Yale University’s group, the Elmseed Enterprise Fund, is believed to have been the first; Brown and Rutgers Universities and Grinnell College have since developed particularly robust programs. The clubs, often established as nonprofits, have helped hundreds of university neighbors around the country start barbershops, bakeries, and hot-dog stands with modest loans, usually less than $5,000. Full Article at The Chronicle
“Now imagine if, in addition to funding cows and yarn in distant Third World countries, the money you donated went toward fixing up a broken car that enabled someone in our town of Grinnell to drive to work when they had no other means of transportation.”
A student-organized group at Grinnell College, the Social Entrepreneurs of Grinnell, recently obtained 501(c)(3) certification to independently make microloans. The Social Entrepreneurs, or SEG for short, loan both to specific organizations and groups around the world as well as to individuals in the local community through Mid-Iowa Community Action (MICA), a recently developed partnership. Full Article at Poweshiek Iowa Development