IN THE NEWS
Stories of AMI's impact in the community
October, 2022
AMI’S MICROLOANS GIVE ENTREPRENEURS A MUCH-NEEDED HELPING HAND
Throughout the past decade, AMI has consulted with more than 75+ entrepreneurs, provided more than $75,000 in loans to 15 small businesses and created 40+ educational blog posts on business topics. The organization prides itself for its microloans: It funds entrepreneurial dreams while promoting self-sufficiency and business development through its loan pool, which offers low- interest rate microloans up to $5,000 to fund hard assets essential to an entrepreneur's business operations.
Along with microlending, AMI staff members have helped build and expand many local businesses, include including restaurants, clothing lines and even an organic janitorial service. With a diverse clientele, AMI has also contributed to the success of minority- owned businesses such as the Million Dollar Teacher Project (MDTP). The MDTP was founded by Lloyd Hopkins in 2016 to elevate the teaching profession through increased support, compensation and recognition. It has served nearly 1,000 students and impacted 3,000 teachers.
April, 2022
101 Top Business Development Startups & Companies (Arizona)
AMI was recently featured in Business Development's 101 Top Business Development Startups & Companies in the state of Arizona.
January 23, 2022
ASU students run nonprofit helping businesses
Two of our associates were recently featured in the Gilbert Sun News. Former AMI Executive Director, Nicole Harris and current AMI Director of Education, Eugenia Trakal discussed the impact that AMI has left on them.
"'The relationships I have fostered with local entrepreneurs in the city I was born and raised in is something very special to me' said Gilbert native...Nicole Harris"
April 21, 2019
The Power Networking Radio Hour 4/21/2019 -- Guests: Farhan Khera
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
"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
"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
"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
"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."