OUR MicroLending. Changes in US & Cuba: The impact on Florida. Opening doors to your future. The Microcredit Impact October 13, 2011
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1 OUR MicroLending Opening doors to your future Changes in US & Cuba: The impact on Florida The Microcredit Impact October 13, 2011
2 The Question: What People know about Microcredit? That somewhere near India (Bangladesh ) around 1973 That some very poor people received very tiny loans and they paid it very well.. That someone named Yunus in 2006 a Nobel Prize and Grameen Bank Most of that people were women or groups of them
3 The Question: What People know about Microcredit? Cont That somewhere in India (Andra Pradesh ) there was a crisis with some MFI s as were said by NY Times and Wall Street Journal That Mr. Yunus some months ago was fired out of his own Bank by the financial authorities of his country PARADIGM: Microcredit = Poor People = Women = Third World = Sub Prime Loans
4 But People don t know about Microcredit That around 1971 somewhere in Brazil an American NGO named ACCION Int l made some tiny loans to That in some countries some microcredit Banks are bigger and more profitable than some commercial banks That microcredits are for business purposes: WC, FA, expand or develop That Mr. Yunus affair was a political issue
5 But People don t know about Microcredit (cont.) That in Central and Eastern Europe MFI s have a huge development in microcredit That MFI s are present and working in USA more than 30 years ago and today we have some for-profit MFI s That MFI s are different than: Shark Loans, Check Cashing Stores, Pay day Loans That microcredits are different than personal or consumer loans That microcredits are not Sub-Prime Loans and that borrowers in some cases are better than some corporate borrowers That microcredits are made based on a very clear Methodology
6 But People don t know about Microcredit (cont.) That MFI s clients are: Low and moderate income entrepreneurs Unbanked or underserved by traditional banking Very young business Needs no conventional collateral Less than perfect credit ( in cases no credit score) Home based businesses Staging the credits is one of the basis of the Method
7 People should know about Microcredit That Microbusinesses are different animals than Small Businesses, and different are their loans needs, so the credit approach to them must be different That it is very difficult for banks to do microcredits.. Microbusiness and unbanked people demands financial services similar to That the best suited organizations to meet those needs are the specialized MFI s been them for profit or non for profit
8 People should know about Microcredit That incentives to create microenterprises help to reduce unemployment and welfare benefit payments That microcredit involves extensive coaching, monitoring and investing time and money in the pre and post credit extension phases That microloans are often used to pay off far more expensive loans from moneylenders That microlenders charge relatively high interest rates in most cases have no choice: the small size of the loans, the relatively large costs of processing them and collecting payments, drive up the interest rates
9 People should know about Microcredit (cont.) Microcredit is more than helping poor getting out of poverty, it s more than helping them to be included in the financial system, or providing them financial literacy. It s main value comes from enlightening them to understand that they have the capacity to choose the future they really want to live. It is the most efficient promoter of free enterprise and the spirit of entrepreneurship That it s real value is the empowerment of That An unmeasurable social impact of microcredit is produced with every dollar that is lended That the impact of microcredit in today s cuban economy should have a bigger multiplier than
10 Maybe today Cubans Dream or Nightmare The Dream: My own business My own boss Micro-Entrepreneur by VOCATION The Nightmare: Unemployment Micro-Entrepreneur by NECESSITY
11 The Cubans Dream IDEA Funding: Savings, Friends & Family MFI s Microfinance Institutions Banks Markets
12 OUR Cuban Target Market Big Company Medium-size Company Small-size Company Small Business Micro-size Company Micro enterprise Extended Accumulation Simple Accumulation Subsistence EXTENDED ACCUMULATION: Business & Personal finances are clearly separated. SIMPLE ACCUMULATION: Business and Personal finances are somewhat separated. SUBSISTENCE: Business and Personal finances are clearly linked to each other.
13 OUR MicroLending ISLA Microcredits Program Borrowers Application: OUR MicroLending Specialist On site application Via online Internet application OUR MicroLending disburse the Loans $$$ $$$ Institutional Investor Fund Loans Repay the Loan / Payment Schedule Return $$$ OUR MicroLending collect the Loans. Information and Reports to Investor ISLA Last Beneficiary (Official Permit) In Situ Investment Follow Up
14 Market Customer Profile OUR MicroLending clients in USA are: Low and Moderate Income Entrepreneurs Can not access bank financing Why: New Business (< 2 years) No conventional Collateral Less than perfect credit Need small amounts of capital Cultural and language barriers Home based business Unbanked and underserved by traditional banking
15 OUR Actual Market South Florida
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