Local Lenders is a non-profit microfinance organization that was founded in the spring of 2009 and is completely staffed by students from Kenyon College and Mount Vernon Nazarene University (MVNU). The organization was founded for the purpose of supporting Knox County's sustainable agriculture through providing credit to agricultural entrepreneurs who are unable to obtain loans from traditional banks to maintain or start their businesses. As a startup organization, our biggest challenge has been raising capital for our project. Therefore, we hope this online fundraising project will help provide us with financial support which will allow us to overcome our biggest obstacle and achieve our goals.
Any donation to our organization will be an investment to many residents in Knox County. As Lawrence Lovasik stated, "A single act of kindness throws out roots in all directions, and the roots spring up and make new trees." Farmers will be able to invest some of the loans from Local Lenders to develop hoop houses, local storage, and distribution facilities. This will help create jobs and develop a quality brand for Knox County food and farm products which will in turn generate a ripple of economic expansion in the county.
Local Lenders' goals and objectives include:
"¢ Providing capital in the form of small and affordable loans to low and moderate income agricultural entrepreneurs. These loans will range from $500 to $5000 and will be paid back with a fixed interest rate of 8%.
"¢ Promoting a local food system which will provide Knox County's residents with fresh and healthy food, a secure income, and reduce residents' ecological footprint.
"¢ Working with the Small Business Development Center of Ohio and CES Credit Union to provide free business counseling, business workshops and training programs to borrowers. This will increase our borrowers' knowledge of managing a business as well as the likelihood of success.
"¢ Creating access to traditional credit for entrepreneurs participating in our program through improved credit scores upon exit.
"¢ Strengthening the relationships between local academic institutions and Knox County residents.
"¢ Boosting the overall economy by empowering the residents of Knox County to create new opportunities to succeed.
If you want more information about Local Lenders, please visit our website: Local Lenders of Knox County.
DonationsSee top donations
- Judy&Steve CHANGMARK
- Tony Scopellito
- Irene Britt
#1 fundraising platform
More people start fundraisers on GoFundMe than on any other platform. Learn more
Expert advice, 24/7
Contact us with your questions and we’ll answer, day or night. Learn more