Southern Minnesota Initiative Foundation is a regional development and philanthropic organization that fosters economic and community vitality in 20 counties of southern Minnesota through a culture of collaboration and partnership.
Currently Viewing: 2016 Reporting Data
Summary
Provides Microenterprise LoansYes
Lending Types
Individual Lending
Tracks Credit ScoresYes
Reports Borrower Credit PerformanceNo
Microfinancing Volume
Number of Microloans Disbursed 17
Value of Microloans Disbursed $321,550
Value of Microloans Outstanding $728,990
Portfolio Quality
Mean Interest Rate 6.5%
Total Portfolio at Risk 11.81%
Loans Past Due
30 to 60 $24,888
61 to 90 $44,667
91 to 120 $0
More than 120 $16,548
Other Financing Products
Small Business LoansNo
Leverage Package or Guarantee Loans?Yes
Services Provided
Training and Technical Assistance (TA) Services
Business Training (group based instruction)
Business Technical Assistance (one-on-one assistance)
Business Development Services
Coaching/Mentoring
Credit Counseling
Access to Market Services
Business Development Training
Number Receiving Training 6
Number Receiving TA 52
Individuals Served 82
Clients Served 70
Businesses Served 59
General Program Info
Area Types Served
Rural
Urban
Member Associations
Not a member of a SMA
Geographic Area Served
Minnesota
Geographic Area Served Description20 Counties in Southern MInnesota: Blue Earth, Brown, Dodge, Faribault, Fillmore, Freeborn, Goodhue, Houston, Le Sueur, Martin, Mower, Nicollet, Olmsted, Rice, Sibley, Steele, Wabasha, Waseca, Watonwan, and Winona
Staffing
# FTEs 2
Individuals Served per Full-Time Equivalent Staff 41
Clients Served per Full-Time Equivalent Staff 35
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