MaRS Centre for Impact Investing is now seeking a Senior Associate, Capital Advisory Services! From persistent poverty to climate change, we face entrenched social and environmental problems. Fortunately, a growing number of charities, non-profits, co-ops and for-profit companies are building business models to tackle these problems. They are turning to investors for the financing to […]Read More ›
Video: Social Finance Best Practices: Alex Kjorven
On April 8 2011, MaRS hosted nine practitioners of social finance from across the spectrum to speak about the best (and worst) practices in social finance. Hear personal stories and interesting examples from Canada’s emerging social finance marketplace. With five minutes each and drawing on their experience and research, these regular contributors to SocialFinance.ca highlighted successful and/or poor social finance practices. A question-and-answer period rounded out the session.
Alex Kjorven was the Development Manager at the ACCESS Community Capital Fund at the time of this event and spoke about practices to avoid when practicing microfinance in Canada. How do you ensure that your staff are properly trained to deal with clients? How do you properly evaluate potential loan recipients? “If we try too hard to make it perfect, we’ll actually end up screening out the very people we are trying to help.”
ACCESS Community Capital Fund helps individuals without collateral or credit history obtain an affordable loan to improve their standard of living through entrepreneurship. Based in Toronto, Ontario, ACCESS is a Canadian registered charity granting micro-loans where the abilities, skills and commitment of the applicant in conjunction with the strength of the business plan are key decision criteria.
We invite you to share your thoughts about this video below. What is your key takeaway from Alex’s message,and how does it inform your work?