Services We Provide
We are a non-profit program providing small business loans, business training and support and savings services to low-income aspiring business owners in Greater Des Moines, Iowa.
LOAN & Financial Services
Small business loans to peer-lending groups
Members participate in groups, but receive individual loans
Savings account at a local bank, with no monthly service fee
Business Support & Training
Leadership and empowerment training
Weekly support and meetings with a Solidarity mentor
Connections to trusted community resources
Under the Grameen peer-lending model, borrowers form groups of 5 trusted individuals in their community. Each borrower receives their own loan to start their own business. Groups meet weekly to make a small repayment on their loans, contribute a small amount to their savings account, and support each others' businesses. Our loans are 6-month loans with the opportunity for borrowers to apply for higher loan amounts after continuous and successful participation in the program.
Solidarity Microfinance is a program of
Iowa Community Capital, a 501(c)(3) non-profit organization. Our program’s mission is to empower women and communities to create economic opportunities through small business loans, support and savings services.
Loans: small, collateral-free loans with 6 months repayment period
Savings: ICC offers each member no fee Savings services through a local bank sponsor. Members must establish a Savings account for emergencies and deposit additional funds every six months.
Training: ICC provides trainings to help our members understand financial basics and develop leadership skills.
Support: A program staff member meets bi weekly with groups of borrowers to provide support and guidance.
• Low-income families
• Minimum 2 years residence in Iowa
• Must be 18 years or older
• SSN or ITIN required for credit reporting
• No credit history required
• Government issued ID
Microfinance Success Worldwide
• Traditional financial institutions often don’t offer this small of loan and require collateral, credit history, and business plans
• Unavailable small loan in the community is an important barrier to success for many low-income families.
• This group lending approach has been successful with 99% repayment rates worldwide
• Served 272 low-income entrepreneurs
• Approved and distributed 918 loans
• Loaned a total of $1,724,249 into the community
• Increased average client’s business income $6,777
• 99.72% repayment rate since January 2015
Solidarity Program Goals
• Empower individuals to follow their dreams of building a small business
• Serve 300+ individuals in Greater Des Moines
• 100% loan repayment rate
• Help borrowers increase:
- Increase income
- Increase Savings
- Increase credit scores
- Increase financial Literacy knowledge