Kuleana minutes— March 21, 2011

Kuleana Project MEETING SUMMARY Micro-Lending/Support Team
Date Time Location
Monday March 21, 2011 4:45pm – 5:30pm Catholic Charities, 1822 Keeamoku St.
Leads Attendees
▪ Fran Gendrano (Absent)
▪ John Cheever ▪ Rona Fukumoto
▪ Jessica Horiuchi (Absent)
▪ Kevin Kawahara (Absent)
▪ Michael Morales
▪ Ben Ancheta (Absent)
▪ Lorene Yap ▪ Yvette Maskrey (Absent)
▪ Kim Horan (Absent)
▪ Char Dote (Absent)
TODAY’S AGENDA

1. Meeting was called to order at 4:45pm
2. Kuleana Discussion.
a. Meryll Lynch and Small Business Development Center
i. Kim H. and John C. had a meeting with Glen Fukushima from Meryll Lynch and Pia from Small Business Development Center. They provide business mentoring resource. We would refer people to them since they are federally funded.
ii. Glen advised that he will want to contribute and Meryl Lynch will match once we become a 501(c)3.
iii. Glen advised that we should go to every bank and solicit them and they will also be on the funding committee.
iv. Go to the chamber of commerce and work
v. Have quick books set up on our website loans information. Timeline to set up. (Kevin K.)
vi. John C. noted that when your 501(c)3 application is pending we could solicit funds, however if we do not get the status then the funds would not be tax deductible.

b. Hawaii Angels
i. Kim Farnsworth noted there is an investor on the Big Island looking to do a community bank project. We could potentially piggy back on this for the micro-loan portion.
ii. Kim also noted that we would need a loan officer. Solicit Danny K. during Bancoh luncheon this week. (John C.)
iii. Economic Development, Enterprise Hono Shin and Economic Development Agency are other groups that worked on micro-loans.
c. John noted that we should continue to form partnerships with other folks who are looking at potentially getting into this type of loan process.
d. Could potentially reach out to Goodwill as a fiscal sponsor. (Rona F.)
e. A conference call has been scheduled on Wednesday at 2pm to review with Kina from IIF and review our application.
f. Rona F. brought up a proposal that would provide a loan to a group that helps provide work training for developmentally challenged folks.

3. By-laws Review
a. None.

4. 501(c)3 Application Review
a. John C. provided amendments to the articles of organization to DCCA per lawyers; however it was noted by DCCA that it is not needed.
b. Application to take at least 2 months for approval. We are targeting end of May to receive approval.
c. If we do not receive approval by the end of May, then we could potentially reach out to Senator Akaka’s office to help push approval. (John C.)

5. Island Innovation Fund Update
a. Application submitted.
b. No other updates.

6. Other Kuleana Business
a. Kuleana Networking/Outreach Listing
i. Goodwill (noted in today’s meeting)
ii. Aloha United Way
iii. UH
iv. PCF Alumni
v. Young Presidents
vi. Gift Foundation
vii. Iolani Entrepreneur’s Club


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

7. New Kuleana Business
a. Kim H. and John C. are meeting with Norm from Aloha United Way April 1st.
b. Noted that AUW could potentially be unrestricted funds since they are for the funding insurance.

8. Meeting adjourned at 5:30pm

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