- The MicroDreams Foundation
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The MicroDreams Foundation 
MicroDreams logo
Type Non-Governmental Organization (NGO) Industry Microfinance Founded 2002 Headquarters Newark, New Jersey Key people Gregory F. Casagrande, founder Website http://www.microdreams.org/index.html The MicroDreams Foundation is a US501-c3 non-profit organization founded by Gregory Casagrande in 2002 to help small, growing micro-enterprise development organizations reach financial self-sufficiency. Over the past 9 years, MicroDreams has significantly helped develop the SPBD Microfinance Network in the South Pacific (Samoa, Tonga and Fiji) and has helped to scale young emerging partner Microfinance institutions (MFI) in Bolivia, Ecuador and Peru.[1] MicroDreams uses loans, loan guarantees and technical assistance to help provide meaningful economic opportunity to the poorest members of society.[2]
Contents
Mission & Vision
MicroDreams’ primary goal is providing the world’s poor with economic opportunity to help them permanently escape poverty. The company provides financing to start up and tier 3 microfinance institutions that otherwise would not be able to receive funding. Most large microfinance investment vehicles and asset management firms avoid providing funding to these microfinance instutions as they are too small and too young to be a "safe" investment. MicroDreams fills this gap in the market.
History
The MicroDreams Foundation, originally branded as South Pacific Business Development-USA, was founded in 2002 by Gregory F. Casagrande as a US 501-c3 non-profit organization. MicroDreams was created to help fund the start-up and the growth of South Pacific Business Development Foundation (Samoa).[3] MicroDreams was able to expand its horizons once SPBD (Samoa) became financially sustainable with the help of several commercial entities to payback start-up funding. Since its founding MicroDreams has delivered approximately US$2,000,000 of financing to young, well managed MEDO's (MicroEnterprise Development Organizations) in Bolivia, Ecuador, Peru, Tonga, and Fiji. MicroDreams continues to take on new partners around the world to seed the next generation of MEDO's to benefit the world’s poor.
Microenterprise Development
MicroDreams ensures that MFI partners provide loans for underpriveleged people to start their own businesses and also provide the proper training and mentoring to guide these "micro-entrepreneurs" towards business success. The MFIs encourage their members to invest the proceeds of their loans for basic housing improvement and childhood education. They help to ensure the children of all members receive a proper education by providing financing to pay for school fees, school uniforms, and textbooks. The microenterprise development organizations also offer savings accounts and life insurance to its members.
Tsunami
In 2009, the country of Samoa was hit by a tsunami. MicroDreams provided direct aid and operational leadership to hundreds of families devastated by the tsunami in co-operation with Mercy Corps and the United Nations Development Program. (UNDP) MicroDreams' work was highlighted in the Samoa Observer, the islands premier newspaper. [1] [2]
Funding Partners
MicroDreams works closely with CreSud Spa and Oikocredit to provide loans and loan guarantees to its field partners in Latin America. In addition, the Mulago Foundation provides MicroDreams with funding to provide this type of financing.
Publicity
The MicroDreams Foundation's work has been spotlighted on television in Fiji and Samoa through its partner South Pacific Business Development (SPBD). [3] [4] Its work has recently been published on MilkShake. [5]
Statistics
So far MicroDreams has: a) Provided over US$180,000 of grants b) Distributed over US$520,000 of loans c) Made over US$685,000 of loan guarantees d) Thereby mobilizing over US1,350,000 of loans to its MEDO partners
References
- ^ http://www.mercycorps.org/gregcasagrande/blog/16575
- ^ http://www.samoaobserver.ws/index.php?view=article&id=15192%3Apay-for-recovery&option=com_content&Itemid=53
- ^ http://www.youtube.com/user/MicroDreamsDotOrg?feature=mhum#p/u/1/Fpl56Siqd0Y
- ^ http://www.youtube.com/user/MicroDreamsDotOrg?feature=mhum#p/u/3/TJQit-4l9Y0
- ^ http://www.getmilkshake.com/dream_maker_changemaker
- ^ http://www.microdreams.org/blog/
- ^ http://www.givewell.org/international/charities/MicroDreams
- ^ http://www.facebook.com/login/setashome.php?ref=home#!/pages/MicroDreams-Foundation/118783391495174
External links
Categories:- Non-profit organizations based in New Jersey
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