8/8/2019 Fall Update - Capital Good Fund - Melanie

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8/8/2019 Fall Update - Capital Good Fund - Melanie

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Inputs:

-money from Starr Fellowship

-three full-time staff members

-community partners

-guidance from Starr Fellowship and peers

Activities:

-collaborate with community partners about group lending

-Research existing models of group lending in the United States

-carry out other tasks for the Capital Good Fund

Outputs:

-set up meetings to go over potential for organization collaboration and for identifying potential focus

group participants, and focus groups are carried outtake advantage an incredible opportunity to

organize and implement a group-lending program with the Amos House to help borrowers gain access to

employment through loans to reinstate drivers licenses. This project is substituted for organizing focus

groups and for a more theoretical approach for my outputs for the Starr Fellowship.

-better understanding of the inner workings and bottlenecks of help running a non-profit organization.

-create Continuous Group Training program for the peer lending project that builds internal CGF capacity

for implementing a sustainable Peer Lending Program down the road.

-build relationships with other community organizations to propel the cause and solidify to community

support of the peer lending program.

Outcomes (intended):

-implement an effective and flexible group lending model of CGF since community outreach and peer

lending pilot shows thatgroup lending is feasible and necessary for low-income community members in

Providence

8/8/2019 Fall Update - Capital Good Fund - Melanie

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Measurement Original Target Original Date Status

Better

understanding of

the barriers and

challenges toaccessing credit

among very low-

income community

members

-# and % of focus

group participants

under a specified

income that nave nocredit or poor credit

and who are

considered too risky to

get an individual loan

from the Capital Good

Fund (ideally 100%)

End of July Focus groups not carried out due to the logistical challenges.

However, Amos House peer lending program data shows

that 100% of participants have no credit or poor credit and

would not be able to get a loan from a traditional bank.Similarly, though not focus groups, the partnership that I

established with the Dorcas Place and presentations with

both Dorcas place staff and clients qualitatively showed that

the majority of interested clients could not get loans from

traditional banks and would be too risky to get an individual

loan from the Captial Good Fund

Build CGF

organizational

capacity to propel a

peer lending

initiative

-1 full-time loan officer

-Creation of peer

lending program

through establishment

of program write-ups

and a database of

information with

respect to the peer

lending program

End of July One full-time officer hire, as well as one full-time business

workshops director

Creation of Peer Lending Continous Group Training Packet,

creation of information sheets, creation group-lending

Passbook that can be easily updated, formation of

community partnerships with Dorcas Place, Amos House

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Measurement Original Target Original Date Status

-# of borrowers that

open up a

bank/savings

account-Borrowers in group

lending program

save more with the

compulsory savings

program

All borrowers in peer

lending program open

up bank or savings

accounts10% of biweekly loan

repayment is put into a

savings account

By the

implementation

of a peer lending

program

So far, the 4 borrowers in the Amos House Peer Lending

Program have saved 10% of their biweekly loan

-All borrowers in the Amos House program have opened up a

bank or savings account

-Average borrower

credit score

increase in one year

-% default rate per

group

-number and

average amount of

subsequent loans

loans taken out

from CGF by each

group member

-Uncalculated Ongoing Too early to tell