Mobilizing Rotary for Microcredit MRM 2011 2012 Microcredit

Mobilizing Rotary for Microcredit MRM 2011 - 2012 Microcredit in San Diego

Microcredit in San Diego 2011 -2012 Project Proposals from San Diego-based microfinance organizations: n n n Foundation for Women La Maestra Clinic Women’s Empowerment and the International Rescue Committee

FFW Foundation for Women n n 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 women with current loans, 100 women in savings program

FFW Foundation for Women n n n 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 n n 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 n n Other partners are USD, UCSD, Point Loma Nazarene U. , Access 2 Jobs. org La Maestra Health Clinics serve over 65, 000 low income residents in San Diego County

Women’s Empowerment International Rescue Committee n n 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 Empowerment International Rescue Committee n n n 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 Empowerment International Rescue Committee n n n 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 Diego Volunteer opportunities n n 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, ecommerce, branding, public relations

Microcredit in San Diego Volunteer opportunities n n 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 Luz Arreola, 1 st loan cycle Jewelry sales and Cisco business training facilitator Irma Knighton, 2 nd loan cycle. Low fat tamales production and sales

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, 2 nd Loan cycle Production and sales of samosas and Somali food

Microcredit in San Diego Amina’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 n n n 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 & Questions MRM Rotary Clubs Please join us, we need YOU Brawley 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) Mission Bay San Diego Downtown Breakfast Carlsbad Escondido Carlsbad Hi-Noon Escondido East Mission Valley San 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 Mar La Jolla Golden Triangle Point Loma Poway 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