June 21, 2011
The Tobin College of Business Global Microloan Program, GLOBE
(Global Loan Opportunities for Budding Entrepreneurs) completed its
5th semester in spring 2011, approving a total of 28 loans to
borrowers in Nigeria, Kenya and the Democratic Republic of the
Blessing Omotayo, a hardworking mother and one of the first GLOBE
borrowers in Nigeria, started a sewing business with $130 USD in
hopes of providing for her family. After only one year, the
business has been so successful that she was able to send her two
children to school, repay her loan and now has aspirations to
expand into the clothing business. “I am indeed grateful for your
[GLOBE’s] support and pray God to reward you.” said Blessing.
“Please don’t relent in extending your good work to others in
The Daughters of Charity, acting as a liaison between the GLOBE
students in New York and the program’s borrowers, offer a solid
support system that provides the entrepreneurs with financial
education and personal encouragement. With their guidance, most of
the borrowers have successfully opened businesses and are
submitting regular payments. Recent business ventures include the
sale of food items, clothing, and oil; making and selling clothes,
jewelry, baskets and crafts; and farming and agriculture.
The Daughters describe the positive differences that they have seen
in the lives of the borrowers. Through this opportunity, the
borrowers have been able to take responsibility for their families,
improve their standard of living, enhance their dignity and self
worth in their community, and reach out and help others in their
GLOBE students work diligently each semester to manage all aspects
of the microloan program including vetting loan applications,
setting loan terms, marketing the program, tracking funds flows,
fundraising, social networking, and measuring program
For more information about the program or to see updates on our
borrowers, please visit www.stjohns.edu/GLOBE.
The Peter J. Tobin College of Business has provided a high-quality
business education for over eighty years, offering individuals from
throughout the world the opportunity to study in New York’s dynamic
business environment. The innovative curriculum emphasizes an
analytic and hands-on understanding of business practice that
prepares graduates to excel in today’s global marketplace.
For additional information about the Peter J. Tobin College of
Business, please contact Asia Hauter at (718) 990-6218 or via
e-mail at email@example.com.