Alan Pruitt

Today, I had the honor of being one of the Guest Bloggers at the San Francisco Microfinance USA 2010 (@mfusa2010) conference at the Metreon. Following is the blog assignment submitted about the Opening Address speaker.

#MFusa2010 Blogger Alan Pruitt and Mr. Martin Eakes – May 20, 2010

#MFusa2010 Mr. Martin Eakes May 20, 2010

ECONOMIC JUSTICE

Martin Eakes, CEO of North Carolina based Self-Help.org and the Center for Responsible Lending delivered the Opening Address at this morning’s Microfinance USA 2010 event.

Following the “Conversation with Maria Shriver”, Martin delivered a compelling case for “economic justice” in today’s world of lending and entrepreneurship.

Martin’s description of his background and life lessons establishing the Self-Help in North Carolina presented a perfect backdrop for his call-to-action for “economic justice” and sacrifices that must be made by borrowers and lenders alike.

Martin recounted many instances of barriers to lending (actually borrowing) that were constantly undermined by social and economic pressures of demographics that were intent on sabotaging the rights of those seeking to rise above the “economic norm” of poverty and regressive social policies of the Rural South.

Another aspect of economic justice Martin mentioned was check cashing and payday-lending businesses that really hurt local economies. Predatory lending costs Americans billions of dollars annually, through abusive subprime mortgage loans, payday loans, tax refund loans, and other lending scams.

In closing, Martin reminded audience members that 3 action steps must be taken to ensure economic justice: #1 – Create a community that fosters economic justice; #2 – It is our duty and privilege to fight for (economic) justice; and # 3 – self-sacrifice can lead to (economic) healing in our country. Best take away comment that Martin provided: ”Money (lending) without vision is not worth anything at all.”, and “Let this gathering (#MFusa2010) be a starting point for fighting for economic justice.”

Meeting Martin after his presentation and speaking to him briefly confirmed my impression that he is a revolutionary thought leader (maybe a “linchpin”, as described by Seth Godin in the book by the same title) for the microfinance community and a defender of consumers — regardless of their social-economic status or demographic.

But unfortunately, humans will feel safer with the status quo, (i.e., predatory lending, un-banked habits, and lack of “financial” focus) rather than follow the courageous and sound recommendations of a giant mind like Martin Eakes.

Follow Martin Eakes @CRLONLINE (Center fo Responsible Lending)

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@alanpruitt is the Director of the Western Arizona Economic Development District that provides economic development services to rural communities in La Paz, Mohave, and Yuma counties in Arizona.

[Source: Online PhD Programs for MashableMashable.com]

I encourage small business owners to contact your local Small Business Developmenmt Center (SBDC) to learn more about these SBA programs. One thing to keep in mind – it is not ”free money” and your primary lender still needs to be on-board. The SBA is not a “direct lender” (yet), but this $80 million will filter down to Main Street at some point. At least in Arizona, Wells Fargo Bank continues to be the number 1 lender ($42.5M)  for SBA lending; followed by JP Morgan Chase Bank ($10.5M) as of FY2010 2Q ending March 31, 2010.

A small business owner still requires a solid business plan (or a “recovery plan”) to submit to the lenders and an above-average credit score (700+?) to be eligible for these programs. These are not programs for start-ups or small businesses with no financial track record. Some lenders now require 3 or more years of business financials and personal finacial disclosure information.

Our nation’s economy is being driven in large part by small businesses and entrepreneurs, and SBA loans will continue to be the critical financial resourse they need in the midst of the economic downturn.

WASHINGTON – President Barack Obama signed legislation yesterday (April 15, 2010) providing $80 million in additional funding to continue important enhancements in the U.S. Small Business Administration’s two key small business loan programs.  The enhancements, first made available under the American Recovery and Reinvestment Act, include a higher guarantee on some SBA-backed loans and small business fee relief.

Read SBA Press Release…

@alanpruitt  Business Analyst @AWCSBDC

@hilzfuld is spot-on with these gentle reminders about Twitter practices. The DMing thing is just out-of-control! In January, I thinned out over 700 followers who engaged in a lot of the practices mentioned in the post (below). Twitter is a powerful communication tool – but it requires PEOPLE to be behind the message/s – not some automaton widget sending out nonsense DMs (have you read some of these a-w-f-u-l tweets? — how (sometimes) desperate.

Via - 5 Twitter Practices People Have to Stop Doing | Mobile | Social Media | Newest Technologies by Tech N’ Marketing.

@alanpruitt

It should go without stating the obvious that “now” Google is paranoid about security. There is hope that the China hacking caper will at least be a lesson learned for ALL Internet providers and consumers that vulnerabilities exist – no matter what computing ecosystem is involved.

Bottom line: Be vigilant and backup data frequently with tools like @Carbonite and @Backupify

Via - Google CEO: Were now paranoid about security | Relevant Results – CNET News.

@alanpruitt

Employers should take heed of this article and try to understand the perils of creating draconian “IT lock down” atmospheres in the workplace. What’s the point? Proving that you can bend your employee’s will? Or are you r-e-a-l-l-y worried about “time sink” activity. I am not saying employers should not have a say in worker productivity or conduct in the workplace. Instead, a thoughtful review of social media policies should be reviewed and articulated with the goal/s of  creating a fleet of champions for your firm or enterprise. Just look at how BestBuy handles customers and tech support with @Twelpforce.

Via - Why Banning Social Media Often Backfires.

@alanpruitt

This is a “benchmark” blog article that does a fantastic job of laying out the strategy of social media marketing and the emphasis is on strategy — not “tools“. Very apropos for my upcoming Social Media for Non-Profits workshops in May and June.

Cheers! @nickeyjameson Well done.

Via - What’s Your Social Media Marketing Strategy?.

@alanpruitt Business Analyst @ Arizona SBDC Network.

This will be the reward for those who were tempted (but declined) to purchase the iPad last week. With my high satisfaction level with my HTC Android-based cell phone AND my almost exclusive adaptation of Google Apps (enterprise edition) — this slate might change my personal and business computing habits in the near future. This device could be the primary device to lug around all day.

“Got Google?”

Via - Google Developing Tablet to Take on iPad.

@alanpruitt

This is my first blog post from my T-Mobile HTC Android (MTG3) using a WordPress app. Not bad for mobile blogging. I have spent the last few days revising my social media tool box and WordPress is the engine for this project.

Sigh…some of the small businesses that I consult for — still think Twitter is a silly Internet gadget and a passing fad. Wrong! This Twitter Business 101 Guide should help clear up the misconception about what Twitter can do for (any size) business – especially in rural areas.

The (by far) largest comment that I hear is: “I don’t have time.” Well, what else are you doing to engage customers and how is that working for you?

Via - Twitter 101 for Business — A Special Guide.

@alanpruitt Business Analyst at Arizona SBDC Network.