financial services

R.I. finance social entrepreneur on CNN

BIG SPLASH IN BIG APPLE: Capital Good Fund Co-founder and Executive Director Andy Posner talked about microfinance on a CNN program last week.
Posted 12/27/11

PROVIDENCE – Capital Good Fund Co-founder and Executive Director Andy Posner made an appearance on CNN last week to talk about Campus Microfinance Alliance, a national nonprofit that connects student-run microfinance entities.

Posner, one of the founders of CMA, which the Capital Good Fund is a member of, appeared with CMA Co-founder Rohan Mathew, executive director of The Intersect Fund, located at Rutgers University in New Jersey, and Sinye Tang, a staff member at the CMA.

The discussion, which can be seen here, discussed the small amounts of capital that many entrepreneurs need to establish or operate their businesses, as well as the fact that a default rate or 7 percent for microloans is significantly lower than the roughly 20 percent rate seen for traditional banking.

The Capital Good Fund was founded in 2009 by Posner and Mollie West and provides loans of less than $5,000, as well as financial coaching, to its clients. It has five full-time employees. It was a graduate of the first class of social entrepreneurs produced by Social Venture Partners Rhode Island. Posner was also a member of the 2010 class of Providence Business News’ 40 Under Forty

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