RMMFI
ROCKY MOUNTAIN MICROFINANCE INSTITUTE
IMPACT REPORT
FISCAL YEAR 2021-2022
A MESSAGE FROM
RMMFI's CEO
The past year has been an unprecedented one for RMMFI. We served a record number of entrepreneurs in the Denver Metro Region, expanded to new communities across Colorado, hit an all-time $1 million lent, and brought on our first non-founder CEO, Jessica Sveen.
Just as entrepreneurs must listen, learn, and innovate – so has RMMFI. In this report we share our results, key innovations, and impact over the past year. This impact is made possible because of you – our RMMFI community!
OUR NORTH STAR
People are unstoppable forces. Life circumstances are real and sometimes overwhelming, yet they should not determine what we can do in the present or be in the future. We believe everyone should be free to make choices to activate the possible. RMMFI creates the space for communities and people of all backgrounds to realize their unique potential through the power of entrepreneurship.
DIVERSITY, EQUITY, INCLUSION, AND ACCESSIBILITY STATEMENT OF COMMITMENT
RMMFI recognizes that in order to pursue our North Star we must approach our work and lead through a framework of racial, gender, and geographic equity. We know racial inequities and systemic barriers in education, access to capital, and access to opportunity have kept people of color and systemically marginalized communities out of mainstream access. We intentionally take part in conversations about structural racism as well as engage diverse voices in problem-solving, decision-making and issues of accessibility.
WHO WE SERVE
RMMFI supports resilient Coloradans who are ready for business ownership that have faced marginalization, societal barriers, or low-wage employment. RMMFI works with entrepreneurs from a variety of high-barrier backgrounds across locations, ages, and demographics which results in a diverse, welcoming community of entrepreneurs.
KEY ACTIVITIES
INSPIRE entrepreneurs to activate their dreams
EDUCATE on business foundations
CONNECT entrepreneurs to coaches and community
SUPPORT the whole entrepreneur
INVEST through character-based capital
ADVOCATE for inclusive entrepreneurial ecosystems
OWNERSHIP OF SELF
Entrepreneurship
Activates Potential
OWNERSHIP OF SELF
Entrepreneurship
Activates Potential
Entrepreneurs identify barriers to personal and professional success
Entrepreneurs recognize their own potential and are empowered to define their personal and professional success
Entrepreneurs experience self-worth, personal agency, and fulfillment of dreams, potential, and ideas
OWNERSHIP OF
WEALTH
Economic Mobility
and Inclusion
OWNERSHIP OF
WEALTH
Entrepreneurship
Activates Potential
Entrepreneurs explore and ideate business concepts
Entrepreneurs launch and capitalize their business
Entrepreneurs and their households experience financial stability and growth through operating thriving, resilient businesses.
OWNERSHIP OF
COMMUNITY HEALTH
Vibrant, Unique, and
Empowered Communities
OWNERSHIP OF
COMMUNITY HEALTH
Vibrant, Unique, and
Empowered Communities
Entrepreneurs build community with one another
Entrepreneurs develop meaningful connections to coaches, customers, community
Entrepreneurs invest in their communities as owners, employers, and local leaders
YEAR-END SNAPSHOT
CAPITAL STATS
$177,556
LENT OVER THE PAST YEAR ACROSS 39 LOANS
$1,022,963
LENT ALL-TIME ACROSS 333 LOANS
95%
REPAYMENT RATE
VOLUNTEER STATS
235
VOLUNTEERS ENGAGED
4,541 hours
VOLUNTEERED
ENTREPRENEUR STATS
13%
OF ENTREPRENEURS PARTICIPATED IN SPANISH-LANGUAGE PROGRAMMING
12%
HAVE BEEN FORMERLY INCARCERATED
100% STARTING WAGES UNDER 80% AMI
ENTREPRENEUR BUSINESSES BY INDUSTRY
