Fall 2016

Each semester, students enrolled in the Global Microloan Program will update this site with their weekly program logs. The Fall 2016 student teams include Marketing, Communications and Fundraising; Enterprise Development and Program Impact Audits; and Finance, Budgets and Risk Assessment.

Marketing, Communications, and Fundraising Team: Maya Campbell, Maurice Chew, Evan Dittig*, Vidushi Dyall*, Nicole Hanakis, Corina Harley, Nia Hilson
 
Finance, Budgets, and Risk Assessment Team: Lois Anakwe, Raven Bolding, Courtney Clark, Saavedra Dessesaure, Jessica Flynn, Jean-Emile Leconte II*, Alexander Marino
 
Enterprise Development and Program Impact Audits Team: Fareesha Ali, Michael Coughlin and Dot, Rachel Ergas, Nicolas Hawkins, Oluwaseun (Seun) Odusola*, Param Yonzon, Francesco Zanetti

*Team Liaisons

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Enterprise Development and Program Impact Audits Team
BY: Nicolas Hawkins
Log # 1

When I first arrived to St. John's University my number one goal was to join an International organization to help me continue what I started. Before college, I interned at the World Bank in the International Finance Corporation. Once I heard about GLOBE I knew this was the place for me. I arrived on a normal day during common hour to a room full of life changers. Being a freshman I walked in expecting to apply yet it took me three years to understand the truth impact I was destine for. International Social Entrepreneurship is something I believe doesn’t take a multilateral company or a popular non-profit to be part of. It takes a person who wants to see change in the world. It takes a person who wants to see a single mother want to do right for her children. It takes a person who wants gender equality. It takes a person who wants to see the end of poverty end today. It starts with GLOBE today!
Sometimes before you enter a situation you already have familiarity with you go in over confidant thinking you know the world. I ate a nice slice of humble pie after my first day of class. I began to understand that Social Entrepreneurship is all about developing programs to aid low-income clients through provision of financial services anchoring the next step to make a difference. I asked myself what exactly can I do to live up to this expectation? With in my position I able to make an immediate impact by assisting with development of business plan improvements through financial literacy while handling business in the field, and research specific outcome measures for analyzing GLOBE impact in our borrowing countries. To me I believe the biggest impact I can make is supporting my peers in their respected groups to ensure we all internally advance to see GLOBE grow to its feel potential. I am beyond excited to be working with individuals who share the same passion and drive in ending world poverty and establishing healthy connects to increase self-employed entrepreneurship in developing countries.
During the Enterprise Development reading, the quote that stood out to me the most is  "...give people the freedom to be effective and the sense that they are contributing to something bigger than themselves." When you read that quote what do you really read? Freedom is the choice to choose. We use freedom in the sense for people to fulfill their life long purpose. Our borrowers use this ‘freedom’ to escape or prevent the future generation from facing the social hardships they face today. Us, as GLOBE students, have the ‘freedom’ to change the lives of plenty across the world. We have the ‘freedom’ to influence others to step up and make social change. Are you ready to be ‘free’? I know we are!
 
Finance, Budgets and Risk Assessment Team
BY: Lois Anakwe
Log # 1

This is just the first week of GLOBE and I already feel out of breath. The excitement and exhilaration that courses through my bones as I keep thinking about how we are helping actual, living people, is the cause of this!! When the class began, and I saw all the work we had to do, I was happy and annoyed at the same time. Why? Because of the fact that I have my LSAT soon and this would only hinder my ability to study well. But when we were given the loans to look at, my annoyance dissipated because I knew that there were bigger issues than my LSATs. For this reason, I had to learn to better manage my time. I know being a part of GLOBE, I am doing something much bigger than myself. I am helping people realize that they can do more with their lives. This is so fulfilling for the people on both ends, GLOBE, us, and our clients, who receive the finances to move their lives forward.
I found out about the program in my Junior year due to the fact that many of my friends were either taking the course or had taken it. The one thing they all kept talking about was how great the course was because it gave them a lot of hands on experience. This really piqued my interest in the course. As an International Student, you need every experience you can get in order to look competent in the job market. You want employers to find you attractive so they can hire and, sometime in the future, sponsor your work visa. Thinking about all these things, I decided to apply for the program.
When I applied to the program, I knew that it was going to be a lot of work, especially because I wanted to be on the Finance and Risk Assessment team. However, I knew that this class was not just a normal class, like all the other classes we take. In this course, you learn how to analyze loan requests for clients who were not affluent. Instead, these were actual people who needed financial assistance in order to make their dreams come true. The majority of the clients are women from developing economies who need these funds in order to help their families and become independent. These women, who lived in communities where they are looked down on, these women were not just making things happen for themselves, but for those around them.
I am very glad that there is such an opportunity here at St. John's University. This course should be taken by every business major so that they learn the importance of helping others who are less fortunate than themselves. People these days tend to only think only about succeeding for themselves, and maybe their families, but mostly for themselves. Every college student should go through this, there should be a microfinance course with hands on experience, so that students can see the other side, the non-profit side, of finance.
 
Marketing, Communications and Fundraising Team
BY: Corina Harley
Log # 1

When I first decided that I was going to go to business school, many of my family members looked at me strange. They couldn’t comprehend how such a creative minded student that loved sculpture class and playing guitar was going to make in the “big bad world”, that is business. The young woman who went on service trips and taught CCD class was going to business school? I have always wanted to gain the tools to make a serious change in the way the world functions today. I want to gain the skills to attempt to tackle these “Wicked Problems” (Hunger, sustainability, education, Poverty etc.) that face our world on a daily basis. Business classes have always seemed to give me the tools for me succeed myself but not necessarily to teach others how they themselves can succeed. GLOBE I think is going to be able to fill the gap between smart business practices and socially conscious business practices that my other classes cannot.
Heading into week three I am beginning to see how there are different ways to impact people’s lives and the lives of entire communities. Dr. Sama has told us about some of the women who have been successfully paying back their loans. They are not only bettering themselves financially but with knowledge. They are gaining the skills that you acquire from paying back a loan, and the confidence that comes along with being able to pay it back on time. Social business organizations such as GLOBE are bringing a new understanding of business and how it can truly make a difference in the lives of those living in poverty. In the Muhammad Yunus and the David Bornstein books we are learning how this approach is different than charity. It is creating a network of people in third world countries that can spread their learning and help to bring others out of poverty. In How to change the world, Social Entrepreneurs and the power of new ideas by David Bornstein, there is a line that really captures what I have been learning so far “The Social entrepreneur changes the performance capacity of society ”(3).  This is crucial to what GLOBE as an organization is doing. While donating to those in need is also valuable, teaching them is so important. Teaching them can truly change the performance capacity of the communities we are helping. I am excited to continue to learn about Microfinance and hopefully be able to keep these teachings in whatever job I possess in the future.
To end my first reflection in my GLOBE journey, here is a quote from Yunus himself that I hope continues to shape my thinking as I grow into the creative, imaginative and innovative businesswomen with an itch to make a difference, that I am. "To overcome poverty and the flaws of the economic crisis in our society, we need to envision our social life. We have to free our mind, imagine what has never happened before and write social fiction. We need to imagine things to make them happen. If you don't imagine, it will never happen."

Enterprise Development and Program Impact Audits Team
By: Rachel Ergas
Log # 2

In my previous log, I had mentioned that one of my renewed expectations of G.L.O.B.E was to be challenged passionately. Every week in G.L.O.B.E, we are assigned readings to complete.  One of the chapters I read from the book Banker to the Poor written by Nobel Peace Price winner and founder of Grameen Bank, Muhammad Yunus, tells his story of the beginning of his experience with microcredit. Bangladesh had been going through a devastating famine in 1974. Yunus was stricken by the fact that the village surrounding the university where he lectured and taught about economics was in itself in dire poverty. As he visited and learned about the lives of the people in the village around him, there was this assurgency to make a difference that would help in solving this problem and getting the people in his village to rise above those conditions. Hence, the beginning of Yunus’ practices of microcredit. I want to share this information because I believe his story challenges G.L.O.B.E managers to find that passion and truly understand our mission. That is to contribute in alleviating poverty by providing people living in these conditions in developing countries around that world the chance to bring themselves above those situations through microcredit or as many know as micro-loans.
In addition to our chapter readings, the Enterprise Development and Program Audit team also worked together to complete the Internal Audit surveys. Our internal audit surveys assess how well each team’s efficiency is in working to get their set objectives completed by the end of the semester. Our team has decided to have a two-part survey. We created an online and anonymous based “Common Core” survey sent to each manager in the class to assess their team dynamic. An example would be by providing input on how well team meetings are managed and conducted. This survey was created to address any setbacks so a team may work on improving how well they collaborate together for the remainder of the semester. This would be a proficient effort to get everyone on the same page so that they can achieve a common goal. The second part of the survey pertains directly to the completion progress of each team’s objectives on a measurable 10-point scale. It will be distributed at the mid-point and towards the end of the course. The completion of this new idea was a big challenge that required many efforts from every member of the Program Audit team. I believe the most challenging portion of revitalizing the internal audit process was customizing a point scale grading criteria based on a several varying objectives. The good news is that we have persevered and are proud as a team of our outcome thus far!
 
Finance, Budgets and Risk Assessment Team
BY: Alexander Marino
Log # 2

Last week in class we listened and received advice from former GLOBE managers. The finance team had been debating back and forth on whether to approve or deny one of the applications we have received due to the fact that the business which the borrower wanted to use to loan for was owned by her brother, not her. Upon bringing these concerns up to the former GLOBE managers, they provided some interesting insight into how we should handle situations of questionable borrowers or loans that we are unsure about. They reminded us not to simply see the borrowers and applications as just numbers, facts, and statistics on a sheet of paper. They told us that if something about the initial loan application or the borrower made the loan seem unreasonable to not automatically jump to the conclusion that we have to deny it or else the loan would fail; the reason being is that most of the time, we are the only hope they have for lifting themselves out of poverty, therefore it is better to change the terms of the loan around to better suit them than to deny them an opportunity of lifting themselves out of poverty.
This really spoke to me because one of the things that a former GLOBE fellow, who actually met some of the borrowers, mentioned to us was that there is always more going on in these people’s lives than what they put down in their application. I tied this back to one of the readings we had recently which touched upon the fact that MFIs need to have flexible and creative loan products in order to meet the needs of the borrower, G.L.O.B.E included. I realized that we as a finance team need to look and take into account more than just the tangible facts that the potential borrower provides us with in their applications because the borrowers themselves are much more than that.
In our assigned readings this week, there was a topic that was touched upon known as the “country context.” This context is essentially a study of multiple factors that make up the microfinance environment in a country and determines how successful microfinance operations will be. I believe that it would be a good idea for the finance team to assess some of these facts when we are looking at future loans. Currently the only outside information we have looked at are the businesses of the borrowers and whether or not they are sustainable in the regions they operate in.
Looking and taking into account “big picture” information about the borrower and the environment they operate in will help us to better suit their needs. As we continue learning about microfinance, I believe that the finance team will become more efficient and better understand how to design the loans in the best way possible so that they can have a positive impact on the borrowers, instead of creating a burden for them. I really enjoyed hearing from the former G.L.O.B.E. managers, especially the ones who traveled to meet the borrowers. Hearing the stories that they brought back made me realize how much of an impact we can have on a person. With this in mind, I am glad that we made the decision to approve both loans and look forward to more incoming ones.
 
Marketing, Communications and Fundraising Team
BY: Maurice Chew
Log # 2

Now in our fourth week of the semester, we are fully in the swing of things for GLOBE. The marketing team is coming along well as far as planning things out and setting realistic budgets, and entire group as a whole fully know what to expect. We have been assigned weekly presentations based off of our readings, and some of the readings that the marketing team worked extensively on are the works of Muhammad Yunus. Prior to this program, I couldn’t tell you the first thing about who Muhammad Yunus was, or social entrepreneurship was, but now I am very glad that we read the works of Dr. Yunus directly and his amazing contributions.
I am someone who has never travelled much, with my furthest journey ever being an annual trek to Florida as a child for vacation. I’ve lived in New York my entire life, and while I absolutely it here, I know how limited my experiences are and my knowledge of the world. This is a major factor as to why I wanted to join GLOBE; as an adult I’ve been very curious about other cultures and customs globally and although I am not experiencing them first-hand right now, I am directly involved. I am saying that to say this: Muhammad Yunus’ works have really opened my eyes to things that go on in this world, and the levels of poverty in this country. Obviously I’m aware that there are places in this world without basic human needs or rights available, but here in America it’s easy to lose hold of that because our definition of poverty is so different.
A man on welfare in America may be “middle-class poor” to someone in Bangladesh with no clean water nearby. I’ve always gotten caught in the thinking that poverty is simply something that you can eventually rise up out of, even without outside help, and while that certainly can be true in America, it is not always the case. Not everyone that’s poor got there because of bad life decisions, but because they are a product of their own environment. The cycle of poverty is so hard to break, and that’s why it is so nice to hear Dr. Yunus speak on ways to fix the cycle instead of solely handing out money and donating, with the unrealistic expectation of everything being better off of that alone. By lending a hand but not pulling them up, Yunus gives people a way to help themselves and utilize their skillset and their passion to create themselves anew.
 Ultimately, I’m starting to understand both extreme and moderate poverty more, and why it exists and continues to exist. Only by diagnosing the disease can we begin to cure it. The title of the book I’ve been reading the most out of is Creating a World Without Poverty and the more I read Dr. Yunus’ words the more I believe in the mission. By dedicating his life’s work to this sole purpose, he has laid the blueprint for healing the world, it’s now up to us—one person at a time, to help implement this goal. 

Enterprise Development and Program Impact Audits Team
By: Fareesha Ali
Log # 3

As the class enters the fourth week of the Fall 2016 semester, and the fourth week of the GLOBE class; I can’t help but think at how fast the semester is going by. The class has been very productive these past weeks. Being that I am a part of the Enterprise & Development team, one of our objectives is to internally audit each of the teams. We decided to send out surveys for each of the team members to fill out, based each team’s response that would determine if the team members are working towards achieving their objectives. Based on the responses that we received, the teams are doing an excellent job at completing tasks to achieve their goals. I am honestly so proud to be a part of a class of phenomenal students that are working towards something greater then themselves. At first I was a little skeptical at how the class would achieve so many tasks with such little time.
However, the GLOBE managers have done an awesome job at managing their time to achieve their goals. In my own team, each of my team members & I make sure that we allocate sufficient time to work on meeting our own objectives.  GLOBE has become such an important part of my life, and I don’t view the class as any other class that I am taking this semester. Last Saturday the GLOBE members had a table at the Ladies of Charity event. It was such an aspiring event, and I was very thrilled at our turn out. The Marketing/IT team did a phenomenal job using Snapchat to document GLOBE activities during the event. Social media is taking over, and it is one of the best tools that one can use to their advantage. I am so proud at how my peers have used technology so creatively, and they are also boosting the image of GLOBE.
The Finance team has also approved their first two loans of the semester, this is not an easy process, and the Finance division got the job done with ease. They definitely made that daunting process look like a piece of cake. As I reflect back on these last four weeks of GLOBE I am proud of the progress the class has made. Dr. Sama definitely has her work cut out for her and she is a great professor. There is a lot of material that is to be covered this semester & for every GLOBE class. Dr. Sama lays out the course work efficiently. This inspires me to pursue becoming a professor some time during my career. Each morning when I wake up I think about my purpose in life, and GLOBE has given me a greater meaning to myself. It feels good knowing that the work I am putting in is for the greater good.
Above all the borrowers inspire me to live my life with purpose. If they can have the courage to borrow microloans, with little to no finical literacy, and create businesses in hopes of alleviating their families out of poverty.  Then I can do the same; being that I live in the United States with an abundant amount of resources can achieve my goals. These past four weeks of class have been very inspiring, and I am proud at the work the class has achieved this far. I cannot wait to see what other milestones we reach as a class within the next weeks.
 
By: Francesco Zanetti
Log #3

As one more week goes by the GLOBE entrepreneurs touched on new topics and faced new challenges with their respective groups. This past week we had to submit the proposals for the individual position paper, and I decided to write mine on the importance and effects of ethics on microfinance. Luckily for me I was able to have the entire class lecture dedicated to that topic, which broadened my understanding of ethics even more and gave me valuable information that I will take into consideration when I will be writing the position paper.
The reason I chose ethics is because I believe that it plays a major role in the establishment and success of a microfinance business, as it draws a line between business that enter the microfinance industry with the purpose of helping the bottom tier of the poverty pyramid shrink and allow people living in extreme poverty the opportunity to help themselves and work their way out of their situation with some assistance, and business that have the sole purpose of helping others without keeping profits as the primary focus. These businesses are generally not for profit but sometimes they are, however, what differentiates ethical businesses from unethical ones is their commitment towards the success of the borrowers, and considering the success of a loan more valuable than a higher profitability. One of the aspects I most admire about GLOBE is the complete focus on having the borrower reach all the goals set prior to taking out a loan. The repayment of the loan is still a very important aspect that is taken into consideration, however, GLOBE is not acting to make a profit, rather to help give these people living in extreme poverty an opportunity to get out of their misery and enter a whole different way of living in which they have their own business and are able to live off of it.
As the class progressed each group had the opportunity to present their assigned material and share with the class stories of individuals or groups of people whose lives have gone through a tremendous change with the introduction of microfinance. The Enterprise Development group covered the story of this lady named Sufiya Begum, a young lady who found herself in a situation that is not too far from what would be considered slavery. Sufiya was in a situation that is fairly common amongst the poorest of the poor, in which an individual borrows raw materials and agrees to sell it back to the same person that provided the raw materials for a price that is much lower than market value and is barely enough to keep that person alive and coming back for more raw materials to survive long enough only to borrow again and let the cycle go on. People in this situation simply have no way of getting themselves out, except with the help of a microloan. Unfortunately, before Muhammad Yunus started to spread the concept of microlending, it was practically impossible for people with no assets or collateral to be considered for a loan.
What I found extraordinary is the commitment and confidence Yunus had in his vision and making it a reality for the sake of those living a life of constant misery. He believed that these people did not need assets or anything to insure they repayment of the loan, because that loan was their only hope of making it out of the slavery-like situation they were in and they would be doing anything in their power to prevent failure. Microloans turned out to be incredibly successful, with a 98% payback rate, making them far more positive than the rate of general loans issued to people with assets.
 
Finance, Budgets and Risk Assessment Team
By: Courtney Clark
Log #3

After the Steering Committee Meeting last Wednesday, which I was grateful to be in attendance for, I am happy to say that we already have our first two loans of the semester approved! As I was going over my notes and the research the Finance Team had worked on while trying to calm my nerves before the meeting, I realized that my part in the meeting was not about me at all. No matter how nervous I was, I was presenting the loan recommendation for Trinh, our Vietnamese borrower seeking to buy a laptop for overtime projects at the architecture company she works at. It was my job to present the carefully thought out recommendation the Finance Team had prepared, and it was to give Trinh a chance to help her family. One thing that resonated with me in Trinh’s application was the fact that she has a younger brother and sister, who she is helping to put through college. Having a younger brother and sister myself, I thought about how much I try to do for my siblings and help them on a daily basis. Being the older sibling, I feel a responsibility to my siblings, and I love that I can be someone they can count on and trust to always be there for them. In thinking about this, I really felt a connection to Trinh, realizing that I would want to do all that I can to help my family, too. So in the end, my nerves were worth it because it truly was about doing my best to represent Trinh’s case and help her to have the opportunity to not only give herself a way out of poverty, but also her entire family, too.
Presenting these loans to the Steering Committee and listening to the GLOBE fellows speak about meeting the borrowers made it evident how much of an impact we can have. The unanimous support by the faculty and administration at St. John’s, who take time out of their day to meet with us and listen to our proposals and ideas, goes to show that the work GLOBE does, and the difference that we can make, is encouraged and valued by the university. Included in this network of supporters are the Ladies of Charity, whose national assembly GLOBE attended this past weekend, as well. Getting the chance to talk to some of them and see how passionate they are about the work GLOBE is doing, even hearing some of their ideas for new fundraisers and projects, really emphasized the fact that we are not alone in this fight against poverty. Many people see the extent of poverty in the world and think that they cannot do anything significant to help alleviate it. Even in a room of 21 college students, it seems extremely difficult to have a real impact on the world, but when I see all the people who are involved and all the groups that GLOBE partners with, such as the Ladies of Charity and the Daughters of Charity, it becomes clear that we have already made an impact and have the ability to continue to make a difference for people.
In class last Tuesday, we discussed how while there is so much good that microfinance can do, there are also many ways that it can be abused. Microfinance institutions can be difficult to regulate and can lead to corruption and high interest rates that take advantage of those in poverty receiving loans. It is important to keep in mind that there is no one simple formula to microfinance that can alleviate poverty, and it must be closely monitored to make sure that it is serving its purpose of helping those in need in the best way possible. In any business, there is potential for abuses of power and taking advantage of the vulnerable. Microfinance itself, however, should not be written off because of this, as it has been shown that it can have a positive impact on society. GLOBE is a clear example of this, and it shows that microfinance, if designed and run ethically keeping in mind the needs of the clients, can be a viable way to lift people out of poverty.
 
Marketing, Communications and Fundraising Team
By: Maya Campbell
Log # 3

This week in class we learned about the ethics of microfinance. One thing I found very interesting was the Helping Hands and Hindering Hand concept. Helping Hands helps alleviate poverty, empowers women, has a positive community impact, and promotes conflict resolution. Some positive results are incomes and savings, school enrollment rates, infant mortality, gender relations and food supply and consumption. Hindering Hands addresses the “well off” poor, may aggravate conflict, marginalize large percentages of populations and only benefit those with access to education and healthcare. Some negative results are the increase of inequality, conflict and violence, opportunity costs, lag between growth and regulations in microfinance. I found it interesting to see how microfinance can have some negative results when improperly structured. When structured properly microfinance is more of help than a hindrance.
This weekend was the Ladies of Charity event. Unfortunately I could not attend because I was out of town, but I heard nothing but very good things about the event. I was able to see how the event was going via snapchat so that was fun. A lot of cool GLOBE merchandise like t-shirts, flash drives and back massagers were sold as well as bringing awareness to GLOBE and informing other about what we do. Another awareness event coming up is the GLOBE informational. I’m excited to see all the people that come out and the possible potential spring GLOBE class. Surprisingly enough many people don’t know about GLOBE. Yesterday I was talking to one of my teachers before class and I mentioned something I had to do for GLOBE, assuming faculty knew about the program. He was unaware that St. John’s had a program that allows you to have a hands on experience. As a Marketing/IT team member I am excited to inform the St. John’s community about how amazing this program is so that they might want to become a member and actually help others.   
In addition, the Marketing/IT team got to meet with Lina again about the events we have coming up. We began finalizing things about for the Treat for Change event which I am very excited about. Nicole made a really cool flyer for the event and Lina loved it. We also discussed our ideas on the appreciation luncheon which is going to be coming up before we know it. The luncheon is going to require a lot of work but it will definitely be worth it. I really love helping plan all of these events so I hope they turn out just as we imagine it.

Enterprise Development and Program Impact Audits Team
By: Oluwaseun Odusola
Log # 4

For the Enterprise Development team, this week was about setting new goals to accomplish. We planned on creating a draft for the letter we would like to send to the Daughters in Nicaragua. The drafting process of this letter made us further understand our objectives and even change up a few things, especially regarding deadlines. We are excited to see what the letter will produce, as well as the Daughters’ thoughts on our pamphlet, newsletter, and follow-up survey ideas.
We also created biweekly surveys for all the teams. This was an untouched area, and a mechanism that hasn’t been used by previous Enterprise teams. Our team did a great job working together to compose the questions for each team, based on the responses from the previous survey. It was great to see that Dr. Sama and the rest of the teams liked the first survey and feedback. This pushed us harder to make the second survey more effective.
The second survey is important because it’s going to show the efficiency or lack thereof of the first survey on each team. It will bring up the answers of whether each team took the response and feedback to mind, and found solutions to the challenges that arose.
During class, we learned about the differences between microfinance in developed and developing countries. During this lecture, Dr. Sama further explained the reason GLOBE works with borrowers in developing countries rather than those in developed ones. The most prominent reason was related to the financial part of providing loans. Borrowers in developed countries tend to ask for greater amounts of money, in comparison to those in developing countries (of course this is taking into consideration the currency value of the US dollar to the borrower countries’).
An observation I made was that a lot of the ideas in lectures and team presentations are intertwined. This is especially common when it comes to an issue the Enterprise Development team is working on: gauging the impact loans make in the lives of borrowers and communities at large.
My most important takeaway this week is the revelation of the importance of building a community among ourselves (GLOBE Managers). As the weeks pass by, we get closer, and become a less divided group of teams. The rapport developed each week helps in making the process of achieving objectives more entertaining. It also creates the opportunity to have a constant reminder for the reason we are in GLOBE. It is as if each manager receives energy from the whole group. This creation of a community of managers will be essential during the weeks where accomplishments, motivation, and determination might be running low.
All in all, just like other weeks, this week has been about taking steps to achieve objectives, building relationships, and learning more about GLOBE and the importance of its existence.
 
 
Finance, Budgets and Risk Assessment Team
BY: Jessica Flynn
Log #4

As I tell more people about our GLOBE program, I am often asked the question, “Why doesn’t your class focus on providing loans for poor people in the United States?” My response is that every loan we give makes a bigger difference overseas due to the strength of the dollar in comparison to currency of the countries in which we operate. I have learned that there are major regulatory issues in America, which would make it too complicated for loan transactions. Small domestic loans would be so much more expensive, which would pose a serious challenge to our program. We chose to not stay domestic because we can help so many more people internationally. Dr. Sama also encourages our class to look internationally because not all of us have seen the face of poverty elsewhere.
Our lecture this week focused on comparing and contrasting microfinance in the United States with microfinance internationally. As previously mentioned, microloans in the United States are higher ($3,000 and up) than international microloans ($60-$1,000) because the value of the dollar is so much stronger in poorer countries. The competition here in the United States is overall greater than competition in poorer countries, such as Vietnam and Africa. Due to this intense competition, it is much harder for an aspiring entrepreneur to open a successful small pizza place in New York than it is to open an eating-house in Vietnam. There are six pizzerias in my neighborhood alone, but there may be only one or two eating-houses in an entire province in Vietnam. The increased competition makes it incredibly difficult to differentiate one’s business in the United States, and therefore even harder for a hopeful entrepreneur to succeed.
Our Finance team mainly focused on microfinance institutions in Nigeria this week. I learned that informal microfinance in the form of group lending has existed in Nigeria even before the emergence of microfinance institutions. There are many challenges that prevent microfinance to operate efficiently in Nigeria, and “their survival tool kit lacks skills that are essential to enter the employment mainstream of the economy.” The lack of government funding and usurious interest rates pose serious threats and contribute to the huge unserved market of over 80 million people, or 65% of Nigeria’s population, in need of a microloan. After reading about the need for microfinance in Nigeria I am hopeful that we will receive applications to help more Nigerian borrowers become part of the GLOBE community.
 
 
Marketing, Communications and Fundraising Team
BY: Maurice Chew
Log # 4

I can’t believe it’s already week 7 of GLOBE and the semester. I have to say, this has easily been the hardest semester so far. Each class I’m taking is like a full-time job, and managing everything at once is testing by abilities of time management and productivity. Obviously, these two factors is very important to what we’re doing here at GLOBE and it is imperative that I maximize my effort efficiently. I found an internship opportunity this summer to work in the Fall and unfortunately for them, I had to resign because my workload was so daunting for the semester but I already don’t regret it. To start the semester I was very stressed out and could barely figure out how to manage my time the way that I wanted to. Instead, I decided to focus completely on school and it has been addition by subtraction.
This is my senior year and I am at a place in my college career where I know exactly what is expected of me and the sacrifices that I will need to make to get it done. The senior year struggles at the end of the day are all worth it. I made a vow to be heavily involved in my classes and campus this semester and GLOBE is a great way to get that done. Being in GLOBE, I constantly have to attend events and be involved in a way that I haven’t really before all for a noble cause.
Something that I’m really looking forward for is the Give Campus posting. Our team has been interacting a lot lately and I’m genuinely excited for what we have coming. I really think that GLOBE is an amalgam of the best students that St. John’s has to offer. Everyone on the team is so open and is so willing to make GLOBE successful. After much conversation in class, we have started planning a script for the Give Campus video. I think this is an amazing opportunity for the Marketing and IT team to put a stamp on GLOBE as a whole and use our creativity to push a product that garners interests and spreads. The main goal of the Marketing and IT team is raising awareness (and the occasional dollar is always welcomed). By branching out and creating a great video available online people from all over will be able to know what we do here at St. John’s as long as we promote it right.
All in all, every week we’re constantly working on something but the potential returns and outcomes make it all worth it. I’m trying very hard to get involved more and really integrate myself more into the GLOBE team and now that I have the time I don’t see that being an issue. We still have about two months left in the semester and tons of events so stay tuned to see how they turn out.           
 
BY: Nicole Hanakis
Log #4
 
This week of GLOBE was particularly interesting, especially after reading the second chapter of Joanna Ledgerwood’s Microfinance Handbook. I learned so much more about target market and the impact analysis of social business. Although the marketing concepts initially appear the same as a for profit company, the twist of running a social business is significant. When giving microloans, MFI’s must be extraordinarily specific in choosing their target market. Just because a person may appear to meet all of our borrower requirements, we also must ensure that this individual is completely invested in their business. MFI’s must also avoid covariance risk, which reminded me of an investor diversifying their stock portfolio. For example, if an MFI is too heavily invested in several different sites of mango production in Vietnam, the MFI holds great risk if there is a sudden catalyst that affects mango growth and sales. Thankfully, GLOBE has an extremely diverse loan portfolio in several different countries so we do not hold a lot of this risk.
So far running the social media accounts has been a great learning experience and quite a lot of fun! It has taken some time for me to break out of my shell and really try to showcase my creativity through our posts. I still have some way to go, but I love the creation aspect of our social media ads and being able to measure and improve upon them later. One thing I have noticed with our Facebook account is that our posts with the highest engagement are our Snapchat stories. Not only were these some of our most unique posts, but the fact that they both happen to be videos is incredibly meaningful. Facebook has geared a lot of their personal newsfeeds towards videos.  At its inception, the majority of posts were pictures or status updates. However we see can see now how Facebook is not only pushing videos to its users, but how users are responding by engaging, sharing and liking more and more videos! So not only are our followers more used to seeing our videos pop up on their newsfeeds, they’re also more interested. Not only this, but every time I look at my newsfeed I notice Facebook advertising their “boost” option on our Snapchat video posts. I suppose what I am trying to say is that it should be no surprise that our videos are the most successful (even if it took me a few weeks to realize this.) Since Facebook is moving to a more video platform and users are responding well, GLOBE should also adjust with this pattern. I believe that our success with the Snapchat stories on Facebook would not translate to other media platforms like Twitter, because Twitter is used for quick one-liners and short, witty comments. I predict that our next video we post on Facebook (which should be our GiveCampus ad) will provide us with higher engagement, similar to our Snapchat story videos. Fingers crossed, it goes viral.

Enterprise Development and Program Impact Audits Team
By: Michael Coughlin
Log # 5

So we are at the midpoint of the semester now. Wow has the time flown! At the beginning of this semester my group and I thought “how can we make this GLOBE class better than it ever has been before?” And “how can we just immediately jump in the shoes of last semester’s Enterprise and Development impact audits team?” “The past GLOBE classes have done so much, and we’re the new guys. We have known idea how to do anything.”
Well here we are now, 7 weeks later, and we just presented our midterm presentations. Creating the slides and presenting showed us just what all we have done, and man it’s more than we ever thought. We started with completely overhauling the way internal audits are done. Who were we to do that? No enterprise team in the past six years ever thought to do that; but we did. Guess what it was a huge success. That was crazy to do for just a bunch of new people on a team called Enterprise Development and Impact Audits.            
Furthermore, we created an entire new survey to give to borrowers one year after the final payment of their loan, and to those who loans are already paid back. Again something completely new. We really want to get a better understanding of how our loans are impacting our borrowers and their community.
My team has accomplished several of our biggest objectives just halfway through the semester. I am so proud of them and myself. But personally how have I grown as a person? When I became a member of the GLOBE team I had a slight understanding of micro finance. I thought at the time it was a much better understanding, but it wasn’t as much as I thought. Now after being in class, sitting through six lectures, reading and presenting on parts of five main textbooks, my favorite of which were written by Muhammad Yunus. I get it. I understand the amounts of poverty out there. I understand that we are all incredibly lucky to be living in the United States. I understand that women are treated terribly in most of these countries. The men of these countries control their wives, they believe the women are not capable of having anything to do with money. All they are good for in the eyes of their husbands is raising kids, and small jobs around the house, if that’s what you want to call what they live in.
But here we are complaining about our amazing situation in the United States. We are so lucky to be here. I have grown to understand all of this. I have grown to appreciate the chance I was given to try and make an actual difference in the world and not just my community. So I will take that chance I was given, use what I have learned, and make the best of it. That is what my team and I have done, and hope to continue to do with the remaining time we have in the semester.
 
By: Rachel Ergas
Log #5
In this log, I wanted to reflect on what it means for me to be in an organization like GLOBE. I’ve never really spoken about how GLOBE affected me personally in the semester so far. Like millions of people in the U.S. and many, many students in our school, I come from an immigrant family. I am first generation born here in the U.S. My family immigrated from the Philippines. The Philippines is the most recent country where GLOBE operates in. This hits close to home because when I learned that GLOBE existed in the Philippines, it really did trigger a different kind of appreciation for what we do here.
I have close relatives in the Philippines and many of them live in the rural areas, sometimes referred to as “the province”. I visited almost every summer growing up when school was out. My grandfather raised cattle and attended to rice paddies. It was tough on his body at an older age, but, it is what kept him so physically strong and healthy all these years. I also remember watching my grandma sifting through the rice for several hours, picking out the bad ones. Despite the fact that their livelihoods required so much effort, they never once complained. In fact, they enjoyed their lives. My grandparents were always very excited to see their family all together during the summer. I remember my mom saying that it is the best part of the year for them because they get to see ALL of their family together, especially the grandchildren. My family in the Philippines by no means had much, but they were so rich in happiness. My mother and father feel very lucky that an opportunity arose for them to have and raise their children in America. 
If there was one similarity I learned about my family in the Philippines and our borrowers there, it’s that hard work is a way of life. As long as there is a way to feed their families and care for them, they will work as hard as they can to make it happen. That is what we hope for, for our borrowers. You give them just that opportunity to get themselves out of the cycle of poverty, and they understand the value of this loan enough to give it their all so that they could care for themselves and their families. 
Often times, we take things for granted and we always feel that what we have in life is never enough. Then, through our experiences, and through what we discover along the way, we open up our minds and our hearts to what is outside of the world we live in. That is the perspective that GLOBE brings to me. What we do here is bigger than ourselves. We just have to be reminded of that sometimes so we can truly appreciate everything we have in our lives. 
 
Finance, Budgets and Risk Assessment Team
By: Courtney Clark
Log #5

At the beginning of the semester, the Finance team set some fairly ambitious objectives, and it was hard to picture how we would get them accomplished. Now, at the midterm point of the semester, I can say that we have really put the effort in to make substantial progress on them and put ourselves on a good track to reach our goals by the end of the semester. Last Wednesday, the Finance Team had a meeting to learn more about what we have to look at when analyzing the borrower profile and determining loans to be written off. After this meeting, we have a much better understanding of how to move forward with our objectives. In addition, we have been in contact with Sr. Mary Louise Stubbs in requesting her suggestion for countries to move forward with research in trying to add a new country for GLOBE to operate in. While we still have a lot of work to do in order to fully achieve our objective, I believe we have done substantial and meaningful work up to this point in the semester.
It is amazing that we are at the midterm already. I can still vividly remember the first day of class, not knowing where this semester would take me. The question was asked in the last class, “Do you think of yourself as a social entrepreneur?” Honestly, I had not thought of it that way, but it is true. Each member of GLOBE truly is a social entrepreneur, working to create a positive systemic social impact in the world, given our own resources and opportunities. I had thought of social entrepreneurs as the well-known people who have accomplished these goals by implementing a social mission in a business framework, such as Mohammad Yunus or Florence Nightingale. Each GLOBE manager, however, fits these characteristics, as well. We devise solutions to obstacles we face, using innovation and perseverance to achieve our social mission, aimed at creating that systemic change. I realized that whether it is a large scale initiative or smaller program, social entrepreneurs are present across the entire range through their mission to have a positive impact on the world we live in. All large initiatives have to start small somewhere, too.
It is important, also, to stay grounded in the program’s mission. Especially as the Finance team, we are concerned with adding a new country of operation, recommending loans that we believe will be paid back, and looking at how GLOBE should allocate its funds. While we deal a lot with the “numbers” side of things, we have to always remember that everything we do is ultimately to help our borrowers. In many finance classes, there can be a tendency to neglect this aspect of trying to help real people, which is another reason why I believe GLOBE is such a great experience. While utilizing the principles of business and finance, we work to create the best products and program for our borrowers. It is not so much about the numbers as it is about the people we are helping.
 
Marketing, Communications and Fundraising Team
By: Corina Harley
Log # 5

As we approach the midway point in the semester, it is becoming increasingly clear that this semester is in deed flying by just like Dr. Sama said it would. I was home this past weekend and I was wearing my GLOBE wristband and at a family party I was asked by multiple people what G.L.O.B.E. stood for. Over the summer when I tried to explain the program I did not feel like I was getting the true message of the program across to those that asked. But now only seven weeks in, I am substantially more confident in explaining not only what the program is at St. John’s but explaining what Microfinance and Social Entrepreneurship are. Before I could explain GLOBE in the same way that you would read it on a flyer or pamphlet. Now being involved in the organization and learning the ins and outs of what makes it run, and what a crucial part each one of the managers play. I truly felt that I was able to make others understand my passion for the organization. And that was worth all the work we have been putting in and will continue to put in.
The Marketing managers have been hard at work planning all of our events. We are a month out from our huge Appreciation Luncheon and only two weeks out from our first big fundraising event and the launch of our crowdsourcing campaign. Our group is continuing to generate new ideas and we have completed the script for our promotional video for Give Campus. We have been working great together. We have been able to delegate work and stay on task so that everything is running smoothly. Our biggest challenges have been things that are out of our control, such as securing a table for the Mid-term stress event. But even with the event not executed we did not let that get us down; we knew there was a way to make sure our objectives are still being completed even with minor set backs. Quickly a new concept was born. Which is to have a “finals survival pack”. We will have much more time to book a table and now have time to make the event the best it could be.
On the Social media side of our marketing team, we have been able to create more engagement on the Internet than the program has ever seen. We are incredibly proud and are enjoying every step of getting the St. John’s University community more involved, as well as the general public outside the university. If this is the progress we have made so far I can’t even imagine how the posting strategy will continue to evolve and generate more buzz for the organization as a whole.
So far I am very proud of our group. In this past week alone we completed the script for the Give campus video, secured the video equipment in order to start shooting once our script is approved, had a successful info session, hung up flyers all over campus for “Treat for change” and completed our midterm presentation. I am so thankful to be apart of this hardworking team and feel confident that we will complete all of our objectives and more by the end of the semester. 

Enterprise Development and Program Impact Audits Team
By: Param Yonzon
Log # 6

This week in GLOBE we had a guest speaker, Dr. Branton, who is a professor in anthropology and part of the GLOBE steering committee that came to our class and enlightened us with an idea of how we can create more value to the borrower through creating a map for their neighborhood and city. We could give the borrower information about places to go and perhaps new locations in their city that they are not aware about. Dr. Branton also showed us how impactful data could be for the borrower, so they are informed of the different things that could possible affect their performance or business.
I think being on the enterprise development and internal audit team, one of the things we have to focus on is coming up with creative solutions to the risks that these borrowers naturally inherit through being born/living in that region of the world. One of the things we started to think about is how we could create more value for the borrower through the informational pamphlet we give to them. Most of it already contains certain health precautions and how to stay healthy, so they don’t get sick. I think another thing we have to take into account is that most of these borrowers are women and so we should think about the risks they have to consider with being a women.
Dr. Branton also started giving me ideas of how we could present our results at the end of the year at the final presentation. I think people like to see visuals and see how each community, city, and country is being impacted. It’s also important to show the different dynamics that the finance team has to consider when making these loans. A place in Vietnam is much different from a place in Nicaragua.
The last thing I would like to bring up is that subtle stereotypes we have of different countries and cultures. Dr. Branton showed us a picture of the different stereotypical names people gave countries. The US was known as the “civilized country”, while all of Africa (a continent!) was just placed with just two categories. Dr. Branton also talked about how people talk about Africa like it’s just one big country. Africa can fit in it the United States, China, Britain, Japan, and a couple of more countries. Africa is too big to just be labeled or thought of as one entity. There are so many different cultures, races, practices, religions, etc. GLOBE is here to break those stereotypes and bring them to awareness.
 
Finance, Budgets and Risk Assessment Team
BY: Jean Leconte II
Log #6

Week 6! I have sold the other five Globe wristbands and will bring the $20 in profit today to class. I am continuing to encourage my team to not be shy about approaching other students or maybe even their professors about not just buying the wristband but also making sure they are informed about the program. I am very excited about the five new loans from Nicaragua, the new loan from Vietnam and look forward to presenting to the steering committee. Speaking of the steering committee, as communicated to you via email I set up a meeting John Doyle for November 4th. This creates a deadline for the team to complete the objective of creating a demographics table in Excel as it this will be necessary for John Doyle to have this information to teach us how to construct the ranking system and regression analysis.
I have been making progressing on the position paper. I feel like a reminder is needed about this in class. I think a lot of people forgot about it and this is definitely not something to put off until the last day. I want to do business in Kenya once some of the companies I plan to start are established and so doing early research on its’ economy now for the position paper has been great. Money is almost always on my mind and with the bake sale coming up I made sure to sign up for two shifts. One of the things my experience in the fraternity has shown me is that bake sales can be very profitable. Speaking of very profitable the crowdfunding campaign will begin soon! I’m hoping to hear some updates on what the roll out will look like in class today.
Since the second information session I have begun to get more people inquiring about Globe whenever I wear the T-shirt around so that’s been a positive sign. I am also eager to see how you evaluated me in the midterm assessment. I am confident I did well which is a relief because I didn’t do as well as I could have for my other classes. I’ve been swamped with interviews at a very large number of companies and it distracted me from school during a critical time but what I am happy to report is that speaking about Globe during these interviews went extremely well. Everybody who interviewed me was very interested in hearing about the program and wanted to know a lot about it and in the end think you have created something truly special.
 
Marketing, Communications and Fundraising Team
BY: Vidushi Dyall
Log # 6

We are over halfway through the semester and even though time has been flying by, it is daunting to think about all the things that are to come. We’ve spent the entire semester thus far laying the groundwork for achieving our objectives but the lion share of our effort will be expected to come to fruition in the coming month. Our first fundraising event is fast approaching and I’m so thankful to the entire class for pitching in, because we have very high expectations for this event and the marketing/IT team can’t do this alone.
I’m also extremely proud of our team for putting together our promotional video. This will be the main focus of our Givecampus campaign which is going to be the real moneymaker of GLOBE.  An interesting GLOBE related thing that happened to me this week took place in my comparative government of Western Europe class. My teacher very briefly touched on microfinance in one of her slides on welfare capitalism and polled the class to see who knew what microfinance was. Much to my chagrin I was the only person who raised their hand. Even my professor was surprised and when she asked how I knew what microfinance was, I took the opportunity to give a GLOBE pitch (and shout out our social media/upcoming Givecampus). What was probably meant to be a 30 second discussion actually turned into a 10-15 minute discussion. Though I was disappointed about how many people are completely in the dark when it comes to microfinance, I now see this as motivation. In that particular class that I would have thought at least a few people would know about microfinance, considering it tackles global issues like poverty, not a single person knew! This made me think, nobody in any of my other classes probably know either. That’s hundreds of people that I see on a day to day basis, that I can enlighten and spread awareness to. And this is just a small fragment of the overall reach I can have. If my experience is similar to the other managers in the class, just imagine how many people we can educate without going out our way at all? You don’t need to be out on the streets passing pamphlets or knocking door to door to spread the word about a cause when you are surrounded by hundreds of people, in class, work, clubs that are right in front of you waiting to be informed.
With our Givecampus campaign kicking off very soon, this epiphany came at the perfect time. I know I can reach a huge audience and there’s no obstacle in my way to prevent me from simply speaking up and explaining what GLOBE does. I keep stressing this point but it is a really exciting prospect to think about: if every manager were to share GLOBE with the people in their lives, that they see every day, our reach would be unparalleled, which I have no doubt would reflect in both our give campus efforts and achievements.
           
BY: Nicole Hanakis
Log #6
This week of GLOBE was my busiest week yet! We finally finished our GiveCampus ad and I am so excited to launch it! Here’s a rundown of pretty much everything that happened this weekend. I dedicated all of Saturday morning and afternoon to learning how to work iMovie. It is not only one of Apple’s most ingenious tools, but also one of the most frustrating. I must say though, once you get the hang of it, the content created is wonderful. We ended up rewriting the script because our initial plan was too complicated for us to film and animate. Instead, we settled on filming some of our managers and adding pictures of our borrowers, which ended up being even better than our initial outline. We spent all of Sunday filming and editing. Our biggest concern was audio. Since it was so windy this weekend there was no way we could use the original audio from our filmed video. Although this was almost a huge problem, Nia had the great idea of recording our voices in a quiet place, and playing them over the videos of us talking. So we watched the videos of us speaking and then recorded our voices speaking at the same pace to ensure that our lips would match with our voices. This process was definitely tedious, it worked out perfectly. I had no idea that creating a minute long video would take over ten hours to imagine and create.
So because of GLOBE, not only have I gained massive respect for those who film and edit movies, but I am also so thankful I have gained this irreplaceable experience. I never knew I would enjoy video creation and editing so much. I am also so relieved we finished the video early because it gives us some more time to put the finishing touches on the video, and receive some feedback from our class when we show it to them today. I really hope everyone enjoys it. I believe we launch our GiveCampus campaign on November 1st, so we will release the video to our social media accounts then. I have been doing some online research about what time is best to post on social media, and I have noticed most sources say at around 1-3pm weekdays. We tested this last week and posted an article on Facebook at around 1pm. We immediately received several likes, the quickest we have ever engaged our audience. Since this advertisement is so important, we might use this same strategy unless we find other data that suggests a better method. 

Enterprise Development and Program Impact Audits Team
BY: Seun Odusola
Log #7

The past two weeks have been filled with assigning and completing tasks, as well as facing reality. Although the class only assembled once in the last two weeks, the Enterprise team had quite a few meetings. We have several tasks at hand, since the semester was coming close to the beginning of the second half. Midterm surveys were created, articles for PowerPoint presentations were decided upon, midterm feedbacks were created, and biweekly surveys were also created. There was a lot going on!
We had to work both face to face and online in order to coordinate tasks. Aside from this, after the completion of the feedback for our team, we found out that we had the lowest audit score. It was disappointing. But at the same time it made us realize that we had a lot to do before the team rehearsals. It was also interesting to see how the objectives we created led to the low score we got. The objectives were created in such a way that it depended on email responses from the Daughters of Charity in countries of operation, as well as objective points that were due in the middle or later parts of November. This means that if our team buckles up for the ride, we will definitely get a much better score for the final impact audit survey.
The Treat for Change event also occurred during the week. It was great to be able to see goods we made, while also spreading the word about GLOBE. While selling the produce, I noticed that some were so impressed about what we did for those living in poverty that even though they didn’t want any of the treats, they were interested in donating. This was surprising because the act of donating was not only common among adults, but also among peers. It was great to see that we weren’t the only ones who cared about the living conditions of those who lacked monetary resources. In addition, a previous GLOBE manager, Kamoy, helped with selling the treats. Kamoy, alongside I, walked around the tables in Marillac, to sell baked goods. This experience showed me that not only was there an increase in sale when the goods were directly sold to the target market, but also that even when the semester is done, managers always feel a long lasting connection to GLOBE. A connection that makes them still feel part of the GLOBE community, and find ways to help the program succeed. The Treat for Change was a success and we gained over $500, which is more than what the Marketing team planned to earn! It showed the positive impact of collaboration.
I was also able to see Habitat for Humanity from a different perspective due to a lecture by James Monnier. I had volunteered for the organizations on different occasions. But it was great to see the impact which the organization made, from the perspective of someone who was part of its internal operation. I was able to see the impact that the availability of capital could make in improving living conditions of those in poverty for generations to come. I volunteered in Habitat for Humanity with hopes of making these impact. But it was astonishing to see the operations that went on to create funding, and also hear a firsthand perspective of the impact the organization makes both in the domestic and international community.
The past two weeks both required hard work, venturing into new areas, learning more about the microfinance industry, and tightening belts to not lose sight of the objectives we are yet to accomplish.
 
Finance, Budgets and Risk Assessment Team
BY: Saavedra Dessesaure
Log # 7

Last week was our bake sale for GLOBE where we made a lot of baked goods and walked around campus promoting GLOBE with our theme “Treat for change”. I believe our event was so successful because everyone contributed his or her time to sell and also made food to contribute to this mission. Not only that, going around with our lovely Sponsors Monsters and telling college students who are impartial to spending money in the first place, donate literally pennies and they can receive a treat really helped.
From that event alone it shows how dedicated collectively we are to this class. I also appreciate the IT and Marketing to aligning their objectives with creating innovative ideas to get people engaged and committed to supporting GLOBE.
Today in class, I had the opportunity to sit in on an intriguing presentation on Habitat Humanity for one Steering Committee member named Jim Monnier. I learned about the purpose of Habitat and a lot of the campaigns and growth within this non-profit and difficulty they face expanding in the 70 countries they service. One thing I found fascinating is that ninety percent of their projects happen domestically while only ten percent abroad.
I am familiar with Habitat because this non-profit has grown in my own community of New Rochelle in Westchester County, NY. For example before there was only one small location for Habitat but in the past few years they expanded another one of their business structures called Habitat for Humanity ReStores. Those are nonprofit home improvement stores and donation centers that sell new and gently used furniture, home accessories, building materials, and appliances. They have similar models to your local second hand shop or Salvation Army. Habitat for Humanity ReStores is operated by local Habitat for Humanity affiliates, and proceeds are used to build homes. These stores help the Non-profit’s goal to provide people with comfortable living situations while also being sustainable.
One thing in class I learned about MFI’s is the structure of financial products needs to fit in to the culture, customs and practices of the people in that country. This directly translates to how Habitat goes about building housing structures in different countries.
One lesson Mr. Monnier conveyed to us about building the right type of housing for people is to, “ask the right people the questions and will get you the answer you need”. From expanding this business abroad there are a lot of incurred expenses going into these products and limited funds by philanthropy, corporate donors, and government funds to allocate to materials. It is important to be strategic when collecting and contracting all the right people and resources. So what they do is use materials in that local community instead of transporting things to avoid access expenses other than overhead costs. It is also a benefit to use local resources to build because they usually are more adaptable to that region that making every house by your typical 2X4 piece of ply wood and sheet rock.
Just like Habitat, GLOBE is on this mission to help those in need abroad despite the problems of homelessness here in America. We do help others meaning foreign nations because, “ the poorest of the poor” can be greatly impacted by our contribution.
 
BY: Raven Bolding
Log #7
I am so happy that treat for change was a success! It was so fun to see all to cool yummy treats that people had made for the bake sale. It was especially fun to make my Rice Krispy monsters. It was a struggle to find the ingredients to make them look how I wanted them to and I thought I would run out of candy eyes but I’m glad they still came out super cute! I also loved the rice Krispy ghosts and chocolate covered Oreos that other GLOBE managers made. They were super cute as well. I am so pleased with the class with how much effort everyone put into raising money for GLOBE. The sponsor monsters were awesome and even got change for candy in their classes. There was so much food! All of it looked so delicious. I really wanted to buy all of it for myself. Surprisingly to me, even the chicken, which seemed out of place at a bake sale, sold out. This really was a great way my Halloween day.
Every week I write how excited I am about making loan recommendations and that is because I really am! I am so happy that we got another loan from Vietnam. This loan is for a man with two children, one in high school, and one in college. He runs a knife sharpening business and wants a scooter to help him get back and forth to work. I think this loan is interesting because unlike the other loans we have received, his loan is not for something that directly relates to his business. However, it makes so much sense to ask for a loan for transportation. I take the bus every day to work and when I am at home in Maryland I drive my car. I could not imagine having to walk to work every day or even take public transportation far distances. I am not sure how he currently gets to work but I do hope that we are able to get his loan approved to make his commute a little easier.
I was getting a little discouraged when we did not get any loans in for a few weeks because I felt like my role in GLOBE would not be impactful enough without approving a good amount of loans. But now I am content because I know that we will be able to get at least 10 loans approved this semester. Finally we made it to double digits!
 
Marketing, Communications and Fundraising Team
BY: Nicole Hanakis
Log #7

The past two weeks have been busy yet exhilarating! We finally hosted our first major fundraiser and it was an absolute success. Our Treat for Change event raised over $500 and spread tons of awareness! It is clear everyone worked really hard on this event, and our engagement with the rest of the class felt really heartwarming. So many people brought in such creative and delicious Halloween themed sweets, and were ready to help in any way they could. I was also really happy to see that everyone paid a lot of attention to the presentation and convenience of their sweets.  Nearly everything was wrapped and portable, so it was easy for students to quickly grab, pay, and head on to their next class. The baked goods were also incredibly pretty. We had marshmallow ghosts, chocolate covered pretzels, fruit cheesecake cups, and beautifully decorated Halloween themed Oreo cookies. Here’s a picture we posted on our Instagram page of just a few of our creative treats.
I also included a picture of Rachel and I performing our, “Sponsor Monster Duties.” I spent most of my time during the bake sale soliciting donations from students in DAC and Marillac. I had so much fun coming up with a pitch and seeing people actually respond well to what I was saying! To be quite honest, I spent a lot of time preparing for Treat for Change. I practiced making the chocolate covered pretzels weeks before our event, and testing different chocolates to ensure it would not melt in the bags. I also practiced doing my face makeup several times before the fundraiser, to make it look as realistic and artsy as possible. If I do say so myself, I really think all this prep paid off! Initially I was a bit nervous to be a Sponsor Monster. I did not know how my classmates would react to my face makeup, and if they would actually be interested in giving. Thankfully, I had nothing to worry about! It took some practice during my first few visits to students to perfect my pitch, but once I finally got into the swing of things it sounded something like this: 
“Hi everyone! I’m Nicole from GLOBE and we give microloans to entrepreneurs in developing countries. Right now we’re hosting a Treat for Change Event, and if you give us any amount of your spare change I’ll give you some candy!” 
At this point they would either look for some spare change, or say no they don’t have any. Even if they said no, I would continue one more time and say, “Are you sure? We’re looking for anything! Nickels, dimes, whatever you got!” And finally, nearly everyone that had initially said no, went looking for their spare change. And when I say nearly everyone, I mean only three or four people told me that they really had no change on them. I realized that when I asked one more time, and reiterated that we would take any amount of change, people either understood that tossing us a few cents would not put a dent in their wallet, or gave them the feeling that actually any amount of change would get them candy!
It was an amazing feeling to see people actually donate the entire contents of their coin purse into our GLOBE bags. Some people even donated but refused any offering of candy! I also believe that dressing up and wearing face paint caught a lot of attention. Although I approached a few tables alone, I also approached other tables with Rachel and Courtney who were both wearing their GLOBE shirts, as well as Saavedra and Maya. Dressing up backed the idea that I was a “Sponsor Monster,” and that I was in costume for a good cause. Those wearing GLOBE shirts connected Treat for Change and the donations students made to GLOBE.
This was by far one of my favorite and most unforgettable Halloweens. I had such an amazing time and felt very empowered that I convinced nearly everyone I approached to donate. Not only this, but we spread tons of awareness and donations on campus about GLOBE!

Enterprise Development and Program Impact Audits Team
By: Nicholas Hawkins
Log # 8

There is a million dollar question in the Microfinance world: Will Microcredit end poverty for the rest of the world? The idea that we give out loans to poor person in a poor nation change the world could be everlasting. There are dreams that turn into small business that out their families on the leader to elevate them out of poverty transitioning into middle class. There are multilateral cooperation such as the World Bank and other leading agencies that can changes the lives of many but what can a group of young adults do. Young adults who are passionate about advancing microcredit for the betterment of the global future us the reason why we all should be hopeful. Hopeful that some day there will be zero poverty. Hopeful that some child who never had access to educational supplies final can read. Hopeful that a mother who raises all of her children alone now can ensure all her kids are eating. There is a since of hope every student, every Tuesday, from 7 to 10 uses as fuel to navigate to the end at the road to poverty.
After every class discussion I sometimes write down notes to further expand on a thought in my head I wanted to investigate. The one country that stayed on my mind is India. It’s been a mystery for so many years India’s poverty critics. The rapid expanding microcredit flooded the slow economy causing for millions to believe billion are trap in the poverty cycle. The complex argument is that microfinance loans are overwhelmingly used to finance high-return projects. “If these arguments are correct, the vast majority of microloans must be viewed as serving either the function of an income transfer to temporarily soften the blow of poverty.” (brookings.edu). All in all, I came to realize there would always be questions left unanswered that we will never know the exact answer to.
Furthermore, my team is growing into an actual family. The last few days a team member and I take another class together. We share thoughts and ideas on how we can pass both classes through helping each other achieve nothing less than an A. We were both nervous about the pervious exam on top of the fact we want to be complete our objectives. I sent an inspiration text stating everything will work out if you put it in God’s hands. The send my message and me a response that they were over reacting made their day.  Moments like I am truly grateful being around great people for a semester long.
 
BY: Oluwaseun Odusola
Log #8

This semester flew by! I mean we are going to be practicing for our final presentation in two weeks! We had our final in class presentation, and the Enterprise Development Team dispersed and provided feedback to the final biweekly survey a few days ago. The state at which everything is being completed, and the number of weeks left seem surreal!
But with this comes the constant reminder of things we still have to complete. There are still objectives, events, and other responsibilities at hand. This serves as a constant reminder of the fact that even though tasks are getting completed, we must not lose sight of tasks ahead. Now more than ever, objectives need to be completed at a rapid pace, while being as efficient as possible.
During the week, the team worked on reviewing our midterm and recent biweekly survey feedbacks. It was interesting to see that even though we have come this far in the semester, there is still always room for improvement, and we are still acknowledging our strengths and working on our weaknesses.
In the lecture today, we learned about the risks in microfinance industries. It was astonishing to see that external risks such as natural disasters aren’t the most common risks that affect MFIs. Internal risks pose the most threats. These are risks that can be more easily controlled by the management. But there are lots of weak operation strategies and management qualities in MFIs. So it’s not a surprise that it’s hard to mitigate or even control the results of internal risks. Especially since the tools that are meant to prevent risks pose risks themselves, due to their weak structure.
On another note, I have to mention that this class is one of those very few classes where students can learn and also enjoy the process of doing so. There is a friendly and relaxing environment in class which makes learning more beneficial. I love that information gained in GLOBE can also be used directly in the real world, due to the hands-on-approach of the program. I mean, we did the mannequin Challenge tonight! How many classes can you find where a lecture, Mannequin Challenge, & a class presentation occur consecutively in the same class period? The class environment, lectures, and the people in it will be greatly missed when this is all over! 

Finance, Budgets and Risk Assessment Team
BY: Courtney Clark
Log #8

“What does Habitat for Humanity do?” was the way that Jim Monnier opened up his lecture in last week’s class. As expected, most of us in the class responded: “builds houses.” Throughout Jim’s lecture, he shows that there is so much more that Habitat for Humanity does, including trying to eliminate the systemic causes of poverty. It is evident that much of their mission is in alignment with the mission of GLOBE. When I think about Habitat for Humanity, what comes to mind is the chapters at universities in the United States that work to build houses for those in need. Jim describes the other side of the organization, Habitat International, which helps to serve more than 70 countries around the world, raising funds for countries that don’t have the wealth or capacity to build houses for their communities.
There is an emphasis on housing microfinance, and as Jim said, “The poor need access to capital, not charity.” Habitat focuses on having a community impact, a sector impact, and eventually a societal impact. Community impact seeks to improve housing conditions. Sector impact focuses on proving access to shelters. Societal impact has the overall goal of ending poverty housing and having a systemic change, eliminating structural causes of poverty. They seek not only to build a house and then become disengaged, but to build houses and keep building up communities, with the goal to eventually make sure all people have access to land and housing, as shown through their Solid Ground campaign. Over one billion people do not have access to safe, secure, sustainable shelter. Jim said that the financial market has failed the extreme poor, living on less than one dollar a day. He also discussed some barriers to housing microfinance, which include lack of long term capital, housing product know-how, and lack of secure tenure. This problem of ownership is not what I would have thought of when it comes to barriers to people having access to homes. It is a problem that arises in countries where laws or housing contracts prevent people from actually securing ownership of their homes. Implementing their Secure Ground campaign has put forth initiatives to be informative and to help change policies that take advantage of people or prevent them from truly securing home ownership.
This lecture gave me more of an understanding of how much further Habitat for Humanity goes beyond just “building houses.” They are involved in the communities that the work with and seek to create a positive systemic change in alleviating poverty, just as GLOBE does. For the future, I think there is opportunity for GLOBE to work with the Habitat for Humanity chapter here at St. John’s in fundraising or even working with the communities that GLOBE serves. GLOBE can also research housing microfinance further and seek to provide small loans for home improvements in addition to entrepreneurial loans. There is so much potential for a partnership between the two organizations that are working for closely aligned missions.
 
Marketing, Communications and Fundraising Team
BY:  Nia Hilson
Log # 8

GLOBE is almost over… no….! I had fun this semester, not that it’s over yet but the next few weeks are going to be really tough. There will be a lot to do between the luncheon tomorrow, final presentations, papers, and other classes work. I am confident in our ability to finish the semester strong. It’s so crazy that we’ve already been in the class for like 2 months already. I really hope that there has been a serious impact from this current group of managers on the organization. We as the marketing team have worked really hard to get the word out about the class and to raise money for the borrowers.
I’m really excited for GiveCampus. Even though we haven’t gotten to the point where we wanted to be I’m confident in our ability to move forward and cover the difference. I have to keep reminding myself that no matter what every dollar counts and we need as much money as possible to keep GLOBE going for semesters to come. Thinking on our achievements for this semester in fundraising, with the help of a business 1100C class we’ve made almost $1000 that’s anywhere from 2-10 loans and they could help so many people. And that is why further awareness of GiveCampus is so important. I’m hoping with the luncheon we will raise more awareness for the #GLOBEgives Campaign and can get the word out to more possible advocates.
Also, I really like that GLOBE is going social. I think that everything we’ve been doing on social media really helps to relate us to the students who are coming into the course and hopefully make it more of a desirable class to be in. I mean, I’m fully aware that in all of the past semesters you’ve been able to pull people from left and right to apply for the course, but I feel like the environment on campus is changing. Not because people don’t want to do good and not because people aren’t interested in the course, but because people are more into what kind of opportunities they can get off campus and they forget to look at what’s in front of them. I’m hoping that the new social media activity has created a new presence amongst not only my friends but the university as a whole. I’m really trying not to toot my own horn but it feels like GLOBE has undergone a small rebranding and it wasn’t just marketing. Audit team has done amazing things to update their system as well as finance. I personally know that almost all of the teams have more ideas but we have no more time. Which kind of sucks. But we’ll just have to wait and see what the future will bring.

Enterprise Development and Program Impact Audits Team
BY: Rachel Ergas
Log # 9         
            The holiday of giving thanks is upon us! I have SO much to be thankful for. This week, I want to write about the people I would like to thank in GLOBE; our entrepreneurs, partners, fellow student managers, and the driving force to the work being done, Dr. Linda Sama.
            First, I want to thank our entrepreneurs in the six countries that GLOBE operates in; Nigeria, Kenya, Democratic Republic of Congo, Nicaragua, Vietnam, and the Philippines. I want to thank them for having the strength and courage to take on a micro-loan so that they may have an opportunity to help their families rise out of poverty. I want to thank them for their initiative to help not only themselves, but other entrepreneurs in their community by way of standing up cooperatives – group lending programs.  Cooperatives are groups that were created by some of our borrowers who received micro-loans from GLOBE and used some of that money to lend to other entrepreneurs within their community. This initiative was not the idea of GLOBE, but the idea of the borrowers themselves. To put into perspective, some of our borrowers may live with less than $1 a day. To have the passion to help others even while you already are struggling to make a sensible living is commendable and more of what we need in this world.
            Next, our extraordinary partnership with the Daughters of Charity, Steering Committee, donors, Ladies of Charity, Lina (GLOBE Coordinator), and Mina (Graduate Assistant to Dr. Sama) all deserve many thanks! The Daughters of Charity live among the communities in which GLOBE operates. Without them and their efforts, we could not reach our borrowers. Our steering committee is a special part of GLOBE as they help guide the program as board of directors in loan decision programs. Many of whom are also tremendous contributors to GLOBE fundraising. In saying that, I want to thank ALL our donors who have ever donated and continue to do so today. Without donors, we would not be able to provide loans to our entrepreneurs. The Ladies of Charity also have been and always have been tremendous supporters of GLOBE’s mission. They definitely make and donate the best baked goods for GLOBE bake sales, which help student managers fundraise for the cause. And last but not the least, Lina and Mina absolutely are owed a big Thank You for being the glue between the student managers and Dr. Sama. They are the rock stars to GLOBE.
            Today, it is impossible to think of GLOBE without its student managers. My fellow student managers carry a load of responsibility that is unlike any other student organization or programs at St. John’s University. They are an energetic and self-motivated group of people who not only care to make the program a success, but who most definitely care to make some positive impact in the lives of GLOBE’s borrowers. The ideas they bring and their hard work to put it into action is something I am very thankful for.
            We talk about entrepreneurship in class and what it takes to be an entrepreneur. I truly believe it is an intrinsic characteristic.  You possess this unmatched passion in what you do. It’s what drives you to continue to push forward, never losing sight of why you are doing it in the first place. Dr. Linda Sama best describes that for me, in GLOBE.  I mentioned at the beginning of this log, that she is the driving force behind GLOBE and what it represents. I’d like to give her thanks for never waning on her expectations with all the student managers. She truly holds her students to the highest standards and rightfully so. GLOBE program would not be as successful as it is if there wasn’t the amount of passion she has for the program and its mission; to help eradicate poverty in developing countries by giving small loans to entrepreneurs who wouldn’t otherwise be given that opportunity.
 
Param Yonzon
Log # 9

            This week has definitely been my favorite time in GLOBE so far. Dr. Sama’s lecture this week was on micro-insurance and micro-savings, and as a Risk Management and Insurance major, this was definitely one of the most interesting topics for me to dive into. We discussed the value of insurance, barriers of entry, the problem of non-renewals, and other risk management tools in order to mitigate risks for the borrower.
            This topic interests me so much because most of what I’ve learned in my insurance classes has dealt with usually regular property and casualty, life and health, and excess surplus lines. However, none of them have focused on micro-insurance. To know that my field of study can potentially be the bridge to help arm some of the world’s poorest entrepreneurs makes me really excited about my future in insurance. I’m not sure where I’ll work or what I’ll do, but GLOBE has made me realize that my desire in life to help the less fortunate is very important to me. I’m considering micro-insurance being a possibility for my career path.
            As per our team and the work we did this week, I got to focus on rebuilding the information pamphlets we distribute to borrowers in the different countries. The three key takeaways I got from that was that we needed to create something simply, clear, and looks visually appealing to read. I know we won’t be able to teach them financial literacy within just one pamphlet, but we hope that they at least think of the positive outcomes from the advice we give them. While my team and I worked on the pamphlet, an idea arose in my mind that I believe the next GLOBE class can act on.
            Something that GLOBE is missing is an actually business plan. I think a business plan would come in handy because GLOBE could be an actual company. We already act as if we are one. But one of the main reasons I believe we should write a business plan is because we could potentially expand on our donators. Perhaps we can look for social impact investors that would contribute to our funds. The main purpose of this funding would be to give a mobile phone, laptop, and/or Wi-Fi to either the Daughter in the field or to the actual entrepreneur. This technology can help the entrepreneur in many ways and it could potentially help us with our communication with them. However, this is just a vision and we know we need to act on it.
            As the semester is coming to an end, our team is already talking about how we will pass the torch to the next GLOBE class. We are coming up with new visions and ideas that future managers can work on. We want to plant the right seeds so we know the future managers can act on the vision we create today. I wish we could all stay another semester in the program to help implement and put some of the ideas we have into action, but we believe that we can only help by building the foundation by writing out clear objectives, our purpose, and values we wish to continue with the next GLOBE class. I’m excited and eager already to see how the next GLOBE managers decide to push the limits of GLOBE.
 
Finance, Budgets and Risk Assessment Team
Alexander Marino
Log # 9

            After reviewing the PowerPoint slides for the micro-savings and micro-insurance lecture, I found the concept of micro-insurance to be interesting on a number of levels. First, the insurance is tailored to low value items, this is quite different than what people use insurance for most times in developed countries. Typically we see insurance in developed countries focuses on high-value assets, such as a car, a house, or possibly even life itself. I believe this is because these are the items that if we had damaged beyond repair, these are the things that would have the greatest impact on our lives and financial well-being. With this in mind, even if an asset is of “low value” by our standards, does not mean it is of low value to the person who owns it in a developing country. For example, a sewing machine would not be an item which sometime would typically take out an insurance policy to protect in the world that we live in. However for a seamstress who uses a sewing machine to provide income for her family, we begin to see why micro-insurance is a necessary and demanded financial service; because it is able to provide some form of a safety net for people who otherwise have none.
            One of the questions I have regarding micro-insurance is how do micro-insurers determine what is and what is not an insurable risk. Based off of the various risk management and insurance course that I have taken, I know that there are certain, modern world risks that cannot be insured against, such as terrorism for an example, war, and other catastrophic risks that have the potential for widespread damage; is the same true for micro-insurance companies? Another question that I had was regarding the measurement of the loss, a crucial part of the kind of insurance we deal with in our developed society. Who determines, and what is the process for determining the amount of loss in a micro-insurance claim?
            The concept of this type of insurance is an area that I could see GLOBE moving into simply because it is not that different from what we are already doing. The writing of the policy would be similar to the writing of a loan recommendation, and the premiums would be similar to the repayments on the loans that we collect. The fact that insurance, by nature, is also a group oriented practice, meaning that the premiums paid by an individual are used to insure actual losses that happen to others in the group, I feel like the fact that fact that we are so heavily involved in working with communities, not just individuals, would help us to succeed if this was a route that GLOBE chose to explore in the future. It could also benefit the current program itself, take the seamstress example from before, if she loses her sewing machine, or has it damaged, it is likely that she may face difficulty repaying the loan, which hurts us in turn. If she had micro-insurance on the machine however, she would most likely be able to continue with minimal impact on her ability to pay the loan and to GLOBE as a program. Creating a micro-insurance program may help students become better-rounded in the field of micro-finance by giving them a second sector in which they are working with and learning about on a week to week basis.
 
Marketing, Communications and Fundraising Team
Corina Harley
Log # 9
            This past week in GLOBE we had our appreciation luncheon and it turned out to be a success. We had a bit of a rough start, and some complications but overall it was a huge success. The Wall of GLOBE stars came out amazing. It was better than I imagined and guests seemed to enjoy it. It was different than things students had done in the past so it added a new element to the luncheon. My cupcakes were also a huge hit. For future reference I would probably use the GLOBE logo in as the decoration with them but having the Globe with hands worked well. Once the balloons arrived the centerpieces looked great with the flags from the countries our borrowers are in and the balloons with Globes on them. The trivia game was a success and I was shocked at the knowledge that our donors have for the program. It is good to see that they take as much interest in the program as the students do. WE WENT LIVE! Going live on Facebook was a huge accomplishment for our team. We weren’t sure how the community of followers was going to react but they loved being able to be apart of the event. Even my mom told me that she got the notification saying that GLOBE was live and tuned in at work to see the luncheon in action. It was very cool to see that people all over the country could watch the video and be apart of the luncheon even if they were unable to attend. I do have to say that the IT and Marketing team is doing an incredible job. Even managers from past years have been saying what we have accomplished with social media in such a short period time is admirable. I’m incredibly proud of us and hope that we keep up this momentum for the rest of the semester, as well as the new class next semester. I think many of us would be willing to meet with them in order to ensure that they are ready to keep the engagement up.
            I completed the Raffle flyer and it came out looking great! The prizes that the teams pulled together are going to generate a lot of sales. We are nearing our fundraising goal outside of the GIVE Campus campaign with every passing day! The managers are really coming through with the wristband sales and the money keeps coming in every day. The raffle tickets were passed out today and I’m confident that they should be able to sell them to students in classes. If we keep up this momentum there is no reason why we shouldn’t meet our goal.
            Today we launched our first plea for Givecampus. It was a spoof on the Charlie Brown thanksgiving. I think it’s going to be a hit. It is the perfect amount of corny and cute to get people engaged. I think it’s important for everyone to get donations over thanksgiving break and if they do, we should easily meet our goal.
            As the semester nears its end its clear that we still have much more work to do. We still have the final presentations and the Finals De-stress event to raise money and awareness. Which I think we are all looking forward to! 

Enterprise Development and Program Impact Audits Team
By: Nicholas Hawkins
Log # 10

It is truly a bittersweet moment knowing this my last log for the semester. I never realize until now the amount of work my classmates have put in to change GLOBE forever. Each team has put forth game changes initiatives. The Finance team is transitioning the way we allow future borrowers to apply for access to microloans. The Marketing and I.T. team is using various social media platforms to increase our class brand awareness. Lastly, the Enterprise and Development team incorporated different programs to one encourage the class to handle their objectives with efficiency, and last to create a better relationship with our borrowers. After recently having a talk with my team, I came to the conclusion this semester in GLOBE changes the course forever!
Since the first day I knew I got accepted into this course, I brainstormed in my mind what countries GLOBE should someday help fight against poverty. When doing recent research to continue to be knowledgable about the world around me, my eyes came across some game changing facts that will affect the livelihood of all Millennials’ future. In Bolivia, income doubled for microcredit loan clients in two years, with an increase in accessing health care service and sending their children to school. Approximately half of the underprivileged families experiencing microloans rose above the poverty line. In addition, there are about 15 million citizens in Brazil engaging in micro-entrepreneurs run about 93 percent profitable businesses. All that being said, it takes young adults like the managers in GLOBE to become the innovators of today. Collaborating effort can truly change the dynamics in poverty. Networking with other Millennials through various platforms such as social media creates a unified global community to end the cycle of poverty. It starts today, it starts now! We have to fight for a better tomorrow together. There is a quote I found from Mark Malloch Brown from the United Nations Development Programmer, which defines how the future is so bright when we all go together, “Microfinance is much more than simply an income generation tool. By directly empowering poor people, particularly women, it has become one of the key “
I am truly honored to take part in something bigger than myself. When I first arrived on St. John's University campus, I dreamed to one day enrolled in a course where I can make an immediate impact on social change. Changes not only in developing communities but the changes in myself. Where I decide to invest my money more into social justice than into my own personal desires. The biggest lessons I can take away from the last 16 weeks or so is to self reflect everyday. Ask yourself questions to see if you are truly living to improve the world around you. I know after this is all said and done I will continue to spiritually fulfill each and every object to ensure before I leave this earth there is a cycle of wealth riding into the road of togetherness. I can say looking back on this moment GLOBE changed my life.
 
Finance, Budgets and Risk Assessment Team
BY: Courtney Clark
Log # 10

In reaching the end of the semester for GLOBE, I could never have guessed where these past three months would take me. It has taken me to meet several of our supporters, donors, members of the Steering Committee, and even potential future GLOBE managers. Through events such the Appreciation Luncheon, Ladies of Charity National Assembly, Steering Committee Meetings, and Information Sessions for the Spring 2017 class, I have been able to see how far the program extends throughout St. John’s. As I have mentioned in previous logs, it really shows the support and enthusiasm for the program and shows that it is not just a class of twenty-one students; instead, it’s an entire network within a community. In addition, I feel like I have gotten to know our borrowers, especially from this semester. Making a difference in the lives of our borrowers is the goal of this program, and getting to know each of their individual situations, businesses, and how hard they work to provide a good life for their families makes me that much more passionate about continuing to work hard in my role in GLOBE.
            Another important aspect of the semester for me was getting to share what we do with my family. Talking with my parents about the program, they are very intrigued and eager to support it. I even got to have a conversation with one of my uncles over the Thanksgiving break about the idea of microfinance and how much potential it has. Seeing how much my family was willing to read through the website and listen to what I was learning goes to show that the more GLOBE gets its name out there, there are people that will support the program for what it does and is working to do. There is so much potential for how much of an impact GLOBE can have, and it starts with continuing to share its mission with people we know because there are people, who may or may not have heard of a microfinance program before, that will listen and can be a connection to build upon in furthering the program.
            From the beginning of the semester until now I have learned so much about how far microfinance can go in the world, and especially in the developing world. Microloans, micro-savings, and micro-insurance are all ways to bring what formal financial institutions to informal sectors of the developing world offer. It has also given me a different perspective on the role of finance in the world, especially as a Finance major. Typically one would think of finance as being involved with large corporations or investment banking, but there are so many other areas of the field, and there are opportunities for finance in the context of a social business to bring about social justice. Finance is found almost anywhere and there is potential for it to be used to bring about positive systemic change and alleviate poverty, just as GLOBE is working to achieve. Microfinance is not yet a perfect system or “one size fits all” solution to the problem of poverty, and it still only reaches a very small percent of those who actually need it, but that is why programs like GLOBE exist: to work toward developing the best possible system, with our borrowers at the focus, to help those in need and strive to give those in poverty the same opportunities that we have in life.
 
Jessica Flynn
Log #10

            Wow, last log of the semester! Our Finance Team has been working hard to finalize the six loan recommendations that we received: five from Nicaragua and one from Vietnam. Members of our team will present these loans to the GLOBE steering committee on November 30th, and we are hoping to have these six loans approved for our borrowers. The applicants were very interesting and requested loans for all different businesses, including cabinetmaking workshops, the re-startup of a Nacatamales food business, and the expansions of a knife grinding business, homecare business, thrift store, and housewares business. All five of our applicants from Nicaragua are repeat borrowers and have successfully repaid their first loans to GLOBE. The interest rate for these borrowers will be lowered from 5 percent to 3 percent for their second loan. Our class always looks forward to providing new loans for our GLOBE community of borrowers, and we pray that these loans will serve as a positive source of motivation as well as means to support their entrepreneurial endeavors.
            The topic that struck me most from this week was the Blue Sweater Story by Jacqueline Novogratz, CEO and founder of Acumen. To summarize, Jacqueline had a favorite blue sweater with zebras and mountains on it that she would wear almost every day as a child, until she decided one day that it was time to donate it. Years later, Jacqueline left her job in NYC and traveled to Rwanda to work with a small group of women to start a microfinance bank. While working there, she came across a little boy wearing her favorite blue sweater! This moment made Jacqueline realize how interconnected our world is. She may have outgrown that blue sweater, but it was as good as new to that little boy in Rwanda.
            This story really made me think of how we can impact so many people whom we may or may never meet. My family and I donate clothing to the poor every couple of months, and the Blue Sweater Story made me think of how many little children are grateful to have my clothes. Maybe there is a little boy or girl wearing my favorite purple coat or Lion King shirt on the other side of the world right now. It really made me think of how simple donations and acts of kindness can spread to positively affect so many people, like a drop in the ocean.
            I cannot believe how quickly this semester has passed! I am really proud of our class for all the hard work and hours of fundraising that we have invested into this incredible program. I am looking forward to discussing all our efforts with our GLOBE community at St. John’s during our Final Presentations next week. We will hopefully have a total of eight new loans distributed to our borrowers by then, and I am very grateful to have had the opportunity to take part in GLOBE this semester.
 
Marketing, Communications and Fundraising Team
Evan Dittig
Log #10

            The Final Presentations are approaching fast and today during our class time we rehearsed our final presentations to make sure our class is all on the same page and that everyone knows what they are talking about and their delivery is on point! Dr Sama scrutinized almost every team member after their slides, I see it as tough love, I am happy that she was tough on us during our rehearsals so we can perfect our presentations and make sure our delivery is bulletproof when it matters most!
            I caught a little bit of heat after my presentation but I felt it necessary because her advice highlighted what points I need to polish up and what excess aspects of the presentation need to be omitted. I have to admit I haven’t looked at the presentation as much as I should have due to my extended Thanksgiving vacation and 9+ hours of traveling before class.  With that being said I am confident that with a little practices and the implementation of Dr Sama’s advice, our final presentation delivery will be the bee’s knees. 
            This semester was truly amazing! I honestly can’t even believe that it went by soo fast! It seems like yesterday we were writing our objectives and trying to figure out content to post on our social media. Flash forward 10 weeks and we are 95% complete of our semester monetary objective, I truly believe that with everyone’s support and motivation we will supersede our semester goal of $5,500.  Only 8 days remain of our GIVECampus campaign, its crunch time, lets give it all we got and raise the final amount!