FIELD Seeks Microenterprise Organizations to Test Secured Card Product

kristy SRI/ESG News

FIELD is pleased to release the request for proposals for its Asset Building through Credit Pilot Program. The pilot will test the effectiveness of a secured credit card as a tool for helping microentrepreneurs, and would-be microentrepreneurs, build their credit and financial skills. It will also test whether secured cards can be an effective means for microenterprise programs to broaden their product offerings and reach more clients.

FIELD will select up to five organizations to receive grants of $45,000, along with training, technical assistance and peer learning aimed at supporting their capacity to offer the secured card. Pilot sites will be expected to deliver a minimum of 100 secured cards over the one-year demonstration period. To be selected, applicants must demonstrate strong capacity in providing financial education, analyzing credit reports, and supporting the delivery of financial products, as well as a strong history of delivering microenterprise programming. Applicants must also commit to participating in FIELD’s evaluation of the pilot effort.

Request for Proposals