How to start a
Define Campus MFI
A group or organization founded or led by
students that offers equitable financial
services to disadvantaged community
members off-campus
Campus MFI Examples
The Campus Microfinance Alliance is a
platform for students to learn how to practice
microfinance.
How we help Campus MFIs
Annual conference
Start Up Kit (Startupmfi.wikispaces.com)
Intensive technical assistance – Site Visits
Lend for America Fellowship
Alchemy Listserv & Member Monthly
Yale University in New Haven, CT
Founded 2001
~50 student staff
2012 Operating Budget: $13,000
University of North Carolina
Founded in 2009
~130 student volunteers
2012 Operating Budget: $68,0
Brown University
Founded in 2008
7 Full-time staff
2012 Operating Budget : $280K
Before you start
• Is microfinance right for you and your
campus community?
– Commitment
– The Team
– Skills
– University Support
– Market Research
Legal Structure
Start-Up
Arizona State; Fordham
University
501(c) 3
Yale; Rutgers; Brown; UNC
Chapel Hill; Georgetown;
University of Wisconsin;
Grinnell College
Student organization
Northwestern; Duke;
University of Alabama;
Academic
Notre Dame; St. Cloud
State; Bentley
Products & Services
Technical Assistance: Loan packaging
Small Business Loans
Credit Builder Loans
Tax Prep
Financial Coaching
Business Training Course
Savings
Financial Literacy Class
Alternative payday loan
products
Consumer loans
Bank On
Access to Markets
Fundraising
• Community Reinvestment Act (1977)
– Banks
• Ask on campus for funds
– Think experiential education, community
engagement, community service
– Professors, department chairs,
Dean/President/Provost office, Center for
Service Learning, Center for Social
Entrepreneurship
– Business plan competitions
Sustainability
• Structure: Example - Departments
– Executive Board (co-CEOs, COO, CFO)
– Fundraising Department
– Lending Department
– Finance Department
– External Relations Department
• Leadership transitions
What to do first
• ‘Voices of my community’ exercise to get
to know your community
– Go off campus and have conversations with
community members
Consider the following
• Geography: Is there a neighborhood close to
campus that is underserved by local providers? What
does it look like and what are its main challenges?
Are there central places where I can go to speak to
local community members?
• Demographics: Where is there a potential match
between their cultural characteristics (ie, low income
Hispanic microbusinesses) and our capacities?
• Psychographics: What are the attitudes, values,
challenges, and preferences of community
members?
Take-home Exercise
Voices of my community