White House Author
Grace Philipp serves as a project manager of the Social Entrepreneurs of Grinnell in Grinnell, Iowa. The Social Entrepreneurs of Grinnell (SEG) manages an innovative domestic microfinance initiative to combat the problem of rural poverty in central Iowa and empower individuals in desperate situations. Faced with little access to traditional credit, low-income families often turn to loans from predatory lenders that are nearly impossible to repay, which can lead to homelessness, joblessness or worse. The Local Loans Project has already provided $13,000 of temporary financial assistance to 25 individuals in the form of small, no-interest loans to help break these persistent cycles of poverty and debt. Grace has been a member of the group for four years and is very involved in both the Local Emergency and Entrepreneurial Loans Projects. In addition, she serves as advisor to the International Loans Committee. In these capacities she works to create mutually empowering connections between students, loan partners, entrepreneurs, and microfinance enthusiasts.