The Smart Institute. LALF lending model much like Grameen is focused around a peer team.
Lifestyle Resource Loan Fund
Directions for Business Loans
Lifetime resource Inc. is really an organization that is nonprofit Washington D.C. whoever main function would be to offer monetary solutions into the unbanked and underbanked. Lifestyle resource Inc. has built a loan investment, the life span resource Loan Fund (LALF), providing little loans to entrepreneurs who wish to begin or develop a small company but|business that is small are having difficulties getting loans from old-fashioned banks.LALF is an alternative solution to moneylenders, payday organizations, and pawnshops that always loan cash at exorbitant rates of interest, rendering it very difficult for entrepreneurs to show their some ideas into profitable organizations. (Life resource can be arranging the“Life that is proposed Credit Union”).The Lending ModelLALF is founded on the Grameen financing model developed over 30 years back by Grameen Bank in Bangladesh.
The figure below illustrates the Grameen Lending Model.
Figure 1. Grameen Lending Model
LALF financing model much like Grameen is focused around a peer team. The group that is peer calls for potential borrowers to create or join a small grouping of 5 other entrepreneurs, each attempting to begin or expand his/her company. Teams are then arranged into Centers. A Center consists of as much as 8 Groups. Each team meets weekly having a Center Manager to repay loans and then make cost cost cost savings deposits.