Trustee: Bayou Microfund

Houston, TX


Overview

Why are you interested in becoming a Trustee?
I have been passionate about Kiva and when Kiva Zip was launched, I wanted to be part of it. I first started off by personally becoming a trustee , but after seeing the interest and University of Houston Micro finance program, I decide I have to built an organization to make this happen. Bayou Microfund is that organization partnering with Kiva Zip to ignite micro lending in Houston
What is the mission of your organization?
To incubate micro-entrepreneurs and fund them with interest-free loans.

Borrower Due Diligence

How will you decide who to endorse as a borrower? What due diligence will you conduct?
For the first few rounds, I will be the decision maker. We hope to built up a volunteer base to do the other rounds. The borrowers are very carefully evaluated, and then selected by a pitch and then an interview. We are looking for a) Will this business be a success? b) The entrepreneur behind the business, can he make it? c) Track record, credit and character We have a fairly good process in place The entrepreneur has to attend a weekly 3 hour class for 3 months, run by the University of Houston Micro-finance Dept on 1. Skill for living: How to manage your personal finance 2. How to run a business 3. Planning and launching your business After they graduate, they are allowed Pitch for funding. We have, in the first round, seen some very good candidates for funding.

About Bayou Microfund


Location: Houston,
Total loans: $59,000
Paying on time: Not enough data
Paying back late: Not enough data


All Loans for this Trustee