Overview

Why are you interested in becoming a Trustee?

Charitable Minds is a Social Purpose Corporation (SPC) tailored to accelerate and unite nonprofit organizations, Social Purpose Corporations, B-Corps, CoOps, professionals, volunteers, and enthusiasts in a collective effort. We aim to integrate executive leadership solutions and strategic approaches, cultivating success for individuals, nonprofit organizations, collaborative communities, and startups. Our ultimate goal is to establish a resilient, result-oriented, and dynamic ecosystem that thrives on sustainability and transformative outcomes. As a SPC, it is our duty to be a Trustee and expand economic good.

What is the mission of your organization?

Our mission is to foster collaboration, exchange knowledge, and amplify the economic development impact for the advancement of social good.

Borrower Due Diligence

How will you decide who to endorse as a borrower? What due diligence will you conduct?

As a KIVA Loan Trustee, Charitable Minds is committed to carefully selecting borrowers and ensuring that they are suitable candidates for a Kiva Micro Community loan. Here's how we approach the process: Needs Assessment: Charitable Minds conducts a thorough needs assessment to identify individuals and businesses with genuine financial needs that align with the principles of Kiva's mission. Alignment with Kiva Criteria: We ensure that potential borrowers meet eligibility criteria, which may include factors such as entrepreneurial goals, financial need, and the ability to repay the loan. Community Impact: Our focus is on selecting borrowers whose success will have a positive impact on their communities. We prioritize candidates who demonstrate a commitment to community development and the potential for the loan to contribute to local economic growth. Transparent Communication: Charitable Minds maintains transparent communication with potential borrowers to clearly explain the terms of the Kiva Micro Community loan, including the repayment schedule and any associated fees. Education and Support: We provide educational resources and support to borrowers, ensuring they understand the responsibilities and benefits of the loan. This includes financial literacy training to enhance their ability to manage and grow their businesses. Diversity and Inclusion: Charitable Minds is committed to promoting diversity and inclusion. We strive to select borrowers from a diverse range of backgrounds, ensuring equal opportunities for all qualified candidates. Due Diligence: Before endorsing a borrower, Charitable Minds conducts due diligence to verify the information provided, ensuring accuracy and authenticity. This includes assessing the borrower's creditworthiness and evaluating their capacity to utilize the loan effectively. There will be a committee of community members to conduct diligence references and reports, then brought up for voting: majority rules. Monitoring and Reporting: After disbursing the loan, we actively monitor the progress of borrowers and regularly report to Kiva on their repayment status and business development. This helps maintain accountability and transparency throughout the loan term. Continuous Improvement: Charitable Minds is committed to continuous improvement in the selection and support of borrowers. We analyze the outcomes of loans, gather feedback from borrowers, and adjust our processes to enhance the effectiveness of the Kiva Micro Community program. Through these measures, Charitable Minds aims to contribute to the success of Kiva Micro Community loans by selecting suitable candidates and fostering an environment where borrowers can thrive and make a positive impact on their lives and communities.