2019 ARIZONA MICROCREDIT INITIATIVE

info@azmicrocredit.org  |   PO Box 25886, Tempe, AZ

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IN THE NEWS

Serving communities in greater Phoenix since 2011

April 21, 2019

The Power Networking Radio Hour 4/21/2019 -- Guests: Farhan Khera

https://powernetworkingradio.com/podcasts-of-the-show/

One of our senior consultants, Farhan Khera, was featured on the Power Networking Radio Hour Podcast! Listen to the episode beginning at 15:00 to hear him discuss Arizona Microcredit Initiative, microcredit, and consulting.

17:36 Farhan: "[On the topic of] the ability of credit to empower someone: when you look back to the original founding doctrine of not only Arizona Microcredit Initiative, but also microlending as a concept (looking at the Grameen Bank)--small business owners have ideas, and they understand how to make a good product, but they don't have the actual asset (the actual machine, or what they need) to go make it larger scale and go get clientele. That was the original idea behind Arizona Microcredit Initiative."

March 21, 2019

Gadzooks Enchiladas & Soup to open new location near ASU's Tempe campus

https://www.statepress.com/article/2019/03/spartcult-gadzooks-enchiladas-and-soup-to-open-new-location-by-asu-tempe-campus

"The Arizona Microcredit Initiative is a student-run nonprofit organization at ASU which empowers underserved entrepreneurs to start or expand their business through business consulting, microloans and producing content for businesses.

Justin Ferrara, the executive director of the Arizona Microcredit Initiative and an ASU junior majoring in business data analytics and finance, said he believes running and operating a small business is a tough, yet admirable task for entrepreneurs.

Ferrara said he believes that starting a business comes with many uncertainties, but seeing ASU graduates succeed serves as an opportunity to better understand and relate to the journey of a successful business owner."

May 24, 2018

Arizona Microcredit Initiative helps local entrepreneurs' business dreams come to life

http://www.statepress.com/article/2018/05/spcommunity-all-vegan-grocery-store-veggie-rebellion-opened-its-doors-with-help-of-ami

"One of AMI's most recent clients were the co-owners of Veggie Rebellion, an all-vegan grocery store in Glendale. Eghlimi said AMI has been working with Veggie Rebellion since the summer of 2017. He said that he was part of a three-person loan team who underwrote $5,000 to help start their business. 'Veggie Rebellion, a West Valley-based vegan grocery store, is a dream client,' Eghlimi said in an email. 'First of all, their business idea is terrific; I was sold the moment I met them. We were lucky enough to be able to help them start their business with a $5,000 loan, which they paid back 17 months earlier than expected.'"

March 06, 2018

ASU program is the cat's meow for community businesses

https://asunow.asu.edu/20180306-entrepreneurship-asu-arizona-microcredit-initiative

"Charlie — the lounge’s official mascot, who unfortunately is not up for adoption — finds his way into the arms of La Gattara owner Melissa Pruitt where she sits across from Karthik and fellow business major Justin Ferrara. The ASU students are members of Arizona Microcredit Initiative (AMI), a nonprofit organization whose members are all undergraduates (and mostly W. P. Carey School of Business students, though it’s open to all majors). AMI strives to help local, underserved entrepreneurs start and run their businesses."

October 19, 2015

The Business Behind Nonprofits

http://www.statepress.com/article/2015/10/the-business-behind-nonprofits

"The face of nonprofit organizations is changing at a rapid pace. Businesses that once fell under the single title of nonprofit now have the chance to venture into the for profit sector of the business world while still upholding its original mission. Along with these changes comes about the hybrid of for profit and nonprofit organizations, sending out a new wave of popularity throughout the business world."

February 12, 2014

Honors students’ nonprofit program, Arizona Microcredit Initiative, reaches new success​

http://www.statepress.com/article/2014/02/honors-students-nonprofit-program-arizona-microcredit-initiative-reaches-new-success/

"Looking to spur growth for local businesses, students from Barrett, the Honors College offer entrepreneurs financial loans and professional classes to drive development and get their startups off the ground. Arizona Microcredit Initiative is a nonprofit program created by students in 2011 that makes microloans ranging from $1,000 to $5,000 to small businesses that would otherwise not qualify for conventional bank loans. In the past few months, AMI has grown in both number of clients they work with and employees at the organization."

January 30, 2014

Students fuel businesses

http://archive.azcentral.com/business/abg/articles/20140129students-fuel-businesses.html

"None of them own a business, yet the students that comprise Arizona Microcredit Initiative have helped dozens of entrepreneurs and business owners in the making grow or get their companies off the ground. And what began as a simple startup project run by students from Barrett, The Honors College at Arizona State University, has grown into nonprofit that offers microlending and business fundamentals classes to the little guy."

November 16, 2011

Student nonprofit helps struggling entrepreneurs

http://www.statepress.com/article/2011/11/student-nonprofit-helps-struggling-entrepreneurs/

"AMI is unique because we target non-traditional borrowers,” economics and Chinese senior Danica Harvey said. “We’re alleviating poverty and creating social credit to stimulate the economy and create jobs.”

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