- Employer: Lend for America
- Type of Position: Internship
- Industry: Finance
- Location: Various (US), NJ
- Salary Range: $2,500 stipend
Lend for America Fellowship
The Lend for America fellowship is designed as an incubation program for students looking to start Campus MFIs on their college campuses. No previous experience is necessary and undergraduates of all majors are encouraged to apply. Fellows receive a $2,500 stipend and paid travel expenses to their host site.
There are two components involved in the fellowship:
-The first is a paid full-time internship with an existing microfinance group in the summer. Students receive an intensive weekend-long training on U.S. based microfinance prior to starting their internship.
-The second component of the fellowship is in the fall, when fellows return to campus to apply the skills they acquired to start their own Campus MFIs. Lend for America provides technical assistance and support for this independent fieldwork portion of the fellowship.
The deadline to apply for Lend for America’s 2014 fellowship is March 30. Applications are available at www.lendforamerica.org/fellowship.
Fellows are matched with one of three microfinance organizations: the Community Empowerment Fund, Capital Good Fund, or the Intersect Fund.
COMMUNITY EMPOWERMENT FUND
“Microsavings and homelessness: A relationship based approach to financial services in Chapel Hill, NC”
Founded in 2009 at UNC-Chapel Hill, the Community Empowerment Fund helps low-income people save money they can use to fund apartment security deposits. Through matched savings accounts, micro-loans, financial and small business education, and relational support CEF supports nearly 300 individuals each year who are experiencing homelessness. Lend for America Fellows will be engaged primarily in CEF’s Safe Savings Program. This program provides an innovative, goal-oriented savings account to enable low-income, under-banked households to achieve savings dreams and plan for their financial futures.
CAPITAL GOOD FUND
“Consumer lending and financial capability in Providence, R.I.”
The Capital Good Fund (CGF) is a financial empowerment organization whose mission is to provide equitable financial services that empower clients to climb the ladder out of poverty. CGF offers small loans, financial coaching and free tax preparation to those in need. Lend for America fellows will work directly with CGF’s innovative financial capability coaching program.
THE INTERSECT FUND
“Growing strong businesses in New Brunswick, NJ”
The Intersect Fund is designed to provide low-income entrepreneurs the training, funding and assistance they need to ensure their hard work pays off. Because the Intersect Fund earns a sizeable portion of its revenue through course fees and interest payments, it is integrally beholden to its clients. Since 2008, the Fund has served over 500 entrepreneurs through training, lending and consulting, improving and adapting programs under guidance of their clients. Lend for America fellows will work with the Intersect Fund’s microloan program.
Required Education and Experience:
The Class of 2014 Lend for America Fellows will comprise of students who are 1) currently enrolled in a U.S.- based college or university 2) ideally underclassmen pursuing an undergraduate degree. We encourage all majors to apply. Prospective fellows must submit an online application including a resume and two references.
Fellows are selected based on leadership potential, entrepreneurial spirit, and prior work completed on starting a Campus MFI. Fellows play an instrumental role in creating their own experience.
Submit an application with resume and 2 references online at www.lendforamerica.org/fellowship.
59 Lincoln Park Newark, NJ 07102