Not Your Average Internship
↑ TopYou'll spend your summer at Lend for America working with real people, real businesses, and real money. You'll get to meet entrepreneurs, review loans, and see how microfinance works in the U.S. You'll unlock your ability to lead a Campus MFI.
Want to learn more?
Contact us at info@lendforamerica.org.
Location: New Brunswick, NJ
Kick-Off Training
Your summer starts with a classroom introduction to US microfinance and a social gathering with its leaders.
Location: Chapel Hill, New Brunswick, or Providence
Microfinance Immersion
You'll spend 8 weeks learning from hard working Americans and microfinance practitioners about the opportunities for microfinance to transform business owners and communities by reviewing loan applications, opening savings accounts, and coaching clients. All of your travel expenses are paid and you'll receive a $2,500 stipend.
Location: Your School
Take Off The Training Wheels
After the summer, you'll launch a new Campus MFI and join a national movement of social entrepreneurs working to build a better country through microfinance. After a few weeks, you'll serve your first client, make your first loan, and soon you'll be hooked.
Host MFI Locations
↑ TopThese organizations were selected for being leaders in the Campus MFI movement. Each group has been uniquely successful at developing a strong presence in their local community through relationships with clients and partner organizations.
Chapel Hill, North Carolina
“Microsavings and homelessness: A relationship based approach to financial services”
Founded in 2009 at UNC-Chapel Hill, CEF provides matched savings accounts, micro-loans, financial and small business education, and relational support to individuals experiencing or at-risk of experiencing homelessness.
Lend for America fellows will be engaged primarily in CEF’s Safe Savings Program. This program provides an innovative, goal-oriented savings account to enable low-income, under-banked households to achieve savings dreams and plan for their financial futures.
A Day at The Community Empowerment Fund
| 9:30am | Meet a group of CEF clients at the Chapel Hill office for our weekly coffee hour. |
|---|---|
| 10:30am | Sit in on a meeting to assist CEF member with a saving plan to move out of the shelter. |
| 12:00pm | Grab lunch with another staff member and one of CEF’s community partners. |
| 1:00pm | Staff CEF Finance Office Hours at the women’s shelter, helping residents pull credit reports, open bank accounts, and build budgets. |
|---|---|
| 3:00pm | Work on revising curricula for a financial literacy class this weekend. |
| 5:00pm | Participate in a CEF executive staff meeting with your fellow summer staff members. |
New Brunswick, New Jersey
“Growing strong businesses, making loans and technical assistance”
The Intersect Fund is designed to provide low-income entrepreneurs the training, funding and assistance they need to ensure their hard work pays off. Because the Intersect Fund earns a sizeable portion of its revenue through course fees and interest payments, it is integrally beholden to its clients.
Since 2008, the Fund has served over 500 entrepreneurs through training, lending and consulting, improving and adapting programs under guidance of their clients.
A Day at The Intersect Fund
| 9:30am | Go with loan officer to visit Maria’s Bodega |
|---|---|
| 10:30am | Attend Chamber of Commerce networking meeting to recruit loan applicants |
| 11:30am | Work on underwriting a credit builder loan application |
| 12:00pm | Grab lunch at local eatery |
| 1:30pm | Observe one on one consulting for start up transportation business |
|---|---|
| 3:00pm | Meet client to discuss building her credit |
| 4:30pm | Jump on Lend for America check in call |
| 6:00pm | Do a site visit for prospective borrower with loan officer |
Providence, Rhode Island
“Consumer lending and financial capability”
The Capital Good Fund (CGF) is a financial empowerment organization whose mission is to provide equitable financial services that empower clients to climb the ladder out of poverty. CGF offers small loans, Financial Coaching and free tax preparation to those in need.
Since its inception in January 2009, CGF has made 167 loans totaling $180,000 and has graduated 103 people through business and Financial Coaching. In 2010 alone they saved or created 39 full and part-time jobs and increased the credit score of 50 people. Lend for America participants will work directly with CGF’s innovative financial capability coaching program.
A Day at The Capital Good Fund
| 10:00am | Phone call with referral partner in community |
|---|---|
| 11:00am | Observe financial coaching session |
| 12:00pm | Lunch with financial coaching fellow |
| 1:30pm | Review loan application for prospective client interested in computer loan |
| 2:30pm | Debrief on financial coaching session |
|---|---|
| 3:00pm | Help underwrite a loan |
| 4:00pm | Staff meeting to discuss scaling issues |
| 5:00pm | Work on campus MFI |
Apply
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Selection Process:
- Round 1: We want to get to know you. Submit your application by March 10.
- Round 2: Show us you're the person we're looking for by completing the Lend for America Challenge.
- Round 3: Meet the team through video interviews.
Eligibility criteria:
- Are you currently enrolled at US based university?
- Are you able to commit to program dates from Jun 3-Aug 2 2013?
- Have you started working on a campus MFI in the last 12 months?
Top 10 FAQs
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Campus MFIs
↑ TopSince 2001, college students across the country have led the development of microfinance institutions to spur economic development in their campus communities. The organizations below are members of the Campus Microfinance Alliance, a collaborative effort started in 2009 to support the growth of the student-led microfinance movement.
– Gaurav Kikani '14, President
– Jungwon Byon '14, CEO
– Maggie West '09, Program Coordinator
– David Bailey '13, CEO
– Kathy Andersen '13, Co-Facilitator
– Andy Posner '08, Executive Director
– Joe Hark '14, CEO
– Alissa Orlando '12, COO
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– Rohan Mathew '09, Executive Director
.– Alex Rosenthal '12, CEO
About Us
↑ TopThe Need
Low income Americans need your help. We are familiar with the dichotomy between rich and poor in developing countries, but these inequalities exist in our own backyards. In the US, dozens of campuses prosper while communities just off campus are marginalized.
While unemployment remains too high, job creation among large companies in America is stagnant and communities are increasingly reliant on its small businesses to create new jobs. With limited donor dollars in today’s economy, we need a cost effective solution to impact job creation and small business growth. Lend for America is that solution.
The Solution
Students around the country are tired of waiting for a solution so they have decided to create their own. Using the proven methods of microfinance, Campus MFIs are offering financial products and services to America’s poor that others’ have forgotten.
Campus MFIs connect human capital and resources in America’s neighborhoods with the talent and energy of college students. Since 2008, nearly a dozen campus MFIs have made microloans totaling $350,000 and served hundreds of clients. Learn more at campusmfi.org.
Contact Us
↑ TopSend us a message
Drop us a line using the form at right. We’ll respond within one business day.
You may also email us directly:
info@lendforamerica.org