La Ceiba MFI

Nearly half the world’s population lives on less than $2 a day.  For one week, we are asking you to join them.  During the month of April, students across the country will live on $2 a day to help raise funds and awareness for their microfinance organization of choice.  As you know, microfinance enables individuals to break the cycle of poverty by providing them the opportunity they need.  The Two Dollar Challenge Team invites you to participate in our “Month of Microfinance” this April.  Join a growing movement of campuses in the raising of funds and awareness for microfinance.  The TDC Team is here to assist you in any way. 

WHAT: Two Dollar Challenge’s “Month of Microfinance”

WHY: Raise awareness and funds for your microfinance organization of choice

WHEN: April 1 – April 30, 2011

WHERE: College, university and high school campuses across the country.

OVERVIEW: During the “Month of Microfinance” students at participating college, university, and high school campuses pledge to take on “Challenge Week” – TDC’s experiential learning exercise in which participants live on $2 a day for five days and four nights.  Participants must buy all food, hygiene products, and any other “luxuries” they desire out of their $2 a day income. They also follow other rules designed to simulate the obstacles faced by those in poverty. This event will raise awareness of global poverty and microfinance, as well as funds for their microfinance institution of choice.  

The TDC Team will provide all of the materials campuses need to promote and create “Challenge Week” on campus.  We provide these materials directly from our website. Students at some schools go all out, creating makeshift shelters on the quad to emulate the living conditions of people living in poverty and to call attention to the cause. Others provide lectures on global poverty and sustainable solutions—like microfinance. Some create all-campus fundraising events. Students who complete the week-long challenge experience a visceral understanding of poverty that goes beyond anything they can learn in a classroom.  They will have the opportunity to share their experience with participants on other campuses through MFI Connect’s on-line blogging platform.

After completing “Challenge Week”, students can donate the money they have raised by living on $2 a day toward the loan of a global entrepreneur through their microfinance partner of choice (for example, Opportunity International’s peer-to-peer website optINnow.org). 

Follow this link http://twodollarchallenge.org/challenge-week/ to learn more and gain access to the following resources:

• Challenge Week Rules and Code of Conduct
• Tips for Recruiting Participants, Working with your University, Building Shelters, Getting the Word Out, and Raising Funds
• Sample Press Release, Promotional Flyer, Sponsorship Form, and Fundraising Letter

OBJECTIVE: 25 campuses. $2,000 per campus. $50,000 for microfinance.

BECOME A FAN OF TDC: http://www.facebook.com/twodollarchallenge

Fredericksburg, Va. – La Ceiba, the microfinance institution run by University of Mary Washington students, awarded a total of $625 to three Honduran entrepreneurs in La Ceiba’s first-ever business plan competition.
The awards recently culminated a year-long effort by the competition’s UMW student organizers, who raised grant funds, helped devise training for poor, entrepreneurial-minded Hondurans and traveled to the Central American country to teach business-development classes as part of the competition.
The first-place winner of the contest received $250 for her business plan to supplement her work as an artisan by selling new products along with eco-friendly purses made from recycled materials. The second-place finisher won $200 for her plan to sell tamales and tajadas, two typical Honduran dishes, out of her home.
The third-place winner received $175 for his plan to work as a welder to supplement his income from selling tajadas snacks. He will work on the windows and window bars of schools planned by Students Helping Honduras, a UMW student-run organization dedicated to ending extreme poverty in one of the poorest countries in the Western Hemisphere.
            The business plan competition grew out of La Ceiba students’ desire to open an enterprise incubation and development center in Honduras. “The motivation was to work with entrepreneurs to transform their ideas into micro- and small-scale enterprises so that they could in the future begin offering wage employment to others in the community,” said Shawn Humphrey, associate professor of economics and the faculty advisor to La Ceiba.
            A year ago, the UMW students conducted a feasibility study in the Honduran community of El Progreso, and they found that no training was available for the poor trying to start businesses there. “We believed our first step to realizing the Enterprise Incubation and Development Center was to create a base of entrepreneurs who would desire its services, and we felt like the way to do that was to create a business plan competition,” Humphrey said.
            As part of La Ceiba’s contest, the students tweaked a pre-set curriculum as they taught local entrepreneurs how to start or improve businesses. Benjamin Saunders, a senior and a leader of the initiative, said the original material was geared towards starting businesses, but La Ceiba was focused on improving existing enterprises. “We had sessions brainstorming how we could help our clients’ businesses,” Saunders, an economics major, said.
            At the end of the weeklong training, entrepreneurs submitted business plans for consideration in the contest. The El Progreso community was eager to get involved with the competition, and not just by entering it. Prominent community members who helped judge the entries included the chamber of commerce president, the rotary club president, two bank officials and two local entrepreneurs, Humphrey said. He said La Ceiba hopes to hold the competition annually, contingent on funding.
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News release prepared by:  Heather Brady

The first day of classes is over and many clients have been surveyed for satisfaction and current status!  It was a productive day despite the scattered scene created in Villa Soleada through our presence.  Dozens of children scampering about and taking full advantage of the interactive jungle gym that many La Ceiba members became as we moved from house to house and learning center to soccer field.  Though there are many barriers to overcome – language, culture, age –  as we attempt to interact with the people of the village the overriding feeling of excitement and curiosity from everyone is positive.  There are many plans in the works for the week and after an overwhelming adjustment period La Ceiba has hit the ground running, working late into each night to review the day and plan for the next, with a growing sense of comraderie and purpose.

La Ceiba had the opportunity to meet with the Mayor of El Progreso, Honduras – Alexander Lopez – and the President of El Progreso’s Rotary Club – Oscar Hawit - at UMW.  Their UMW stop was part of a larger tour of Fredericksburg, during which the Honduran Delegation visited Heritage Gifts and the UMW Bookstore where La Ceiba sells Esfuerzo de Amor products-which are handcrafted by artisans in El Progreso.  At UMW, La Ceiba had the chance to inform the delegation about our first Business Plan Competition and seek their assistance in securing judges and mentors.  The delegation promised their support.

(front row: Mayor Alexander Lopez, Sarah Alvarez, Tatiana Farizami, Osar Hawit; back row: Meredith Greenwell, TL Tutor, Brian Downing)

Below El Progreso Mayor Alexander Lopez (foreground), Rene Robleda and Oscar Hawit visit the UMW Bookstore and inspect Esfuerzo de Amor products for sale (photo courtesy of Free Lance Star)

Esfuerzo de Amor has clutches, earrings and headbands for sale.  You can buy on-line or in the UMW Bookstore.  Every purchase not only helps to support the artisans and improve the environment it also helps La Ceiba provide additional micro-loans in the communities surrounding El Progreso.  Happy Holidays! 

Download the Fall 2010 Newsletter to catch up on La Ceiba and our programs!