Grameen Foundation : Where we work : United States : The PLAN Fund
PLAN Fund
Achieving Independence Through Local Partnerships
| Status snapshot as of March 2008 | |
| Active clients | 65 |
| Loan portfolio (USD) | $31,843 |
| Portfolio At Risk >30 days* | 33% |
| * Value of all loans outstanding that have one or more installments past due more than 30 days | |
The PLAN Fund of Dallas, Texas is a microfinance institution (MFI) started in 1999 as a collaboration between Grameen Foundation and Dallas City Homes, a non-profit low-income housing developer. After two years of incubation under Dallas City Homes, and three more under Grameen Foundation, the PLAN Fund became an independent nonprofit in February 2004. The PLAN Fund leverages local partnerships to secure the resources needed to reach growing numbers of low-income Dallas families. It has served more than 1,000 microbusinesses, extending loans in amounts averaging $1,400 in addition to business training and networking opportunities.
Outreach:
The PLAN Fund aims to increase outreach to more than 500 active members and nearly 200 active borrowers by 2008. In order to make this vision a reality, new resources will be required for both loan capital and operational support.
Grameen Foundation support:
Since its birth as an independent organization in early 2004, Grameen Foundation has provided the PLAN Fund with $161,284 in grants and loans to support its operations and expand its loan portfolio. We have also provided consulting and technical assistance on developing medium- and long-term business plans delivering credit services. Grameen Foundation has sponsored the PLAN Fund staff to study innovative approaches developed at Project Enterprise which have been adapted to meet the needs of its Dallas communities.
Impact:
The PLAN Fund has recently expanded its ability to serve low and moderate-income entrepreneurs through the use of key strategic partnerships. In June 2006, it launched a new entrepreneur program at the Business Assistance Center (BAC) at the MEED Center, a multicultural center dedicated to promoting economic development in east Dallas and its surrounding area. The BAC classes and the PLAN Fund’s grassroots entrepreneur program's emphasis on basic business training, group support and small business loans is proving to be a good strategic fit that is having a positive impact on growing new entrepreneurs.
In 2006, PLAN Fund and ACCION Texas joined forces to give Dallas residents improved access to financial services and business training. The cross-linkages will expand the available funding and training opportunities for current and potential clients. The clients ACCION Texas and the PLAN Fund serve are generally deemed “unbankable” by traditional commercial banks because they do not have checking accounts or credit cards and cannot get loans at market rates.
Visit The PLAN Fund Business Directory for opportunities to support PLAN fund entrepreneurs.
Learn more at: www.planfund.org
Grameen Foundation : Where we work : United States : The PLAN Fund
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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