Moody’s Selects Partners for Reshape Tomorrow, Aiming to Help Small Businesses Thrive
NEW YORK & LONDON, October 24, 2018 /3BL Media/ - Moody’s Corporation (NYSE:MCO) today announced the selection of its inaugural list of partners for Reshape TomorrowTM, its innovative, global program to help owners of small and growing business overcome the challenges of expanding their enterprises.
Moody’s has selected a network of six partner organizations and programs, supported by grants from Moody’s Foundation, that focus on empowering entrepreneurs — especially women and members of untapped communities — by helping to provide the expertise and tools needed to navigate the credit process and thrive. Over 50 organizations from around the world applied to participate in the program, which is a key part of Moody’s global Corporate Social Responsibility (CSR) initiative.
“Moody’s is proud to partner with these innovative organizations as the core of Reshape Tomorrow. Together, we aim to empower owners of small and growing businesses with the knowledge, resources and confidence they need to create a better future,” said Arlene Isaacs-Lowe, Global Head of CSR at Moody’s. “We believe these programs can make a real impact on the lives of entrepreneurs seeking to build a more prosperous future for themselves and their communities.”
Each of the programs emphasize preparing small business owners to successfully access credit through better technology, tools and expertise. Moody’s support will include philanthropic grants as well as practical resources and skills-based volunteer participation by Moody’s employees around the world.
The following partners and programs were selected for Reshape Tomorrow:
- Acumen – with support from Moody’s, Acumen will deliver “Acumen Post,” a global program of strategic and operational assistance for small business owners including coaching, finance, sales and technology support.
“Acumen is excited to partner with Moody’s to provide our visionary social entrepreneurs with the support they need, as they scale their businesses to serve low-income consumers with goods and services that allow them to improve their lives and lift themselves out of poverty,” said Jacqueline Novogratz, Founder and CEO of Acumen.
- The Asia Foundation – Moody’s will support “Accelerate Women’s Entrepreneurship: Supporting Migrant Women-Owned Businesses,” a Shanghai-based program helping migrant women grow their businesses through a tailored training program of coaching and networking.
“We are honored to join with Moody’s in accelerating women’s entrepreneurship by supporting migrant women owned businesses in China with an intensive, 2 year program focused on providing them with upgraded skills and resources to grow their businesses--in particular, to access credit and capital--through financial and entrepreneurship education and skills training, networking, and business coaching,” said David D. Arnold, President and CEO, of The Asia Foundation.
- Echoing Green – Moody’s support will enable the “Loan Readiness and Impact Funding Initiative,” a global program to improve social entrepreneurs’ ability to access credit while cultivating a community of early stage lenders committed to social impact.
“We are thrilled to partner with Moody’s to create a program that will enable early-stage social entrepreneurs to access much-needed funding, in the form of loans, to grow their organizations and businesses,” says Cheryl L. Dorsey, president of Echoing Green, a nonprofit organization that supports emerging leaders who are launching organizations to change the world for the better. “Too often these entrepreneurs are locked out of the early capital they need to grow and increase their impact. The Loan Readiness and Impact Funding Initiative will build the foundation for Echoing Green Fellows to become ready and connected to debt-funding to help their organizations go further, faster.”
- TechnoServe – Moody’s will support the “Smart Duka Initiative” in Kenya, helping a thousand retail shop owners to grow their businesses through training and coaching on sales, inventory management and technology, and “Working Capital Financing for Box Shop Entrepreneurs,” in South Africa, which will provide input finance to youth and women retail entrepreneurs within the Box Shop program.
"Working with Moody's will help TechnoServe provide expanded training and support to thousands of entrepreneurs in Kenya and South Africa," said William Warshauer, President and CEO of TechnoServe. "These enterprises are critical for reducing unemployment and boosting local economies, and we look forward to expanding our impact through this new partnership."
- WEConnect International – with Moody’s support, WEConnect International will launch the “Global Training Program for Women Entrepreneurs and Financial Institutions,” in Canada, Germany and Nigeria.
“WEConnect International is proud to partner with Moody’s on this training program to help women business owners access capital and markets. We are thrilled that Moody’s has also joined our more than 80 corporate members, who are committed to building more inclusive global value chains and women’s economic empowerment,” said Elizabeth A. Vazquez, CEO and Co-Founder of WEConnect International.
- Village Capital – through Moody’s partnership, Village Capital will deliver the “FinTech Incubator Program,” in Argentina, Brazil and Mexico City, a capacity building program to give entrepreneurs the tools to grow successful businesses, such as team management and financial planning.
“We’re thrilled to welcome Moody’s into the family of partners working with Village Capital to support financial health entrepreneurs in Latin America," said Allie Burns, Managing Director, Village Capital.
Reshape Tomorrow is part of Moody’s efforts to open the door to a better future, through its recently launched global CSR program. The program focuses on four core areas: empowering people with financial knowledge, activating an environmentally sustainable future, helping young people reach their potential, and sharing our passion and purpose with the world.
Further information is available at http://moodys.com/csr.
About Moody’s Corporation
Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody's Corporation (NYSE: MCO) is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The corporation, which reported revenue of $4.2 billion in 2017, employs approximately 12,300 people worldwide and maintains a presence in 42 countries. Further information is available at www.moodys.com.
Moody’s believes in a world where more people have access to opportunity, and where everyone has what they need to grow and thrive. We are committed to opening the door to a better future through our global corporate social responsibility programs empowering people around the world with the knowledge, resources and confidence they need to succeed. For more information visit moodys.com/csr.
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