This Silicon Valley Microfinance Network (SVMN) meeting will take place on Tuesday, June 22, 2010 and will feature Jonathan Morduch, Professor of Public Policy and Economics at the NYU Wagner Graduate School of Public Service, Managing Director of the Financial Access Initiative, and author of Portfolios of the Poor: How the World’s Poor Live on $2 a Day.

Purchase Portfolios of the Poor in advance.

Published in 2009, Portfolios of the Poor is the culmination of a research project that spans ten years and three countries, and examines the cash flow of almost 300 households among the poorest of the world. The result is a humanizing insight into the economic lives of the global poor, and a valuable resource for attempting to improve those lives. Jonathan Morduch’s book is one of the most highly regarded texts on economic development in the microfinance sector and is used as a textbook in university classes across the nation.

SVMN is proud to present this unique opportunity to hear Jonathan Morduch discuss his book and answer our questions. We look forward to seeing you there!

To register, please click on the SVMN registration link here (Order now – seating is limited!):

When: Tuesday, June 22, 2010

6:00-6:30 — Sign-in, dinner, networking
6:30-7:15 — Intros and speaker presentation
7:15-8:00 — Q&A
8:00-8:30 — Networking

Where: Omidyar Network Office

1991 Broadway St, Suite 200
Redwood City, CA 94063

(directions here)

Cost:

in advance: $20 regular attendee | $10 students,  non-profits (w/ ID)
at the door: $30 regular attendee | $20 students & non-profits (w/ ID)
(includes dinner + drinks)

This event is held in partnership with Omidyar Network, a philanthropic investment firm that creates opportunity for people to improve their lives. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization has committed more than $330 million to for-profit companies and nonprofit organizations that foster economic advancement and encourage individual participation across multiple investment areas, including microfinance, property rights, and government transparency. To learn more about Omidyar Network, visit www.omidyar.com.

Speaker Bio

Jonathan Morduch
Jonathan Morduch is Professor of Public Policy and Economics at the NYU Wagner Graduate School of Public Service, and Managing Director of the Financial Access Initiative (www.financialaccess.org), a consortium of researchers focused on financial inclusion. His research centers on microfinance, social investment, and the economics of poverty. He is currently developing a theoretical framework with Jonathan Conning for understanding how governments and philanthropists can use market forces to create social change.

Morduch is co-author of Portfolios of the Poor: How the World’s Poor Live on $2 a Day (Princeton 2009) and The Economics of Microfinance (MIT Press 2005, 2nd edition 2010). He has taught on the Economics faculty at Harvard University, and has held visiting positions at Stanford, Princeton, and the University of Tokyo. Morduch has worked with the United Nations and World Bank, and advises global NGOs. He is Associate Editor of the Journal of Economic Perspectives and on the board of the Journal of Globalization and Development.

Morduch holds a BA from Brown and Ph.D. from Harvard, both in Economics. He was awarded an honorary doctorate from the Université Libre de Bruxelles in December 2008 in recognition of his work on microfinance.

This Silicon Valley Microfinance Network (SVMN) meeting will take place on Monday, June 14th, 2010 and will feature Beth Porter of the United Nations Capital Development Fund and Chuck Waterfield of Microfinance Transparency.

During this event, Beth and Chuck will closely examine the evolution of consumer protection, the drivers that lead to the global financial meltdown, and why transparent contracts and pricing within the microfinance industry is more crucial now than ever before.

In light of the financial crisis that is affecting organizations worldwide, it has become evident that players in the microfinance industry are responsible for maintaining ethical, transparent protection policies.  What are the challenges with implementing industry-wide client protection policies? How can MFIs reasonably operationalize client protection and transparency in a way that is not over-burdensome? How can investors be sure which firms are socially responsible institutions? What global efforts are underway to follow ethical, respectful and transparent practices? Finally, as consumers, what can we do to insure ethical practices are rewarded?

Beth Porter and Chuck Waterfield will bring their extensive knowledge of industry-wide policies and practices to the table to answer these questions and more.  Order your ticket now as seating is limited!

This event will be held in partnership with Omidyar Network and Women Advancing Microfinance (WAM).

Omidyar Network is a philanthropic investment firm that creates opportunity for people to improve their lives. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization has committed more than $330 million to for-profit companies and nonprofit organizations that foster economic advancement and encourage individual participation across multiple investment areas, including microfinance, property rights, and government transparency. To learn more about Omidyar Network, visit www.omidyar.com.

Women Advancing Microfinance (WAM) was created to support women in the microfinance industry.  One of our speakers this evening, Beth Porter, is a founder of WAM and director of the Northern Califorinia chapter. The mission is to advance and support women working in microfinance through education and training, by promoting leadership opportunities, and by increasing visibility of their participation and talent while maintaining a work/life balance. WAM advances its values by serving as a network for women in microfinance all over the world and as a platform for communication and collective action. To learn more about WAM, visit www.waminternational.org.

Register early!  Online registration closes the day of the event.  At-the-door admission is $10 more.

When: Monday, June 14, 2010

6:00-6:30 — Sign-in, dinner, networking
6:30-7:15 — Intros and speaker presentations
7:15-8:00 — Q&A
8:00-8:30 – Networking

Where: Omidyar Network Office

1991 Broadway St, Suite 200
Redwood City, CA 94063

(directions here)

Cost:

in advance: $20 regular attendee | $10 students, WAM Members & non-profits (w/ ID)
at the door: $30 regular attendee | $20 students & non-profits (w/ ID)
(includes dinner + drinks)

Speaker Bios

Chuck Waterfield

Chuck Waterfield has 25 years experience in microfinance, with a mixture of practical field experience (six years starting MFIs in both Haiti and Bolivia) and experience leading network strategy development (serving as microenterprise director for both MEDA and for CARE International). He developed Microfin, the most popular financial planning software in the microfinance industry and teaches business planning courses around the world, with more than 3,000 microfinance professionals having been trained in his courses. Mr. Waterfield’s current work as an independent consultant includes clients across the industry.

Currently on faculty of Columbia University School of International and Public Affairs, Mr. Waterfield was formerly on the faculty of the Boulder Microfinance Training Program for ten years and Southern New Hampshire University’s Microenterprise Development Institute for eight years. In addition to Microfin, he has a broad range of products and publications including the SEEP FRAME Tool, the CARE Credit and Savings Sourcebook, and CGAP Handbook on Management Information Systems. In 2008, Mr. Waterfield founded MicroFinance Transparency and works part-time in the institution as he continues his other responsibilities.

Beth Porter

Beth Porter has over 20 years of experience in microfinance and organizational development in 30 countries in Africa, Asia and Latin America. Ms. Porter is Policy Coordinator for Financial Inclusion at UNCDF where she provides policy guidance to the regional offices and supports the UN’s Special Advocate for Financial Inclusion, HRH Princess Maxima of the Netherlands, in advocating for inclusive finance at the highest levels.

She previously launched and directed an initiative at Making Cents International to build the capabilities of financial services providers and youth-serving organizations in the nascent sector of youth-inclusive financial services.  At Freedom from Hunger, Ms. Porter led development of program strategy and managed delivery of integrated microfinance services to 1.2 million women and their families in 16 countries.  Ms. Porter has provided extensive technical assistance and training in strategic and business planning, product design, and organizational effectiveness and operational efficiency, and is experienced in program appraisal, design and evaluation.  Ms. Porter worked as an independent consultant with numerous organizations and managed Save the Children/UK’s microfinance activities in Vietnam and Catholic Relief Services’ microenterprise programming in Senegal and Cape Verde.  Ms. Porter is Board Chair of the SEEP Network, on the board of Bolivian MFI CRECER, on the Steering Committee of the SMART Campaign in Microfinance, on the Advisory Committee of the Youth-Inclusive Financial Services Linkage Program of Making Cents International, and Chair of the Northern California Chapter of Women Advancing Microfinance.

Join us Wednesday, May 19th at Pete’s Tavern (across from the Ballpark) to network with the best and brightest practitioners, investors, and microfinance enthusiasts for drinks and great conversation.

Can’t attend the Microfinance USA conference? Come to this happy hour event to mingle with the industry’s best!

When: Wednesday, May 19th. 5:30pm – 8:30pm

Where: Pete’s Tavern (128 King St., San Francisco, CA 94107. On King Street, across from the ballpark.)

$1 minimum required to register; $5.00 donation recommended.  Cash bar.

Hosted by Opportunity Fund, SaveTogether, SeaMo & Silicon Valley Microfinance Network

We hope to see you there!

[March 30th speaker event recap written by Julie Menezes; photos taken by Brian DiCola.]

Microfinance in Our Backyard: Serving the Unbanked Community in the Bay Area

The March 30^th SVMN event took place at the Hanson Bridget law offices in San Francisco and featured guest speakers Rick Parras (CEO and Co-founder, Apoyo Financiero), Haydeé Moreno (Micro Branch Director and VP, Self Help), Caitlin McShane (Marketing and Engagement Manager, Opportunity Fund),  Devin McAlpine (Business Advisor, Opportunity Fund), and Marie Leggette (Opportunity Fund borrower.) The panelists discussed their experiences with micro lending in the Bay Area, and shared their organizations’ missions, accomplishments and business models. All three organizations extend microcredit, or plan to extend microcredit, to un-banked and under-banked individuals in the Bay Area. Approximately 40 million US households, or 106 million people, are financially underserved. 22.9% of California’s population is un-banked or under-banked.

Rick gave an overview of Apoyo Financiero (AFI), an MFI serving the unbanked Hispanic community with fixed interest loans. AFI allows those who lack credit history to take out loans in order to invest in opportunities, meet their needs, improve their standard of living, enable self-sufficiency of family members, and build their credit history. AFI contributes to economic development in the home countries and towns of their customers, as well as in the Bay Area. Many borrowers use the loans in order to open small businesses in their home countries. Loans range from $3,000 to $10,000 and are paid over a period of 12-48 months. Founded in November of 2007, Apoyo Financiero has extended more than $5.4M in loans.

Haydeé (Self Help) discussed the goals and strategy of Self Help’s Micro-Branch pilot launch. The mission of the Micro-Branch is financial progression for the un-banked and under-banked, which Self-Help plans to achieve through the right product mix, prices, and a brand promise of community and affinity. Self-Help conducted a survey of their target market to aid in developing a business strategy. Each branch they open will be a one stop shop for banking transactions, accounts and loans.

Caitlin (Opportunity Fund) began by discussing some key differences between microlending in the US, and international microlending. In the US, technical assistance is more readily available, and interest rates are typically lower. There is a smaller concentration of borrowers, and there are more regulations. Opportunity Fund is California’s largest microlender financing Bay Area entrepreneurs, helping them to earn, save, and invest.  In addition to access to capital, borrowers are also provided with one-on-one business advising. The organization’s small business microloans range from $1,000 to $100,000. Opportunity Fund clients have an 85% business survival rate, compared to a national average of 44% for similar businesses.

Devin McAlpine spoke about Opportunity Fund’s business advising process. He presented a case study and interviewed one of Opportunity Fund’s borrowers, Marie Leggette, successful owner of fashion boutique MarieDenee.com. Marie spoke about how Opportunity Fund assisted her and enabled her to expand her business. She discussed the loan process, and the assistance provided by Opportunity Fund after the loan was provided.

The event was hosted in partnership with Opportunity Fund, to support the upcoming Microfinance USA Conference. Learn more about the conference at www.MicrofinanceUSA2010.org.

The next Silicon Valley Microfinance Network (SVMN) meeting will be Tuesday, March 30th, 2010  and will feature Rick Parras, CEO & Co-Founder of Apoyo Financiero and Haydeé Moreno, Micro Branch Director & Vice President of Self-Help. Devin McAlpine, Business Advisor for Opportunity Fund will follow the presentations with a case study and interview with one of Opportunity Fund’s loan recipients.

During this speaker event, local microfinance practitioners and a borrower will speak about the successes, challenges and the current and future environment of domestic lending in the Bay Area.

This evening will showcase the business models of three unique, Bay Area microfinance initiatives, as well as a case study interviewing one of Opportunity Fund’s clients.

• Apoyo Financiero is a for-profit microfinance company servicing primarily the Hispanic un-banked community with personal loans.  Founded in 2007 and located in the Mission District of San Francisco, Apoyo Financiero has provided almost $5M in loans in the Bay Area in the first 2 years of operation.

• Self-Help is a nonprofit community development lender, credit union, and real estate developer that works with underserved individuals, organizations and communities. Self-Help’s Micro Branch Pilot is designed to provide a one-stop-shop of relevant products that can meet the needs of working families today and offer a path towards financial stability tomorrow.  The first Micro Branch opened in East San Jose in January, 2010.

• Opportunity Fund is California’s largest nonprofit microlender.  Opportunity Fund offers a unique blend of microfinance products, business advising, financial education, and community investment to help low-income families work toward economic stability. Since 1995, Opportunity Fund has provided $10 million in capital to more than 700 low-income entrepreneurs, and offered thousands of hours of business advising to over 2,200 clients. Three-quarters of their borrowers are minorities, and 60% are women.

Rick Parras, Haydeé Moreno and Devin McAlpine will bring their extensive, practical experience to the table.   This event will be hosted in partnership with Opportunity Fund, to support the upcoming May conference, Microfinance USA.

Register early!  Online registration closes the day of the event.  At-the-door admission is $10 more.

When: Tuesday, March 30, 2010

6:00-6:30 — Sign-in, dinner, networking
6:30-7:15 — Intros and speaker presentation
7:15-8:00 — Q&A
8:00-8:30 – Networking

Where: Hanson Bridgett offices

425 Market Street, 26th Floor
San Francisco, CA 94105
(directions here)

There is a parking garage (entrance on Fremont St) that costs $10 after 4:30pm.

Cost:

in advance: $20 regular attendee | $10 students & non-profits (w/ ID)
at the door: $30 regular attendee | $20 students & non-profits (w/ ID)
(includes dinner + drinks)

Speaker Bios

Rick Parras

Rick Parras is CEO & Co-Founder of Apoyo Financiero and has over 25 years of experience in the consumer finance industry, including 18 years at Citifinancial, a member of Citigroup. While at Citifinancial, he wa an instrumental part of the team that started Credito Familiar, a joint venture between Citigroup and Bancomer Financial Group. He helped to grow the network from two to 28 branches, and was responsible for branch operations and implementation of business model and business culture.

Mr. Parras was also involved with the acquisitions of Atlas Finance, the second largest consumer finance company in Chile; and Provencred, a consumer finance company in Argentina. Mr. Parras was responsible for implementing the business model and transforming the branch operations at Altlas Finance. Mr. Parras spent over 4 years on international assignments in Mexico, Chile and Argentina.

Mr. Parras established Apoyo Financiero in San Francisco’s Mission District in November of 2007. Since then, Apoyo Financiero has provided almost $5M in loans in the Bay Area.

Haydeé Moreno

Haydeé Moreno is Vice President of Self-Help, and Micro Branch Director.  The Micro Branch pilot is designed to meet the needs of working families who are un-banked and under-banked. The objective of the Micro Branch model is to provide a one-stop-shop of relevant products and services that can meet the needs of working families today and offer a path towards financial stability and wealth building tomorrow. The first Micro Branch opened in East San Jose on January 2010.

Prior to joining Self-Help, Ms. Moreno spent four years on Wall Street – as a financial analyst in the Mergers & Acquisitions group of JPMorgan, then as an equity research associate in the Specialty Retail Stores group of Goldman Sachs. After leaving New York, she spent a year in Austin, Texas and worked with the CDFI PeopleFund as a Strategy Consultant before moving to the Bay Area. Ms. Moreno holds a BBA from The University of Texas at Austin and an MBA from Stanford University.

Devin McAlpine

Devin McAlpine is a Business Advisor and manager of the Technical Assistance Department for Opportunity Fund.  In the time Mr. McAlpine has been with Opportunity Fund (since August of 2004), he has enjoyed watching the program grow from 30 loans a year to 200 a year.  Mr. McAlpine helps potential barrowers review contracts, provides post loan support and when necessary, supports business development if a borrower’s business is struggling.

Previously, Mr. McAlpine worked in Financial Planning and Analysis and a Controller for several technology companies during the dot com boom. He also lived in Madrid, Spain and taught English before returning to the United States.