PROGRAM OVERVIEW PROGRAM DESCRIPTION & MECHANICS Provide business loans and business education together with opportunities to network with peers Peer lending loan program Built around the “group” concept Graduated loans as a means to building and (re) establishing credit Networking and professional support
PROGRAM OVERVIEW “What Makes CFRC Capital Partners™ Unique?”The ONLY organization on the West Coast tooffer peer loans modeled after Grameen BankNo prior business experience required…evena business idea will do!Work at your own pace
PROGRAM OVERVIEW FEW BARRIERSCFRC Capital Partners™ does not require: A business plan Tax returns No credit check No collateral
PROGRAM OVERVIEW HOW DOES IT WORK? Work in a group of three to eight members
PROGRAM OVERVIEW HOW DOES IT WORK? Create a group name and establish by-laws
PROGRAM OVERVIEW SYSTEM OF CHECKS AND BALANCES Group members are the loan committee Responsible for approving and rejecting loan requests Review business profiles Assure funds are being used for their intended purpose
PROGRAM OVERVIEW STEP-BY-STEP Loans are given in graduated amounts From $500 up to $5,000 All group members must be current on loans in order for any one member to move through the program
PROGRAM OVERVIEW TRAINING Each loan level has its corresponding training Taught by small business counselor Covers business plans, business profiles, accounting, etc.
PROGRAM OVERVIEW LOAN DISTRIBUTION To be eligible for your first loan you must attend the Level One training beforehand. Following, trainings must be completed before moving up to the consecutive level.
PROGRAM OVERVIEW LOAN DISTRIBUTION Loans are distributed 2-4 weeks after loan request is submitted by group Non-refundable $75 fee for materials and training
PROGRAM OVERVIEW PROGRAM DESCRIPTION & MECHANICS The CFRC Capital Partners™ Loan Structure $5,000Interest = 10% annualized $4,000 $5,000 $3,000 $4,000Monthly Service $2,000 $3,000Fee = $3.00 $1,000 $2,000Example: $500 Loan $500 $1,000 4 month term $500 4-6 mo. 4-12 mo. 4-18 mo. 6-24 mo. 6-36 mo. 6-36 mo.Payment = $130.61 12 months 24 months 24 months 24 months 24 months The word “credit” comes from Latin and means to believe or trust. We believe in trust.
PROGRAM GUIDELINES ACCOUNTABILITY STRUCTUREGroup members are not legally responsible for each other’s loan.Each borrower is legally responsible for their own loan. In order for any member toadvance to the next loanlevel, ALL members must becurrent on their loan payments.
PROGRAM OVERVIEW “How do I participate?” Proof of Income Live in the County of Los Angeles Proof of 6 months residency Two forms of Identification Driver’s License, Passport, Government-Issued ID
PROGRAM OVERVIEW “What are the benefits?”Make loan decisionsBuild a strong businessStrengthen and build your credit profileParticipation in seminars and mixersPeer support and networking with otherbusiness ownersAccess to capital
ADDT’L SERVICES CONSULTING | COUNSELING | EXPANSION• Consulting Services for eligible CP members• 1-on-1 counseling• SEED & Expansion loans up to $250K
ADDT’L SERVICES SAVINGS PRODUCTS | FINANCIAL COACHING• Really high interest savings accounts• Personal Financial Coaching• Money Management Workshops
OTHER SERVICES NETWORKING | PROMOTION• Networking Events• Open Houses• Community Small Business Directory
OTHER RESOURCESSOCIAL NETWORKS AND LENDING | CROWDFUNDING KickStarter. com IndieGoGo.com Fundly.com Sponsume.com