Microfinance organization formed by UA students makes first loan to tornado victim

TUSCALOOSA, Alabama -- In the fall of 2009, a group of University of Alabama Honors College students began an initiative to grant small loans to low-income borrowers in rural Alabama.

This week, Forza Financial granted its first loan to Katrina Rollins, an Alberta business owner who lost her Curl Shoppe salon in the April 27 tornado.

Rollins, who left her shop just before the tornado struck, is now closer to re-establishing her business thanks to a $3,500 loan from the nonprofit organization.

“After last April, I was too discouraged to find help,” Rollins said.  “Now I’m better, and this loan will help me get back on my feet.”

The rest of the article can be found at : 

http://blog.al.com/tuscaloosa/2012/03/microfinance_organization_form.html

                                             

"When combined with information and communication technologies, microcredit can unleash new opportunities for the world's poorest entrepreneurs and thereby revitalize the village economies they serve."

Madeleine K. Albright and John Doerr, May 2004

"It is impossible to realize our goals while discriminating against half the human race. As study after study has taught us, there is no tool for development more effective than the empowerment of women." 


                                                                                              - Kofi Annan, 2006 

"Wars against nations are fought to change maps; wars against poverty are fought to map change."
                                                                                                                           -- Muhammad Ali 

Princy Ann Abraham Log #5

It is so easy to get caught in the drama that consumes the life of a college student. Graduating seniors are often anxious and worried about graduate school admissions and recruiting for new jobs. Some students worry about relocating back in with their guardians or moving into a new city. Whatever the issue may be, students are frequently consumed in their own mini “dilemmas.”

I find myself and my friends upset over things that we should feel grateful and privileged for having. Sometimes we fuss about not getting into one graduate school over another when we should realize that we are lucky to have gotten into some or to even have the opportunity to apply. Sometimes we are distressed over having to move back in with our parents after graduation, when we should be grateful that we have the option to do so.

Many, if not all of our borrowers, face a different reality than many students at St. John’s University. Their concerns are for the immediate well-being of themselves and their families. They are worried about whether they will have enough food for all the children in their family or if a child will survive from an illness that he or she has contracted.

These are the stories and ideas that I wish to engage callers in during this year’s GLOBE phone campaign. After meeting with Scott VanDeusen, who told us the importance of specifically explaining what GLOBE is to our callers, I have tried to imagine the situation of our borrowers as if it were my own life. During the campaign I hope to provide a concrete idea of who our borrowers are and the success stories that have been evident through donated funds.

Unfortunately for our customers their options in life are more limited than our own, but GLOBE managers and donors have the power to change that.

- Marketing and Fundraising Team 

"When combined with information and communication technologies, microcredit can unleash new opportunities for the world's poorest entrepreneurs and thereby revitalize the village economies they serve."

Madeleine K. Albright and John Doerr, May 2004

"Poverty is the denial of all human rights." Muhammad Yunus

Bake Sale 3/15/12

Ana Morales Log #1

 

Since many years ago, a quote of Mother Theresa has been stuck in my head, “If you can’t feed a hundred people, then just feed one.” This is the same attitude I get whenever there is any type of help needed. That is one of the main reasons why I joined GLOBE, knowing that one loan provided to one person can help out people living in poverty. We might not be able to provide hundreds of loans, but one at a time can slowly change the world. Although this is only the second week of class, I feel greatly satisfied with what the program does and I hope I can contribute to the best of my ability.

Last week, we discussed about different levels of poverty, which can be easily distinguished by comparing different countries. I was raised in Mexico, which is considered a developing country, so my views of poverty are certainly different than those of the rest of my classmates with different ethnic backgrounds. When I think about poverty, I think about lack of basic needs. Imagine not being able to wear proper clothing or not being able to have food in the table. Even worse, not knowing where you are going to spend the night. Coming to New York City has given me a different view of poverty, but I believe it is the third world countries that need the most help. That is why most of the outstanding loans are in Congo, Kenya, and Nigeria. As a class, hopefully we can provide more loans this semester, and I believe we can accomplish this goal and much more.

Along with the rest of the Accounting, Program Audits and Enterprise Development team, we have developed goals for this semester. Being part of this program will definitively involve a lot of outside class commitment, but it is definitively worth it. Just like Muhammad Yunus said, people deserve a “dignified root out of poverty.”

Some say that one thing leads to another; others say it is destiny.  Whatever the truth is, I believe there is a reason for me to be part of the GLOBE class of Spring 2012. Now that I am in it, I have nothing else to do but to give my best to this program and start changing the world with my actions.

- Accounting Team 

“The reasonable man adapts himself to the world. The unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.”
                                                                                       

                                                     - George Bernard Shaw, “Man and Superman”

Stephanie Pereira Lima Log #1

Readings, Logs, Events, oh my! We have so much to do and so much to learn! I will admit though, I am not a complete stranger to the GLOBE program; I was first introduced to GLOBE by a close friend in 2010 therefore I had a very general understanding of the class. After having read over the syllabus, two weeks ago, I could already foresee how wonderful and yet intensive this course was going to be. All reading assignments, events to attend, websites to visit, and topics to research are listed in detail---and I love it! Although we are short one person (from the typical five-person group) I see it as an advantage. We are all very hands on and proactive with our ideas, and after having listed our objectives for the spring 2012 semester I know that we all have great plans to succeed. We fully intend to bring awareness to the St. John’s community of the GLOBE program as well as fund raise as much as possible to benefit our donors.

Our first reading assignment was to read Chapter 3 “Back in Chittagong” in Dr. Muhammad Yunnus’ book, Banker to the Poor: Micro-lending and the Battle against World Poverty. This book is a personal memoir on Dr. Yunnus’ journey towards dedicating his life to eradicating world poverty. His decision to assist the poor, especially the landless poor, is brought to fruition once he returns to his home country of Bangladesh, after having studied in the United States as a Fulbright Scholar. He noticed that most scholars analyzed why people were poor but not how to end the continuous and vicious cycle of poverty. This realization is what most impressed me because he was able to successfully recognize the problem, shed light on the situation, and create a change. This was his “call to action”. Like Dr. Yunnus, we, the GLOBE Managers at St. John’s University, are also doing our part in responsibly creating a positive change. Naturally, on a much smaller scale yet nonetheless significant enough. I am extremely excited to see how the GLOBE course will develop our understanding of microfinance and its affect on reducing global poverty.

- Marketing and Fundraising Team 

“Small loans can transform lives, especially the lives of women and children. The poor can become empowered instead of disenfranchised. Homes can be built, jobs can be created, businesses can be launched, and individuals can feel a sense of worth again.”

—Natalie Portman
Academy Award®-nominated actress

Happy International Women's Day!

           Women are the real architects of society. ~ Harriet Beecher Stowe

International Women's Day!

International Women's Day (8 March) is an occasion marked by women's groups around the world. This date is also commemorated at the United Nations and is designated in many countries as a national holiday. When women on all continents, often divided by national boundaries and by ethnic, linguistic, cultural, economic and political differences, come together to celebrate their Day, they can look back to a tradition that represents at least nine decades of struggle for equality, justice, peace and development.

International Women's Day is the story of ordinary women as makers of history; it is rooted in the centuries-old struggle of women to participate in society on an equal footing with men. In ancient Greece, Lysistrata initiated a sexual strike against men in order to end war; during the French Revolution, Parisian women calling for "liberty, equality, fraternity" marched on Versailles to demand women's suffrage.

The idea of an International Women's Day first arose at the turn of the century, which in the industrialized world was a period of expansion and turbulence, booming population growth and radical ideologies. 

Full article can be found at: www.un.org

"The key to ending extreme poverty is to enable the poorest of the poor to get their foot on the ladder of development. The ladder of development hovers overhead, and the poorest of the poor are stuck beneath it. They lack the minimum amount of capital necessary to get a foothold, and therefore need a boost up to the first rung. "

Jeffrey D. Sachs

GLOBE Managers Spring 2012

"Microfinance stands as one of the most promising and cost-effective tools in the fight against global poverty."

Jonathan Morduch, Chair, UN Expert Group on Poverty Statistics

Speed Networking Event 2/16/12

GLOBE Bake Sale 2/11/12

Globe at the UN 2/8/12

"Microfinance recognizes that poor people are remarkable reservoirs of energy and knowledge. And while the lack of financial services is a sign of poverty, today it is also understood as an untapped opportunity to create markets, bring people in from the margins and give them the tools with which to help themselves."

Kofi Annan

“I believe that we can create a poverty-free world because poverty is not created by poor people. It has been created and sustained by the economic and social systems that we have designed for ourselves; the institutions and concepts that make up that system; the policies that we pursue.” 
― Muhammad Yunus