Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How to take the output, the short outcome, and the long-outcome from the text below? Women have the potential to serve as powerful economic engines,

How to take the output, the short outcome, and the long-outcome from the text below?

Women have the potential to serve as powerful economic engines, but many are shut out of the financial system due to poor credit and low income. With microloans, training, and support, Gaining America empowers women who live in poverty to build small businesses to create better lives for their families.GAI's target population is women living in poverty, with no source of affordable capital, no access to the banking system, and no way to build their credit or learn about financial products.

Gaining America, Inc. (GAI) utilizes a group-lending model based on peer support to provide small loans to low-income women entrepreneurs. Since GAI's inception in 2008, we have expanded to 20 branches in 13 cities across the U.S. Our Center Managers (loan officers) are hired from the communities in which we work and have knowledge of the local community, bi-lingual skills in Spanish and English, and a commitment to empowering women financially.GAI prioritizes working with our clients as "members" instead of simply borrowers. Center Managers create a culture of trust, transparency, and community building, enabling GAI to establish long-term relationships within the community. Each branch is built on a sustainable business model and becomes a local lasting resource.

GAI solves a problem that neither the public sector nor the formal banking system can solve. Women have the potential to serve as powerful economic engines, but many are shut out of the financial system due to poor credit and insufficient income. They remain an untapped resource due to a lack of access to small loans, which are costly and complicated for private banks to administer, and which the public sector does not have the means to address. Through non-recourse microloans starting at $2,000, training, and support, GAI gives women across the country the chance to run their businesses and move up and out of poverty. A gift of one million dollars will enable GAI to extend our services to a total of 120,000 women entrepreneurs by the end of 2022 and improve the economic situation of their families, changing the lives of 360,000 Americans.

GAI utilizes a unique, proven group-lending model based on peer support to provide small business loans to women entrepreneurs. We require neither a credit score nor collateral to join our program and only ask that a woman form a group with four other women entrepreneurs. Together, they commit to meet with our staff weekly to repay their loans and engage in ongoing peer support and training. This atypical underwriting makes it affordable and efficient to disburse large numbers of small loans and allows us to reach the most vulnerable populations with accessible financial services.

Furthermore, our return on investment truly sets GAI apart from other philanthropic projects. Because each dollar is recycled back into the loan portfolio once repaid, our loans serve communities in perpetuity. Over ten years, a single dollar will yield $25. Our goal is to help 120,000 low-income women entrepreneurs with nearly $1.5B in microloans by the end of 2022. In ten years, the $1M investment will yield $25M, supporting over 350,000 women and changing the lives of 1M Americans.

1. Outputs

2. Short-term Outcomes

3. Long-term Outcomes

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Econometrics A Modern Approach

Authors: Jeffrey M. Wooldridge

4th edition

978-0324581621, 324581629, 324660545, 978-0324660548

Students also viewed these General Management questions