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From the Campus Microfinance Alliance Start-Up Kit

MFI Start-Up Checkli

Learn about communityThe first thing to do before starting is to figure out if there is a need for what youwould like to start in the community. This step is not difficult or expensive, but itis important to learn about your campus community and what services alreadyexist for your potential target market.

Host a focus group, ask small business owners to fill out a questionnaire, and setup meetings with local nonprofits. Begin to narrow your target market and learnwho your ideal client is - see the Chapter on Marketing for an in-depth guide oncompleting this step. Completing this step will lay the groundwork for buildingcredibility within the community you will be working with. It will also help you tocraft a compelling vision to describe your organizations niche to funders,advisors, and staff.

Write down what you have learned about your community. Answer thesequestions:

1. What demand exists for microfinance in your campus community?_____________________________________________________________________________________________________________________________________________________________________

2. Who else is offering microfinance services or products?_____________________________________________________________________________________________________________________________________________________________________

Mission statementWhat problem exists that we are trying to solve?

______________________________________________________________________________________________________________

What is our solution?

______________________________________________________________________________________________________________

What program activities will we focus on? Trainings, workshops, loans?

______________________________________________________________________________________________________________

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From the Campus Microfinance Alliance Start-Up Kit

MFI Start-Up Checkli

Craft a compelling story and elevator pitch that clearly explains yourorganization's purpose and objectives. Get help in the Chapter on Organization

Development.

Build a TeamRecruit 4-7 volunteers to join leadership of MFI. See tips and resources in theChapter on Staffing & Management.

Who is on your team and what are their roles?

Name Role1.2.

3.4.

Decide legal structureShould you register as a nonprofit corporation? Will you seek out fiscalsponsorship from another community nonprofit? Can you rely on youruniversitys infrastructure? See the Chapter on Legal considerations foradvantages and disadvantages to different models.

Our model is

______________________________________________________________________________________________________________

Raise MoneyStrive to raise $1000-3000 to get started. Check out the Chapter on Fundraisingfor strategies and tools to help you generate start up funds help to for nonprofitregistration, setting up management systems and implementing your firsttraining class. Download a template for organizing your fundraising pipelinehere.

Manage MoneySet up a bank account and processes for paying vendors.

Bank Name: ______________________________________________

Account Name: ____________________________________________

Bank Account No:______________________________

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From the Campus Microfinance Alliance Start-Up Kit

MFI Start-Up Checkli

Bank Account Opened Date: _______________________

Signers on the account:___________________________

Recruit Your First ClientPrepare a training curriculum. Learn more about training services in the Chapteron Training. Choose a curriculum to use so you can recruit clients for your firstclass.