Microfinance for Low-Income Entrepreneurs in U.S.

by Lending for Evanston and Northwestern Development
Vetted
Jun 25, 2012

Recapping Another Year

Celebrating LEND
Celebrating LEND's first succesful loan repayment

To our supporters:

As we look back on another exciting year, we are delighted to share some significant milestones LEND reached in the past few months.

LEND's first borrower, Gigi Giles, completely repaid a loan she received to renovate the interior of her barbershop. Evanston Mayor Elizabeth Tisdahl, Alderman Braithwaite (1st), and Alderwoman Holmes (5th) joined us to commemorate Gigi's achievement. This event also marked the successful implementation of our model, and proves that given the proper care and diligence, LEND can fundamentally transform local businesses. Links to press coverage of the event can be found below.

Our business training services have picked up tremendously this year. Five small businesses completed the eight-week training, covering a wide range of topics including bookkeeping, marketing, and improving their operations. We will resume our business training in the fall and look forward to our incoming class of passionate entrepreneurs.

As our borrowers make progress towards successful repayments, we are continuing to approve new loans. In the past two months, we disbursed three new loans to local entrepreneurs. By providing financing to a start-up jewelry boutique, fitness studio, and a handyman service, we continue to demonstrate that LEND is able to support a diverse pool of small businesses. To date, we have now made five loans totaling $12,000 in deployed loan capital.

We are thankful for your support as we continue to make vast strides as an organization. Your contributions have made our growth and success possible. This year has been crucial in demonstrating the viability of LEND’s overall model and approach towards working with risky borrowers. The coming months present a number of exciting new opportunities for expansion and enhancing our impact in the local community. We are humbled by the excitement  about our work, and we are proud to be making progress towards a brighter future.

Please feel free to contact us at lend@u.northwestern.edu -- we would love to hear from you.

Thank you, as always, and best regards,

Gaurav Kikani

President
Lending for Evanston and Northwestern Development (LEND)
lend@u.northwestern.edu
www.lendevanston.com 

 

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Organization Information

Lending for Evanston and Northwestern Development

Location: Evanston, IL - USA
Website: http:/​/​www.lendevanston.org
Project Leader:
Victoria Chi
Evanston, IL United States
$17,816 raised of $20,000 goal
 
 
282 donations
$2,184 to go
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