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Full Credit Toolkit
New entrepreneurs need three things: money, support and training. Full Credit is a tried, tested, peer lending programme that delivers all three. And, its clients' business survival rate is a full 10 percent over the average.
Full Credit provides these tools to partners:
- "Is Enterprise for Me?" A practical and rigorous course that helps clients determine the marketability of their businesses. This eighteen-hour course comes with training manuals, documentation and handouts with full permission to reproduce.
- Access to the Full Credit loan fund, including back-office loan administration.
- Consultation with the Full Credit team on recruitment, set-up, marketing and public relations.
- Peer-lending group-formation training pack.
- Ongoing phone and email support.
Partners offer these tools to their clients:
- 18 hours of pre-enterprise training including networking skills, goal setting and market research presented as "Is Enterprise for Me?".
- Low-interest loans -- secured by social capital -- without collateral or credit checks.
- Networking opportunities, including the chance to join peer-lending circles and cut down on isolation.
- Long-term guidance and support.
Some partners go further. They choose these optional tools:
Skills for Business
A more advanced training package which includes budgeting, cash flow, tax issues, sales and marketing. It has a special focus on micro-enterprise. Training manuals for 40 hours of training include handouts and resources for further information.
Social Impact Evaluation Tool
The SIE is a longitudinal study performed by an independent research firm that measures social impact outcomes. For instance, in its Full Credit model, WEETU found that clients' confidence in dealing with banks soared on completion of training. Clients who felt "confident about dealing with banks or financial institutions" went from 54% to 100%.
Its 2005 report states:
"Clients experienced the greatest increase in confidence for dealing with banks and other financial institutions. That is, Full Circle is helping the financial sector by enabling better and more communication between the sector and existing or potential new clients."
The focus of SIE research can be customised. Its findings can then be used to evaluate and fine-tune a programme. Or, they can be presented to funders, policymakers and partners.
It is a tool that proves results.
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