How We Work
Community Lending and Investment Circles (CLICs) are finance units integrated into existing social networks and trained by FUNDER Miami to achieve the following goals:
General Characteristics
- To develop and foster entrepreneurial abilities, such as cultivating the internal processes to acummulate capital.
- To form a financial network, oriented to encourage saving and grant micro-loans, as a base for alleviating liquity and financing small entrepreneurial endeavors.
General Characteristics
- Each CLIC is formed by 10 to 30 famiy members, friends or acquaintances
- These families are trained to create their own capital by creating shares, setting interest rates, deciding to whom to lend and with what collateral, and maintaining the necessary accounting records.
- CLICs function in accordance with and by the assistance of a General Assembly, General Counsel, and an Oversight Committee.
CLICs (Community Lending and Investment Circles)
- Many of our families struggle to access small loans that would help them to face their needs like health, education, food and to finance small entrepreneurial projects.
- In the face of this situation, CLICs represent a proposed solution since they are intended to provide credit with interests rates that are in alignment with reality and provide a means for families to save.
- This methodology constitutes a project of micro finance components in which the CLICs are the schools for their shareholders' business ventures.
- The CLICs take place during a period of 3 months. It is important for the CLICs to form quickly as many of the initial funds that are lent are needed for emergent needs, needs with are not met in the formal finance system in rural areas.