The report provides an overview of community development finance institutions (CDFIs) and the sector in general. It compares the performance of Aspire with its original business plan. It also describes some of the key features of Aspire’s business model, including the target market, loan products, lending methods, and reporting and analysis.  The report looks at the key institutional areas of Aspire and provides a brief performance analysis, highlighting areas of best practice.  It presents a comparative analysis of Aspire’s performance with other microenterprise lenders in the US and Europe, and highlights the main lessons learned and makes some recommendations.

Aspire was a microfinance institution which lent to the self-employed and microbusiness in order to encourage entrepreneurship and self-employment in Northern Ireland, and to tackle financial exclusion and underinvestment.

The study was conducted by ShoreBank Advisory Services and Sarah Forster, an independent microfinance specialist and a senior associate of nef (new economics foundation).

Compares the actual performance of Aspire with the original business plan. Uses a number of indicators to assess performance, and to compare performance with other microenterprise lenders.

The report concludes that Aspire was successful in reaching its target market, and disbursed over 2.4 million euros in loans to over 400 clients.  It was also found that several of the original predictions, particularly in relation to market size, marketing methods, loan products and staff costs were not realistic.

Community Development Finance Association
info@cdfa.org.uk

01/01/2006

Sarah Forster et al.

research

Urban Policy > Economy knowledge & employment > Urban economy

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