Justine Petersen
Scale-up Strategy:
| Three key strategies |
- Revamp and improve communications
- Raise public image
- Develop and expand the Board of Directors
Progress Update as of May 2009: |
- Completed an Agency Brochure, Web site and collateral materials.
- Facilitated several media articles including a Reuter's interview that was picked up by Forbes and others.
- Designed a database to build and maintain the donor base and contact list, and set up MarketVolt (an online communication and marketing tool) to communicate directly with donors and contacts.
Background:
Founded in 1997, Justine Petersen provides microenterprise, IDA and housing assistance services in its work to assist low-income residents in the region. Core Microenterprise Services: |
| |
- Microenterprise loans
- One-on-one counseling for potential borrowers
- IDAs
- Financial literacy training using the FDIC’s Money Smart curriculum
Highlights: |
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Added two board members with finance experience and completed two board trainings on fund-raising.
- Raised almost $200,000 from non-governmental organizations.
- Originated 54 loans in 2008 to African-American owned businesses in North City and 9 loans to Hispanic-owned businesses.
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Current Scale:
FY2006: 315 clients and 171 microloans
FY2007: 396 clients and 230 microloans
FY2008: 508 clients and 383 microloans
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Scale Projections:
FY2009: 590 clients and 440 microloans
FY2010: 790 clients and 570 microloans |
Learning Questions:
Efficiency: What can JP learn from other high-volume lenders in the group about how to build the infrastructure and staff capacity to support future growth in an efficient manner?
Risk-based pricing: How have other lenders approached risk-based pricing, and what have they learned?
Capitalization of loan fund: What sources of capital have other grantees used to expand their loan fund? What are the types of relationships they have created with investors?
