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Social Capital Markets (SOCAP09)James Gutierrez CEO of Progreso Financiero talks about providing alternative financial services to the underbanked September 1-3, 2009
In this year's new economy, we're seeing a roadmap emerging, allowing us to highlight ways that people and organizations are entering the market, moving forward and collaborating. Players, thinkers and doers came to SoCap09 to learn from each other and get things done. An agenda was created based not just theory, but on new and stronger partnerships that lead to action. And we're building a new kind of capital market, a new way of doing business that takes into account people, planet and profit. Opening keynote speaker, Sonal Shah, Director of the White House Office of Social Innovation, observed that this is an "incredible time of crisis and opportunity for our nation." She outlined problems and opportunities, in particular the opportunities available with an administration that is supportive of social innovation. Alternative Financial Services for the UnbankedJames Gutierrez, CEO of Progreso Financiero, discussed how the company he founded "thrives in a constant balancing act of providing the building blocks that enable under-banked Hispanics to climb the financial ladder, and building a scalable enterprise that also returns a profit to its investors". "Social Capital can help bridge the gap that brings the do-good / do-well philosophy to a tangible business that positively affects the lives of many". He also mentioned how his company only extends credit to customers who can afford to pay their loans back and only lend to a level where re-payment amounts match his customers’ budgets. "We use a proprietary customer management technology to ensure our customers will continue to make payments on time and we provide credit education to help them continue to manage their finances responsibly and wisely". All this ensures that our customers take that very important first step of the financial services ladder with the right support from us. ModeratorArjan Schutte, CFSI Speakers
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