POCA Micro-Loans Are Here!

 

One of the strong influences contributing to POCA's development is Professor Mohammad Yunus of the Grameen Bank in Bangladesh, recipient of the Nobel Peace Prize in 2006. Professor Yunus is credited with the development of the concepts of microfinance and microcredit, which allow people who are too poor to receive conventional loans to start and expand small businesses (sound like anyone you know?)

Did you know that co-ops can loan money to their members at whatever interest rate they choose? Thanks to a donor who believes in POCA’s mission, we have funding for a few loans. It took us almost a year to put together, but volunteers in the POCA Finance Circle are SOO excited to announce we are ready to lend money to POCA members in the following categories (link is to the loan application):

Underserved Area Clinic Startups– If you have a hankering to open a clinic and just can’t figure out how to put the money together, this is the loan for you. Up to $7500 available.

Employee Ho!– You are a POCA punk and you have your eye on that juicy employment opportunity at a POCA clinic but you just don’t have the funds for a move?  We’ve got you covered! $1000-3000 available.

BDC Expansion– Your clinic is on the verge of becoming tungsten but you need a few $$$ to tear down a wall and buy a couple more chairs – we’re on your side! Up to $5000 available.

Second Time Plus– If your patients are bugging you to open another clinic in another part of town, this may be a big help to you.  Up to $7500 available.

Pretty nice, don’t you think? If you need a low interest loan that fits into one of these four categories, fill out the appropriate application and send it to finance@pocacoop.com. Extra consideration is given to members who are working with a Clinic Success Mentor. POCA’s Finance Circle will review all applications and make recommendations to the General Circle. The General Circle will have the final say in approving the loans.

Remember, these are loans, not grants, and the sooner the money is repaid, the sooner it can go back out and do more good POCA work! So just ask for what you need, and repay as soon as possible. Then on the heels of your success, consider becoming a donor in POCA’s Microloan program.

POCA’s micro-loan program is just one of many ways that POCA and POCA volunteers are working to make affordable acupuncture more accessible. Let’s put this money to good use and reach more patients and create more jobs!

(This post is copied in the Fishbowl Forum with permanent links to loan documents.)

POCA Finance Circle:

Steve Kingsbury, Sarah Lefkowich, MM Dobson, Molly Fread, and Craig Labadie

This story was posted on August 22 2012 by MMDobson.

Comments

  • August 22 2012 at 12:15 PM
    ReneeK writes:

    Thank you to all of the people that made this happen!

    I would like to add $25 to the micro-loan account. Can I do this via Paypal? If not, then where should I send the check? This money has been sitting in a Kiva account for years. I give money to someone to buy a cow in Kyrgyzstan and 6 months later the money is paid back. And I learn how to spell Kyrgyzstan.

    Somehow it just doesn’t make my heart swell the way this does.

      4 likes
  • August 22 2012 at 12:56 PM
    MMDobson writes:

    There’s a button at the top of the page that says “Contribute Today”, made just for you!  Thanks for getting the ball rolling Renee K!

      4 likes
  • August 22 2012 at 1:39 PM
    Lisafer writes:

    YAY Finance Circle!!! You all are heroes!

      4 likes
    • Nic
    • Nora
    • Spartacus
  • August 22 2012 at 2:33 PM
    Spartacus writes:

    I was totally excited for this when I thought it was for helping get new clinics open, but it can help me with a wall that I think I really need???  This is fantastic!  Thank so much for all your hard work, Finance Circle!!!!!

      2 likes
    • Nic
  • August 22 2012 at 3:59 PM
    spitfire writes:

    Awoowoo!!!!  Looks great! Thank you Nick and Mary Margaret and Steve for all your hard work smile.

      3 likes
  • August 22 2012 at 4:13 PM
    peoples writes:

    Wow

      3 likes
  • August 22 2012 at 6:32 PM
    andy wegman writes:

    When I stop to think about this, it’s pretty unreal.  What a great service to provide to the co-op members.

    Thanks to all involved.

      5 likes
    • tatyana
    • Nic
    • Spartacus
    • Nora
  • August 22 2012 at 6:49 PM
    tatyana writes:

    Happy dance!
    Great work, y’all - so exciting.

      3 likes
  • August 22 2012 at 6:50 PM
    NancyS writes:

    This is fantastic!  So exciting.  Once again, POCA is doing what no one else ing the acu-world even thinks of doing!

    Thank you to all of you who put in countless hours to make this happen.

      4 likes
  • August 22 2012 at 7:10 PM
    crismonteiro writes:

    Wow—acupuncturist actually helping one another!  Imagine that!
    Great work making this all into reality.

      4 likes
    • Nic
    • Spartacus
    • Nora
    • sizzlek
  • August 23 2012 at 8:18 AM
    Nora writes:

    I can’t wait to see what folks are going to do with their loans!  Thank you so much, Finance Circle!!!

      2 likes
  • August 23 2012 at 9:39 AM
    estermarie writes:

    Thank You, Thank You, Finance Circle and POCA! Yes, un-real, heart-swelling, awe-inspiring.

      2 likes
  • August 23 2012 at 3:46 PM
    suzzanne.lohr writes:

    This is so amazing!  Thank you, Finance Circle!  Wow smile

      2 likes
  • August 23 2012 at 4:01 PM
    RebeccaP writes:

    This is awesome!  Can’t wait to see the flowers that grow from this seed.  Thanks finance-ers, for this piece of good news.

      3 likes
  • August 24 2012 at 9:06 AM
    kcasey44 writes:

    You guys are really doing it! I am so proud to be able to call myself a member of this organization. What an amazing group of people. Way to go everyone involved.

      4 likes
  • August 27 2012 at 11:41 PM
    alyssagrace11 writes:

    When I first read this, then read through the application, and then let it settle in me…I actually had tears of pure happiness, absolutely phenomenal! Thank you guys! Like estermarie said—“heart-swelling” for sure.

      2 likes
  • September 9 2012 at 3:45 PM
    ash writes:

    This is incredible!!

      0 likes
  • January 12 2015 at 11:56 AM
    BamainAtlanta writes:

    Can someone please tell me how I can get a “clinic success mentor”?  The OP says that clinics with one are given extra consideration. Thanks.

      0 likes
  • January 12 2015 at 12:25 PM
    Presence_CA writes:
      0 likes
  • January 12 2015 at 1:50 PM
    BamainAtlanta writes:

    Thanks Presence. I am looking through the application for the micro loan in an underserved area, and it seems meant for someone who already has a clinic up and running, which confuses me, as I thought the point was to help start clinics in underserved areas.  Do I need to open a clinic before applying?  Thanks.

      0 likes
  • January 12 2015 at 2:18 PM
    Presence_CA writes:

    I don’t know, but i think your best bet would be to post your question on the forum link i posted above. I think it is harder to track comments on the blog (the OP is more than 2 year sold) where the Clinic Success sub-forum is easier for people to manage.

      0 likes

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