The Bentley Microfinance Group is a principally student run certified 501(c)3 non-profit organization charged with managing its large loan fund, BMG targets lending to local entrepreneurs in the Greater Boston area who have found the traditional means of accessing capital closed to them.
The Bentley Microfinance Group was conceived in Dean Chip Wiggins’ honors finance elective during the spring of 2008. After studying poverty alleviation program around the world, students proposed a university based organization to fulfill the significant unmet need in the community. The business plan which was developed called for a student run organization backed by the university, which would assist entrepreneurs struggling to finance their business through traditional banks. In the fall of 2008, Dean Wiggins with other university officials brought the vision to fruition by providing university wide support to the initiative – thus creating the Bentley Microfinance Group.
Bentley Microfinance Group strives to integrate microfinance into the Bentley community and to promote community development through education and innovation in micro lending activities.
At the Bentley Microfinance Group, we understand the challenges faced by many entrepreneurs struggling to obtain the funding they need to be successful. Unlike other lending institutions that shy away from these integral members of our community, we recognize their potential and help to provide the resources that they need.
Bentley Microfinance Group targets clients with the following attributes:
Pre-Existing business they are passionate about
Good character/high social collateral
Cannot receive loan from traditional source
Business is located in the Greater Boston area
General Loan Guidelines
BMG structures each loan to individual client needs; our loans tend to have the following characteristics: