Trustee: The Edge Connection
Why are you interested in becoming a Trustee?
Access to Capital is a huge barrier to many of the clients that we serve. We want to assist clients in finding other options for funding. That one loan can make all the difference in a client starting or expanding their business to the next level and creating a job for themselves and others.
What is the mission of your organization?
To promote economic self-sufficiency and self-determination through comprehensive entrepreneurial training targeting low-to moderate-income women, minorities, veterans, and persons with disabilities.
In the past, how effective have you been in achieving this mission?
Micro businesses help create jobs, alleviate poverty, and add to the growth of a sustainable economy. Nearly 90 percent of businesses in the U.S. are micro businesses, employing one in five people in the workforce. In the past two decades, over 2 million entrepreneurs have seen success in cities and communities across the country. At the Edge Connection we are very proud to share in this incredible statistic. During our 14 years of service, we have served over 7,200 clients and participants, provided over 78,000 hours of training/consultation, created thousands of jobs, supported a client base of over 71% women (of which 67% are single head-of-household living in poverty); 75% minorities, 15% veterans, 11% disabled; and boast an economic impact of over $13 million in the past five years. Additionally we have tracked that: 95% of our business owners are still in business after one year o 64% report an increase in sales o 48% report an increase in income. 79% of the businesses still in operation after three years o 54% report an increase in sales o 52% report an increase in income.
Do you belong to any organizational networks -- nationally, regionally, or locally? If yes, please list.
Association for Enterprise Opportunity (AEO) National Business Incubator Association (NBIA) Georgia Center for Nonprofits (GCN) Georgia Microenterprise Network (GMEN)
How will you decide who to endorse as a borrower? What due diligence will you conduct?
The borrowers that we plan to endorse will be active business coaching and consultation clients. The recommendation for a loan will be based on a specific plan including a payback strategy. The recommendation will come from the business consultant who will continue to work with the client the duration of the loan until it is paid back. We will be looking to endorse clients that have demonstrated sales and active participation in our training, coaching and consultation programs.
How do you plan to support the borrower, both before and after the loan is disbursed?
The borrowers that we endorse will be expected to continue to work with a business coach/consultant for the duration of the loan. They will be at a minimum expected to connect with their business coach/consultant for at least one hour per month.
How will you help us ensure that the loans you endorse have a significant and positive social impact?
We are strong believers in job creation through entrepreneurship. One of our goals as an organization is to assist our clients in not only creating a job for themselves but to hire others. Based on the number of micro businesses in the U.S. if one in every three micro businesses were to hire one person, the United States would be at full employment. This is the Power of One in Three (AEO 2012).
About The Edge Connection
- Trustee Type:
- Micro Business Development Training Organization
- Paused Tier trustee
- On Zip Since:
- Jul 27, 2012
- Loans Endorsed:
- Total Value:
- Paying on Time:
- Paying Back Late:
- Repaid in Full:
- Not enough data
- Not enough data
- Repayment Rate:
- Not enough data