Trustee: Abaca Business Plans, Inc.
Why are you interested in becoming a Trustee?
Abaca Business Plans, Inc. serves many entrepreneurs that are either starting a new business or already have an existing business. We prepare business plans, loan packages and we assist our clients in becoming loan ready. Over time, the majority of businesses will need a loan either as a start-up business or as a growing business. Abaca Business Plans works with clients that need loans, and we make recommendations on where these clients should develop lending relationships. Kiva Zip will be an ideal lending resource for some of my clients.
What is the mission of your organization?
The mission of Abaca Business Plans is to assist individuals in accomplishing their dreams of becoming an entrepreneur, and to provide a reliable resource for existing businesses to either turnaround their business and/or grow their business to the next level.
In the past, how effective have you been in achieving this mission?
Abaca Business Plans, Inc. has been very effective in achieving its mission of helping potential and existing entrepreneurs to either start a new business or to grow their existing business. We have taught entrepreneurial classes and business plan classes to hundreds of students over the years. We have also prepared numerous business plans and loan packages for aspiring entrepreneurs. Abaca Business Plans, Inc. has even accompanied its clients to various lenders in order to assure that the lender received all the information needed in order to reach a positive lending decision on behalf of the client.
Do you belong to any organizational networks -- nationally, regionally, or locally? If yes, please list.
Joyce Parker-Johnson currently serves on the Board of Leadership Metro Richmond, and is a graduate of the Leadership Metro Richmond Program. Joyce also serves as a Member of REDC Community Capital.
How will you decide who to endorse as a borrower? What due diligence will you conduct?
Abaca Business Plans, Inc. will recommend clients that it knows well. We will have a thorough understanding of the client's financial picture and their business plan. We will have a working knowledge of the client's business model and their market. We will have a reasonable snap shot of the client reputable in the community. Most of the people we recommend for the Kiva Zip Loan will have had their business plans completed by Abaca Business Plans. These individuals will have already made a significant investment in their business and can be deemed as serious about either starting a new business or growing their existing business. We will make sure that all borrowers we recommended are loan-ready and can afford to repay the money that is borrowed.
How do you plan to support the borrower, both before and after the loan is disbursed?
Abaca Business Plans, Inc. will be available to provide a continuous stream of consulting and technical assistance both before and after the loan is disbursed. We will meet with the borrower monthly to determine how the loan has impacted their business, evaluate if any additional assistance is needed, and point the borrower in the right direction so that small issues do not become big problems. Abaca Business Plans will always behave in an ethical manner towards its clients and the Kiva borrowers.
How will you help us ensure that the loans you endorse have a significant and positive social impact?
Abaca Business Plans, Inc. will focus on assisting the Kiva Zip borrower in becoming a positive social impact by helping the borrower to understand that he or she is part of a very powerful network of people who are working together to keep the lending cycle moving smoothly so that future entrepreneurs will have the same opportunities as today's entrepreneurs. We will remind our borrowers that It is importance of remaining in good standing with the Kiva Zip Loan Program. We know that if one entrepreneur defaults on their loan it will negatively impact the ability of the program to extend funds to others in the future.
About Abaca Business Plans, Inc.
- Trustee Type:
- Marketing Consulting Firm
- Second Tier trustee
- On Zip Since:
- Aug 12, 2013
- Loans Endorsed:
- Total Value:
- Paying on Time:
- Paying Back Late:
- Repaid in Full:
- Repayment Rate: