November 19, 2009
November 17, 2009--GLOBE, a student-managed Global
Microloan Program, hosted its first appreciation luncheon for
donors, supporters and friends of this important initiative.
Dr. Sama, the director of GLOBE (Global Loan Opportunities for
Budding Entrepreneurs) and Professor for the associated course,
announced at the luncheon the final approval of the first set of
loans to four needy borrowers in Nigeria, as well as the imminent
roll-out of the GLOBE
program website as early as next week. Invited guests honored
at the luncheon included participating Staten Island students,
GLOBE student alumni, faculty donors, representatives from the
Daughters of Charity and International Project Services (IPS),
GLOBE Steering Committee members and University administrators and
staff who have all, in some way, contributed to the
successful launch of the program.
Held in the private dining room at the University’s School
of Law, guests were seated at tables representing the six countries
in which GLOBE currently operates including: Kenya, Bolivia,
Nigeria, Ghana, Mozambique, and Thailand. Students, who were
responsible for the planning of the event, are members of the fall
2009 GLOBE class in which they engage in academic activities as
well as a practicum. Student task teams ensure the smooth
operation of GLOBE and relate to four areas of practice: Technology
and Communications, Marketing and Fundraising, Finance and Risk
Assessment and Accounting and Program Audits.
The festivities began with an invocation given by Sister
Margaret John Kelly, Director of the Vincentian Center for Church
and Society, followed by a welcome and introduction to GLOBE by Dr.
“Two years ago, GLOBE was just an idea, and today it’s a
reality,” she said.
The idea for GLOBE was inspired by the work of Nobel Peace Prize
winner Dr. Yunus and Grameen Bank, a microlending institution that
he founded. GLOBE’s mission is to help alleviate poverty in
developing countries by providing small business loans to
entrepreneurs in impoverished areas who would otherwise not have
access to credit. Through an established partnership with the
Daughters of Charity, an international religious order of sisters
operating in over 90 countries, GLOBE is able to have active field
partners on the ground who 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.
Each team of students gave a presentation to the luncheon guests
outlining their goals and the progress they were able to make in
GLOBE since the start of this semester. The Technology team was
responsible for updating the program’s social networking sites and
for building the GLOBE website that incorporates a donation section
so that anyone interested can donate online.
Loan terms were established by the Finance team and include a 5%
interest rate and a monthly repayment schedule. The team has
already approved four loans in southern Nigeria, and is currently
reviewing three more coming from other provinces within that
country. Members of this team offered borrower reenactments that
brought to life the dire circumstances of those whom GLOBE seeks to
The Marketing team was responsible for fundraising, raising
awareness about GLOBE, creating marketing materials such as
brochures, an e-newsletter, and a web video (now available on You
Tube), and maintaining a contact list. The team held a small and
successful fundraising event during lunch hour last week, raising
over $110 in less than an hour selling baked goods and
wristbands. They also enlisted the help of a Sales and
Promotion class on the Staten Island campus, taught by Professor
Joan Ball, to help raise funds and awareness there as well. The
Staten Island class held a fundraising event on their campus on
November 19th, where there were gift giveaways, raffles, food and
The GLOBE Accounting team is responsible for tracking cash flow
and distinguishing revenue and expenses. An important aspect of
their work has been to create an Excel template to allow for flow
of communication about funds between current GLOBE members and
future GLOBE members. These templates hold a variety of data
including: fund activity, debits/credits register, donation
deposits, balance sheets, and purchase orders. The team is
also tasked with establishing outcome measures for the program.
Adam Gertz and John Vidulich, GLOBE students on the Accounting
team presented Dr. Sama with a bouquet of flowers stating, “Without
you this program would not exist and we all want to thank you for
giving us the opportunity to make a difference in other people’s
lives and for being a great leader.”
With over 40 people in attendance, the luncheon was brought to a
close by Dr. Sama, who stated how proud she was of the GLOBE
students. “These students are not only great scholars, but they are
also really good people who care and genuinely want to make a
difference,” she said.
The left-over catered food from the luncheon was donated to St.
Nick’s Men’s Shelter in Queens, NY, where homeless men enjoyed
eggplant rollatini, baked ziti, chicken marsala, mixed grilled
vegetables, salad, bread, fruit and cookies.
The Peter J. Tobin College of Business has provided the highest
quality business education for over eighty years. Many alumni
have risen to senior executive positions in the financial services
community in New York and around the world. Degrees offered
include the Bachelor of Science, Master of Business Administration
and Master of Science. The College encompasses the School of
Risk Management, Insurance and Actuarial Science, which is housed
at the University’s Manhattan location in the heart of the New York
financial district. Recent recognitions for the Tobin College
include a listing by The Aspen Institute among the top ninety
business schools in the United States whose graduate curricula
reflect a commitment to social responsibility and sustainability.
For further information, please contact Jennifer Maizel at (718)
990-6218 or email Maizelj@stjohns.edu.