UI Faculty Member and Professor of Management, Long Le, was featured in SCU’s online news this April. The article highlights Long’s ZiM program – a former international microloan program – which he recently revived and revised for the benefit of our unhoused neighbors.
ZiM (Zero-Interest Microfinance) provides small loans and financial education to help people currently, or at imminent risk of, experiencing homelessness. Loans can help support or start a person’s microbusiness, pay for a gap in rent, or cover costs of necessary licenses or education. Financial literacy training through ZiM teaches borrowers the basics of budgeting, building credit and managing personal funds.
The ZiM program leverages the UI’s strong community connections to find program participants. UI community partner organizations, such as Neighborhood Hands, the Mobile Showers, and SCU’s own Unhoused Advocacy Clinic, work with Prof. Le to recommend clients to the ZiM program.
Borrowers pay zero interest on their microloan and can be eligible for additional funds after repayment. Repayment not only helps borrowers build their financial acumen, it also allows them to support others in similar situations. Investments in ZiM help people get back on their feet and find a bit more stability as they navigate the many stressors and complexities of being unhoused.
Congratulations to Prof. Le for launching this new iteration of ZiM! To read the full article, click here.
The Unhoused Initiative at SCU 