OFN Members are always busy. From traveling across the globe, to working directly in communities, to speaking with members of Congress these daily actions and strategic efforts are well-documented in Member blogs. We are sharing a few snippets of what your peers have been up to!
Grameen America shares a moving story about working with a small business owner:
"As a mother of seven, Reyna was inspired to start her own business not only to provide for her children, but also to set an example of how hard work can truly pay off. She recently opened a storefront called Beauty Boutique in North Austin, TX. Shortly after setting up shop, she joined Grameen America with hopes of expanding her business…" Continue reading here.
Capital Impact Partners on expanding and diversifying their capital base:
"Driven by another year of strong lending, Capital Impact ended 2015 with a solid financial position. The organization’s overall portfolio increased by $22 million or 11 percent. This growth was matched with continued strong credit performance, as our delinquency rate was just 0.4 percent. Once again, our focus on financial strength and social impact was rewarded with AERIS’ highest possible rating of AAA+1. This honor pleases us greatly..." Continue reading here.
Calvert Foundation treks to India:
"We recently returned from a trip to India, where we had the privilege of visiting some of Calvert Foundation’s current and past borrowers. We visited several social enterprises and met dedicated individuals working tirelessly to improve life for communities at the base of the pyramid. Their activities span a range of sectors, including healthcare, education, clean energy and more; and they rely on flexible debt capital to grow their businesses. In partnership with non-banking financial companies (NBFCs) in India, Calvert Foundation is channeling investor dollars to these enterprises through the India Investment Initiative…" Continue Reading here.
Accion shares insights on the move to FinTech for microfinance banks:
"I’m sitting in a conference room surrounded by CEOs and board members from microfinance banks throughout Latin America. There is tension in the room. Everyone is sitting forward in their chairs trying to absorb the words of a panel of representatives from FinTech companies and FinTech investment firms.
Many microfinance banks have worked tirelessly to build a client base, become sustainable, and create a positive impact in their community. It has been an expensive and long process. These same MFIs are now holding their breath, hoping someone doesn’t create a start-up that offers the same services via a mobile app for a minimal cost per customer. They are worried that a FinTech company could have the same impact on the microfinance industry as Uber had on the taxi industry…" Continue reading here.
NeighborWorks America on how partnerships can mitigate gentrification:
"Once a neighborhood is transformed from a place of disinvestment to a vibrant community with good schools, parks, transportation, cultural attractions and shopping, the work is not over. There is another challenge looming: How can we assure that rising rents and home values don’t prevent low-income residents from benefiting from those improvements?" Continue reading here.
LIIF shares their experiences working with other CDFIs in a recent trip to Capitol Hill:
"The briefings were part of LIIF’s ongoing work with Capital Impact Partners, IFF, and the Reinvestment Fund, who have collectively made a significant impact on the communities they serve. LIIF is proud to join our partners in amplifying voices in the community development field so that more Americans can live happy, prosperous lives…" Continue reading here.
LEDC rallies against slumlords:
"In 2013, their landlord, Michael Lesesne, raised the tenants’ rents by hundreds of dollars each month. The tenants objected to the rent increase and the judge ruled in their favor. However, Mr. Lesesne refuses to comply with the court order to return the money and reduce the tenants’ rents. Meanwhile, he also neglects basic maintenance on the building. But tenants aren’t backing down…" Continue reading here.
Finance Fund celebrates mid-year milestones:
"Every company has its own culture. At Finance Fund, we are fueled by a shared passion for helping people and communities overcome barriers to economic prosperity. We work hard to help our clients find financing solutions to address business challenges and we are very good at helping them get to 'yes' when traditional lenders have said 'no...'" Continue reading here.
Share your story:
Do you have insights or impact stories to share? Use the comments section, and make sure to post links to your blogs if you have them!
Image via Grameen America.