February 28th, 2012
SEG’s Local Loans Project, selected for the competition, works to combat poverty in the Grinnell community through emergency, no-interest microloans to pay for things like medical expenses, automobile repairs, education, and repayment of high-interest loans from payday loan sharks.
The staff of Grinnell College’s student newspaper is also pulling for SEG:
SEG, Grinnell’s student-run micro-financing group, has long been commended by Grinnell students, administrators and trustees. They started loaning money in developing countries and became a certified non-profit in Fall 2009. Last year, they began a campaign closer to home, granting emergency microloans to Poweshiek County residents.