What Fellows Do
1) Fellowship Kick Off
The Fellowship starts with a three day classroom based crash course in U.S. microfinance. This intro training equips fellows with basic skills needed to be successful during summer internships.
2) Microfinance Immersion
After the kickoff, fellows spend 8 weeks learning from hard working Americans and microfinance practitioners about the opportunities for microfinance to transform communities. Fellows review loan applications, open savings accounts, and coach clients. All travel expenses are paid and fellows receive a $2,500 stipend.
3) Launch a Campus MFI
After the summer, fellows return to campus with new skills and confidence to launch microfinance initiatives. Lend for America offers year-round support to help new Campus MFIs get off the ground.
Microfinance Immersion Locations
Chapel Hill, North Carolina
“Microsavings and homelessness: A relationship based approach to financial services”
Est. 2009, University of North Carolina
The Community Empowerment Fund offers comprehensive workforce development services, opportunity classes, and safe savings accounts for individuals experiencing or at-risk of experiencing homelessness. This year, CEF helped 247 clients save $55,000 and open 205 bank accounts.
Providence, Rhode Island
“Consumer lending and financial capability”
Est. 2009, Brown University
The Capital Good Fund (CGF) is a financial empowerment organization that provides high-quality, innovative and transformational financial services to underserved families. CGF offers small loans, Financial Coaching and free tax preparation to those in need. In 2013 alone, CGF distributed 74 loans and prepared 709 tax returns.
New Brunswick, New Jersey
“Growing strong businesses, making loans and technical assistance”
Est. 2008, Rutgers University
The Intersect Fund is a non-profit microlender and certified CDFI that provides business training, coaching and microloans to low-income, minority and women-owned businesses throughout New Jersey. To date, the organization has served over 450 clients, disbursing over $1 million in micro-loans since its inception.
Application and Selection
Applications are no longer accepted for summer of 2014. Check back in fall of 2014 to apply for the 2015 Fellowship!
Are you currently enrolled at US based university? Undergraduate and graduate students are welcome to apply.
LFA's 2014 Fellows
Doug Chan is a rising junior at the University of Virginia in Charlottesville, VA who is studying Commerce and Economics. He is a former Future Business Leaders of America Student President and currently the CMO of the Alternative Investment Fund at UVA. Doug also is the co-founder of his university’s Campus MFI in Charlottesville, and they hope to make their first loan by the fall semester.
Katelyn McCarthy is an up and coming sophomore at the Indiana University in Bloomington, where she is one of the student founders of the Hoosier Social Impact Fund, a certified 501c3 serving southern Indiana. An accomplished cellist, teacher, and baker, Katelyn is pursuing a degree in Economic Consulting and Public Policy Analysis.