Testimonials - Envest Microfinance Cooperative
A Message from Envest Microfinance Cooperative,
a Home Savings Bank Customer:
"There is no other relationship between a microfinance loan fund and a community bank anywhere on Earth. We've broken conceptual ground."
-Jon Bishop, Founder and CEO,
Envest Microfinance Cooperative
Envest is a loan fund which manages a unique mix of strategies to alleviate poverty and promote an earth-friendly economy. Driven by both social values and sound business practice, such strategies appeal to both ends of the spectrum - lenders and loan recipients.
Envest first began lending to developing world countries in 2007. As of today, Envest has lent over $1.25M to eleven different institutions in Nicaragua, Peru, Panama, Bolivia, and Ecuador. Envest is a cooperative that operates solely on revenue from lending operations. Traditionally, banks do not provide financial services, such as loans, to clients with such an unconventional business model. Luckily, Jon Bishop, Founder and CEO of Envest, met Jim
Bradley, President of Home Savings Bank, through Dane Buy Local. Mr. Bishop and his wife were individual Home Savings Bank customers because of Dane Buy Local and environmental concerns. Mr. Bishop happened to be talking with a loan officer in regard to securitization, and the officer asked whether the bank could help in any way. She recommended that Jon speak with Todd Schneider and Jim Bradley at Home Savings Bank in regard to funding Envest. His idea was "so far out of the box, it was laughable!" However, they were willing to take the time to look at his ideas and ultimately accepted Mr. Bishop's proposal. Through doing so, Home Savings Bank is helping to provide opportunities for those individuals who are thousands of miles away.
Previously, Jon Bishop managed a different fund, doing the same work exclusively in Nicaragua. He received his Masters in International Management from the Thunderbird School of Global Management in Glendale, Arizona.
Envest Microfinance CooperativeSource: www.home-savings.com
Category: Payday loans