Loyola Microloan Cooperative

Vital Stats

Patrick D

Baltimore, MD

  • people helped 5
  • People Doing It25

The Problem

The Loyola University Maryland: Microfinance Club hopes to promote and engage in direct investment in entrepreneurs and businesses in need of crucial loans to better their own lives. Our object is to be productive member of a movement to fashion a world in which as many materially poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, including not just credit, but also savings, insurance, and fund transfers. We also seek to create an environment of cooperation on campus in which students, faculty and staff become more educated on issues affecting marginalized people around our world as part of the Jesuit mission of being women and men for and with others.

Plan of Action

Earlier in the semester I scheduled a meeting with 5 professors from various departments in the Business School. They aided me in the development of our mission statement and signed on as future supporters and aids in the creation of this organization. The next step is to create the club and to grow it. We will utilize the website Kiva.org to invest in entrepreneurs throughout the world and in the United States. Students will be responsible for selecting and funding microloans to these businesses. Eventually I will partner with a community reinvestment organization named 'The York Road Initiative' which will aid our neighborhood in 'sprucing up' its businesses as a lure for future development. Microloaning can and should be an integral part of this initiative. I hope to expand the program over the course of the year with student and faculty advise.
Go
Millennium Dev Goals
Homelessness and Poverty

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