GLOBE, a student-managed academic program at St. John’s
University, the Peter J. Tobin College of Business, provides loans
to entrepreneurs in the developing world. Through
GLOBE, students are educated about the world of microfinance while
helping the poorest of the poor help themselves and their families
out of poverty. Students, in describing their mission as part
of GLOBE, say: “We are committed to building a global community
(starting here at St. John's) that is going to contribute to the
goal of eradicating poverty within our lifetime.”
GLOBE STUDENTS
manage all aspects of the program including vetting loan
applications, marketing the program, tracking funds flows,
fundraising, providing technology to the field, and measuring
program success. Student management permits a low-cost
administrative structure with very little overhead costs.
This means that over 90 cents of every dollar goes directly to the
needy entrepreneur.
GLOBE COMMUNITIES
include the developing nations where loans are destined, the
University community in which the program is lodged, and civil
society with whom we share common interests and values in creating
positive and transformative change in the world.
GLOBE ENTREPRENEURS,
many of them women, engage in micro-enterprises, the profits from
which allow them to support their families and educate their
children. Loan fees attached to the loan payback serve future
borrower needs as well as local community needs such as books,
clean water, and medical supplies. These Loan fees, at 5%, compare
very favorably with other microfinance programs charging interest
of anywhere between 18% and 35%, and sometimes more.
GLOBE PARTNERS,
the Daughters of Charity, act as field partners and identify worthy
loan candidates, make recommendations, disseminate funds and
collect loan repayments in an ongoing effort to reduce poverty and
distress in the communities in which they work.
“GLOBE - students changing the world, one loan at a
time!”
GLOBE aims to provide loans to struggling
entrepreneurs, and currently operates in four countries: Kenya,
Nigeria, Democratic Republic of the Congo, and Vietnam; and has
connections with Daughters in six other countries: Bolivia, Ghana,
Mozambique, Madagascar, Peru and Thailand.
Connect With GLOBE!
More Information
For more information on the program or supporting GLOBE projects,
please email tcbglobe@stjohns.edu.
Linda Sama
Associate Dean for Global Initiatives
Bent Hall Rm. 111F
(718) 990-7323
tcbglobe@stjohns.edu