One of the strong influences contributing to POCA's development is Professor Mohammad Yunus of the Grameen Bank in Bangladesh, recipient of the Nobel Peace Prize in 2006. Professor Yunus is credited with the development of the concepts of microfinance and microcredit, which allow people who are too poor to receive conventional loans to start and expand small businesses (sound like anyone you know?)
Did you know that co-ops can loan money to their members at whatever interest rate they choose? Thanks to a donor who believes in POCA’s mission, we have funding for a few loans. It took us almost a year to put together, but volunteers in the POCA Finance Circle are SOO excited to announce we are ready to lend money to POCA members in the following categories (link is to the loan application):
Underserved Area Clinic Startups– If you have a hankering to open a clinic and just can’t figure out how to put the money together, this is the loan for you. Up to $7500 available.
Employee Ho!– You are a POCA punk and you have your eye on that juicy employment opportunity at a POCA clinic but you just don’t have the funds for a move? We’ve got you covered! $1000-3000 available.
BDC Expansion– Your clinic is on the verge of becoming tungsten but you need a few $$$ to tear down a wall and buy a couple more chairs – we’re on your side! Up to $5000 available.
Second Time Plus– If your patients are bugging you to open another clinic in another part of town, this may be a big help to you. Up to $7500 available.
Pretty nice, don’t you think? If you need a low interest loan that fits into one of these four categories, fill out the appropriate application and send it to firstname.lastname@example.org. Extra consideration is given to members who are working with a Clinic Success Mentor. POCA’s Finance Circle will review all applications and make recommendations to the General Circle. The General Circle will have the final say in approving the loans.
Remember, these are loans, not grants, and the sooner the money is repaid, the sooner it can go back out and do more good POCA work! So just ask for what you need, and repay as soon as possible. Then on the heels of your success, consider becoming a donor in POCA’s Microloan program.
POCA’s micro-loan program is just one of many ways that POCA and POCA volunteers are working to make affordable acupuncture more accessible. Let’s put this money to good use and reach more patients and create more jobs!
(This post is copied in the Fishbowl Forum with permanent links to loan documents.)
POCA Finance Circle:
Steve Kingsbury, Sarah Lefkowich, MM Dobson, Molly Fread, and Craig Labadie