Trustee: Centro Community Partners
Why are you interested in becoming a Trustee?
We typically refer our entrepreneurs to local alternative lenders for funding. Becoming a Trustee will enable us to help our entrepreneurs obtain loans with more favorable conditions and allow our community to participate in the funding of these community-based businesses.
What is the mission of your organization?
Founded in 2010, Centro Community Partners’ (Centro) mission is to teach underserved women and minorities to become effective entrepreneurs by providing access to one-on-one advanced entrepreneurship education, credit repair, capital and technical assistance. We strive to be innovators in the entrepreneur development arena, responding to the personal needs of each client and working with them to address any concerns.
What indicators/metrics do you use to evaluate and monitor your impact?
Centro has enlisted one volunteer to do ongoing impact analysis for the organization. By performing one-on-one interviews after each 14-week cohort has ended, we are able to determine what each entrepreneur finds valuable in the instruction and within the organization. We track the credit score of each entrepreneur and the amount of revenue gained.
How have you performed in the past, according to these indicators/metrics?
Centro is the only advanced entrepreneur development program that has achieved a 90% success rate in obtaining capital for its women and minority entrepreneurs. We continue to have a positive relationship with MBA programs as they continue to send Centro talented students willing to advise an entrepreneur.
How will you determine whether or not the business plans of the Borrower(s) you endorse are sound?
Borrowers will be selected based on a) completion of Centro's program and b) solid business plan and 2-year financial projections.
How will you know whether the Borrower(s) you endorse will have the character to repay a loan?
Centro interviews each entrepreneur before they enter the program. After working closely with our entrepreneurs for 14 weeks, we are able to evaluate whether or not they are good loan candidates. Only after completing the program will entrepreneurs be invited to participate in Kiva Zip.
Please describe what type of business, financial, technical or other support you plan on providing to the Borrower(s) you endorse:
During the 14-week program, our classes for entrepreneurs cover business competencies, professional development and credit health. In addition, each entrepreneur is partnered with a trained MBA student adviser, as well as a professional adviser.
How will you establish whether the Borrower(s) you endorse are in debt, or have a history of debt? How will what you find affect your endorsement of their loan application?
We review and evaluate the credit reports of the entrepreneurs in our program.
Why can't the Borrower(s) you endorse access traditional loans?
Our entrepreneurs are low-income minority and women entrepreneurs. Since their businesses don't have enough history and they lack substantial collateral, they are not eligible for traditional loans.
Please describe how you could help us to ensure that the loans you endorse on Kiva Zip have a significant and positive social impact:
Our entrepreneurs all aim to have a positive social impact by bringing unique products and services to their communities. However, the greatest social impact comes in the form of new jobs in underserved communities.
About Centro Community Partners
- Trustee Type:
- On Zip Since:
- Apr 11, 2012
- Loans Endorsed:
- Total Value:
- Paying on Time:
- Paying Back Late:
- Repaid in Full:
- Repayment Rate:
What are Trustee Badges?
Trustee Badges are a system designed to recognize and reward trustees’ engagement with the Kiva Zip website.
There are two types of badges that are tiered like medals: Gold, Silver and Bronze.
- 'Repayment badges' are awarded for the on-time repayment of loans.
- 'Connectedness badges' are awarded for engagement with the Kiva Zip website.