The Geoffrey H. Palmer Center for Entrepreneurship and the Law will launch its Microfinance Program, in partnership with the Union Rescue Mission, on December 15. The Microfinance Program, which was dedicated in 2007 by Dr. Muhammad Yunus, will begin by supporting 12 individuals who are also residents of the Union Rescue Mission in downtown Los Angeles.
Prior to loan disbursement, the prospective borrowers participated in a 12-week training session taught by Pepperdine University faculty and alumni, during which participants learned the basic principles of financial management, business planning, and accountability. Loans are funded by community members through a Web site where borrower’s profiles and business plans are posted for review by potential lenders. Borrowers have one year within which to repay their loans.
Students from the five schools of Pepperdine University are invited to participate as teaching fellows for the instructional components of the program and as coaches for individual borrowers throughout the duration of the program.
The Palmer Center, endowed by 1975 law alumnus Geoffrey H. Palmer, is designed to prepare students for the heightened demands and unique opportunities that technology presents in such areas as business, entertainment law, securities regulation, and intellectual property rights. With a diverse curriculum, the center offers a multidisciplinary certificate program that integrates the study of law, business, and technology, preparing each student to be a hybrid of lawyer, business consultant, and financial strategist.
Learn more about the Microfinance Program and the Geoffrey H. Palmer Center for Entrepreneurship and the Law.