Marketing and Fundraising Team: Log # 7 by Jessica Avenia-Gamba

GLOBE may not be at the level of success we would like it to be, but that does not mean it is not making progress. Although our repayment rate is not as great as it could be and our borrowers are difficult to keep track of, I sincerely believe the organization is making an impact, both locally and globally. We are raising awareness in our community, recognizing our mistakes, and proposing solutions just as social entrepreneurs should be doing. 

Our discussion in class made me realize that we cannot expect people who have never had the responsibility or capacity to build credit to know the meaning of repayment. We are aware that they are a major risk, but as a social action-driven organization, we are willing to take that chance. We fail to understand that our borrowers also know they are a risk for us and as a result they lack the confidence to manage their own business successfully. For this reason I suggested that it is crucial for GLOBE to focus on finding a way to educate the people we seek and provide them with the proper tools to succeed in their businesses and educate them on the importance of credit.

The article on social entrepreneurship was also very helpful in understanding the world of microfinance and microloans. It is essential that we differentiate the work we are doing with GLOBE from the work of other social action organizations that do not promote entrepreneurship. For example, although social activists are motivated by change, their methods are less direct. These types of groups are working with social systems already in place and pushing for modifications to improve them. Social entrepreneurs are innovative thinkers seeking to create an entirely new system that will change society as a whole. This does not mean that social entrepreneurs sometimes do not use the same tactics as social activists and traditional nonprofit organizations. It simply means that we set boundaries and understand differences; otherwise, it gives the public the opportunity to find flaws in the organization and ultimately ignore the cause altogether.