sales of samosas and Somali food

Microcredit in San DiegoAmina’s Sambusas

Amina Essa, a refugee from Somalia, has lived in San Diego since 1993 and began a Somali pastry business in 2008. She is now a successful caterer whose popular East African cuisine can be found every Saturday at the City Heights Farmers Market.

Microcredit in San Diego Fadumo’s Childcare

Fadumo Hassan

came to San Diego in 2004 from Somalia. She provides licensed childcare services from her home in City Heights five days a week.

What can Rotarians do

Initiate a new microfinance project based on who you already know

Participate in an existing MRM project initiated by another Rotary Club

Join MRM and RAGM to keep updated on Rotary’s efforts & stay informed

Thank you & QuestionsMRM Rotary Clubs

Please join us, we need YOUBrawley El Camino Real La Mesa Rancho Bernardo Sunrise

Calexico Encinitas La Mesa Sunrise Rancho Santa Fe

Camp Pendleton Encinitas Coastal Lemon Grove San Diego (Club 33)

Carlsbad Escondido Mission BaySan Diego Downtown Breakfast

Carlsbad Hi-Noon Escondido East Mission ValleySan Diego Uptown Sunrise/Mid City

Chula Vista Escondido Sunrise National City San Luis Rey/Oceanside

Chula Vista Sunrise/Bonita Fallbrook Oceanside San Marcos

Coronado La Jolla Old Mission Shelter Island

Del MarLa Jolla Golden Triangle

Point LomaPoway Southeast San Diego

Del Mar-Solana Beach Sunrise

La Jolla New Generations Ramona Torrey Pines La Jolla

El Cajon Noon La Jolla Sunrise Rancho Bernardo