Start Date: Mar 23, 2012 10:00 PM
End Date: Mar 30, 2012 10:00 PM
Volunteer Activity Description:
Santa Clara University GBB volunteers will spend 8 days in a rural community in eastern Panama. Volunteers will help to provide solutions to the community’s economic needs. The target beneficiaries have been previously excluded from formal financial institutions and have little to no access to savings and credit opportunities. Volunteers divide into small groups to conduct household visits. Through getting to know the family, the volunteers assess each household’s level of financial competency and entrepreneurial aspirations. After the assessments the volunteers provide educational and technical assistance in the form of workshops with topics ranging from personal finance to basic accounting and business planning. Additionally, Santa Clara University volunteers invest in the community savings and loan cooperative by providing seed capital. In turn, the seed capital provides loans to small business to either expand current operations or pursue a new entrepreneurial opportunity. Working side-by-side with community members affords volunteers the opportunity for cultural exchange, micro-finance, and consulting experience. The households benefit by learning personal financial and business skills. Their businesses benefit from the loans. The community benefits because the profits earned by the S&L stay in the community to be invested in infrastructure and social projects.
