Microgrants Policy Overview: Updated Edition
*Updated Oct 2024
Please refer to the attached document for detailed information on our microcredit policies. The full text is also included below for your convenience. For any questions or partnership inquiries, please contact us at growthlinkofficial@gmail.com!
Growth Link: Goal-Linked Microgrants Policy
- Version: Oct 2024
- Contact: growthlinkofficial@gmail.com
- Advisor: s7kim2026@chadwickschool.org
Purpose
Growth Link issues small, goal-linked microgrants to individuals for whom loans are inappropriate. A grant is forgiven when the recipient meets a pre-agreed milestone. There is no interest and no penalties. This document summarizes the minimum policy we follow for eligibility, custody, disbursement, verification, hardship review, and data privacy.
Eligibility
- Applicant is referred or vetted by a partner (A1 W M Learning Academy Inc, Cavite Integrated Learning Center, Christ's Commission Fellowship) able to verify milestones.
- Demonstrated short-term financial constraint where a small grant enables progress (ex., semester fees, credentialing, medical recovery).
- Grant purpose is specific, time-bound, and realistically achievable within 1–6 months.
- Applicants disclose any overlapping funding for the same purpose to avoid duplication.
Award Size & Allowed Uses
- Typical award: USD $50–$400; absolute cap per case: USD $700.
- Permitted uses: tuition/fees, exam registration, transportation, essential materials, or short-term medical aid tied to return to study/work.
- Prohibited uses: cash gifts without purpose, debt repayment to private lenders, long-term stipends, or any unverifiable use.
Custody & Controls
- Funds are held in a custodial account by Seohyeon (Elin). Other student officers do not hold cash.
- Every disbursement requires dual approval (student lead + alumni mentor) recorded in a shared ledger.
- Disbursements are made by bank transfer, mobile money, or vendor invoice; never hand-to-hand cash when avoidable.
Milestones & Forgiveness
- Milestones are defined before disbursement and written in a one-page agreement signed by the recipient and verifier.
- Examples: complete a semester with ≥ 3.5 GPA; finish a certified course; provide post-surgery clearance; document equipment use.
- When verified, the grant is closed as forgiven, and an anonymized impact note is published.
Verification & Documentation
- Verification may include transcripts, receipts, attendance or clinic letters, and verifier confirmation.
- A log entry (date, amount, purpose, milestone, verifier, file link) is created for each case.
- Documents are retained for 12 months, then archived or deleted per data-privacy policy.
Hardship Exception (Non-Completion)
- If milestones aren’t met due to hardship (illness, job loss, family emergency), the case is reviewed by a three-person panel (student lead, partner rep, alumni mentor).
- Possible outcomes: (a) extend timeline; (b) revise milestone; or (c) convert to unconditional gift.
- There is no debt collection.
Data Privacy
- We collect only minimum necessary data and restrict access by role.
- Public updates use anonymized summaries (amount, purpose, verified outcome) unless consent is given.
- Data is shared only with fiscal sponsors, auditors, or lawful requests.
Governance & Transparency
- No grants to Growth Link staff, officers, or family.
- We publish brief case notes and an annual one-page summary (totals, average award, completion rate).
- Concerns or appeals: contact growthlinkofficial@gmail.com. Acknowledged within 7 days.
This is a policy summary. Detailed SOPs (forms, checklists, and templates) are available upon request.
