Pub. 8 2013-2014 Issue 6

March | April 2014 31 Extraordinary Service for Extraordinary Members. W ith the help of the Lincoln Community Foundation and Community Develop- ment Resources, Alice’s Integrity Loan Fund was launched in 2011 with a pledge of $1 million over a three-year period. The fund estab- lished a micro-lending program that provides capital to individuals who are committed to becoming self-sustaining entrepreneurs. Loans of up to $5,000 may be used for startup ventures or to fund growth opportunities for existing businesses. The criteria for loans are as follows: The purpose must be to start or expand a small business that will produce in- come within a three-year period to re- pay the loan. A written outline, or plan, of how that is to be accomplished must be submitted. No collateral is taken and the interest rate is National Prime, currently 3.25 percent. INTEGRITY is the key word. Applicants are evaluated on their character (40 percent), capital (10 percent), capacity (30 percent), and commitment (20 percent). A bank- ruptcy within the last seven years is not a deterrent to approval IF the reason for the bankruptcy no longer exists. This is a “take-a-chance” loan to someone in your community whowants a job or supplementary income to im- prove their lives. We have made loans to candle makers, counselors, insur- ance and real estate agents, Mary Kay representatives, bookkeeping service providers, foreign language educators, promotional item salespersons, mas- sage therapists, beauty salon operators, and more. We currently have 27 loans on the books, three that are more than 30-days past due, and two that we most likely will not collect. We have had one business sell at a profit, and two that decided to emphasize the most profit- able part of their businesses and pay off their loans from income or sales of equipment. By saying “no” on a loan, I’m sure we saved one woman from investing in a scam.  Integrity Loans — continued on page 32