Kuleana minutes— April 4, 2011

Kuleana Project MEETING SUMMARY Micro-Lending/Support Team
Date Time Location
Monday April 4, 2011 4:50pm – 5:55pm Catholic Charities, 1822 Keeamoku St.
Leads Attendees
▪ Fran Gendrano (Absent)
▪ John Cheever ▪ Rona Fukumoto
▪ Jessica Horiuchi (Absent)
▪ Kevin Kawahara ▪ Michael Morales
▪ Ben Ancheta
▪ Lorene Yap ▪ Yvette Maskrey (Absent)
▪ Kim Horan
▪ Char Dote (Absent)
TODAY’S AGENDA

1. Meeting was called to order at 4:50pm
2. Kuleana Options Discussion:
a. OHA Meeting with Quinton Flores (John C. and Kim H.)
i. $28M funds for their Malama loans.
1. Emergency loans up to $7500 and Malama loans are up to $75K.
ii. Tier 1 and 2 are high FICA scores at least 650 credit scores and probably why they have not been able to get many loans approved.
iii. Could we tie into OHA and get the borrower’s credit worthy for Malama loans.
iv. Kim H. described the Malama process and that it is still a traditional loan process. The Kuleana model is a bit different since it is promoting mentorship and guidance.
v. CFO of OHA is a major proponent of microlending. Kim H. advised that we should put something together and send to the CFO of OHA and schedule meeting. (John C.)
vi. OHA needs a vehicle to get the money disbursed.
vii. Explore issues and risks that OHA is having with obtaining qualified borrowers and understand how the Kuleana model can be aligned. (John C.)
b. Hawaii Angels
i. Do we want to review and look at a potential partnership with Hawaii Angels?
ii. Invite Chenoa Farnsworth to our next meeting. (John C.)
c. Bancoh Loans
i. Danny Kim has offered a person to service loans.
ii. Do we want to follow up with Danny Kim?
iii. Noted that we need to document the process further.
d. Funding/Client Discussion
i. We should wait to begin fund raising until after we obtain our 501c3 approval.
ii. Have the potential client come and meet with us to explain what the barriers to entry have been and what Kuleana should focus on. Client to come in on April 19th.
iii. Noted to obtain more stories.
iv. Kim H. asked on whether or not we have formalized documentation of our partnerships. Kevin K. noted that we expected our noted officials would be doing the work and we formalized a banking partnership for the loan process piece.
e. Aloha United Way
i. Need to have a 501c3 to apply for funds.
ii. We could apply through the breakthrough category, which is related to financial stability. Should find out if PID is applying in the breakthrough category and if not then it may not be a conflict of interests. Follow with PID. (John C. and Jessica H.)
1. Meeting is scheduled for April 26 from 9:30 to 11:30am with Norm Baker. (John C. and Kim H.)
2. Fill out application form. (John C. and Lorene Y.)
3. By-laws Review
a. None.

4. 501(c)3 Application Review
a. IRS has received application and we will be receiving a letter as to the determination of our application.
b. John C. noted that we could set up 5 (1) hour training classes as opposed to a 4 month KCC entrepreneurship class.



5. Other Kuleana Business
a. Other promotional business
b. Kuleana Networking/Outreach Listing
i. Goodwill
ii. Aloha United Way
iii. UH
iv. PCF Alumni
v. Young Presidents
vi. Gift Foundation
vii. Iolani Entrepreneur’s Club

c. Beta Applicant Form Review
i. No updates at this time.

6. New Kuleana Business
a. Need to sure up process for providing loans and then maintain and support the loans.
b. Ask Danny for best practice information on loans and servicing loans. (Ben A.)
c. Mike M. noted that David T. from Hawaii Business Magazine is interested in writing a story about Kuleana when we are ready.
d. John C. is scheduled to speak at the Exchange club in July.
e. Ben A. noted Tom may be a person we should engage to help with branding and logo work.
f. Kim H. noted that we may want to speak to Pia Chock from SBDC. Schedule meeting with Pia and John. (Kim H.)

7. Meeting adjourned at 5:55pm

UPCOMING MEETINGS/KEY EVENTS
• Next meeting is scheduled for Tuesday, April 19th, 4:30pm at Catholic Charities, 1822 Keeamoku Street, Room TBD.