Kuleana minutes— Nov. 16, 2010

Kuleana Project MEETING SUMMARY Micro-Lending/Support Team
Date Time Location
Tuesday, November 16, 2010 4:00pm – 5:30pm Catholic Charities, 1822 Keeamoku St.
Leads Attendees
▪ Fran Gendrano
▪ John Cheever ▪ Rona Fukumoto
▪ Jessica Horiuchi
▪ Kevin Kawahara ▪ Michael Morales
▪ Ben Ancheta
▪ Lorene Yap
TODAY’S AGENDA

1) Key Decisions/Updates
1. Jessica and Cheever provided a summary of the recent meeting with Partners in Development.
2. Jessica noted it will take 6 to 9 months to obtain 501c3 status.
3. Kuleana Concept
o Fran presented the Kuleana Concept. See the attached PDF.
o Noted that in order to be a 501c3, donors will not be able to cash out.
o Ben noted that we should charge interest to provide a clear real life understanding of the valuation of repayment.
o Kevin noted that we should review the loan template next meeting.
o Rona stated that we could approach Catholic Charities as a potential fiscal sponsor.
4. SWOT analysis – PID
o Strengths
• Existing infrastructure
• Fiscal means for pilot program
• Operational Infrastructure
• Credibility & Legitimacy
• Access to potential borrower
• Scalability
• Wealth of knowledge to manage and grow
• Network
o Weakness
• Potential culture conflicts
• Less opportunity for individual
• Brand tied to PID
o Opportunities
• Allowed to focus on mission of lending
• Fill gaps in PID organization
• Connect PID w/ other organizations?
• PID - risk taker
• Large Federal Grants
o Threats
• Live in PID culture
• No individual identity
• PID has a polarizing effect
• May not be amenable to future spin-out of Kuleana
• Potential Limits on client selection
• Internal competition for grants


5. SWOT analysis – Kuleana
o Strengths
• Control & Autonomy
• Personal connections
• Potential funding sources
o Weakness
• Need to build infrastructure
• 18 - 24 Month timeframe
• Less likely to get funding
o Opportunities
• Personal & professional growth
o Threats
• Higher risk of failure
• SWOT conclusion
a) The team agreed that Kuleana is the favorable approach, however if PID may be a viable alternative if it can provide support and allow this team to have the necessary latitude to make its own choices.
2) Action Items
1. Plan A - Follow up conversation with PID and communicate our position. Report back to the team. (J. Horiuchi, J. Cheever)
2. Plan B - pursue Catholic Charities as a fiscal sponsor. (R. Fukumoto)
3. Plan C - pursue Pacific Gateway as a fiscal sponsor. (F. Gendrano)
4. Update Business case proposal and incorporate concept. (J. Cheever)
5. Find other fiscal sponsors. (Team)
6. Provide loan application template for review next meeting. (F. Gendrano)
7. Distribute to the team a preliminary project schedule/task list after Plan A response. (M. Morales)
UPCOMING MEETINGS/KEY EVENTS
• Next meeting is scheduled for November 29th, 4:30pm at Catholic Charities, 1822 Keeamoku Street.