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 staff2012 Operating Budget: $13,000

University of North CarolinaFounded in 2009~130 student volunteers2012 Operating Budget: $68,000

Brown UniversityFounded in 20087 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

Start-Up

501(c) 3 Student organization

Academic

Yale; Rutgers; Brown; UNC Chapel Hill; Georgetown; University of Wisconsin; Grinnell College

Arizona State; Fordham University

Northwestern; Duke; University of Alabama;

Notre Dame; St. Cloud State; Bentley

Legal Structure

Products & Services

Business Training Course

Financial Literacy Class

Small Business Loans

Tax Prep Credit Builder Loans

Consumer loansSavings

Alternative payday loan products Access to Markets

Bank On

Technical Assistance: Loan packaging

Financial Coaching

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