Solutions Series: Community Impact Fund with Mike Scheid
In this episode, Eric and Laurie interview Mike Scheid, the Executive Director of the Community Impact Fund. The Community Impact Fund offers impact loans to individuals and families in need, providing a lifeline for those struggling to make ends meet. Mike shares his personal journey and how it has shaped his passion for helping others. He explains the motivation behind the Community Impact Fund and how it has evolved from providing grants to offering loans. Mike also discusses the loan application process, repayment schedule, and the impact the fund has had on people's lives. He highlights the importance of working with employers and shares success stories of individuals who have been helped by the fund. Mike concludes by discussing the future of the Community Impact Fund and its potential to expand to other sectors, such as housing owners.
About Mike
Mike is a passionate leader focused on “doing good by doing well” in business. Before joining CIF in January of 2021, he owned Share Good Foods, which was successfully sold, and led the development of SGF, a Do Good Things social enterprise. He also worked to drive impact and growth through his leadership at Swoovy®, a platform fueling volunteerism, social connections, and a wraparound support system for nonprofits.
Miscellaneous Facts:
Colorado Native
Avid Outdoorsman who loves to camp, hike, ski, fly fish
Married to his wife of over 25 year who he met as a freshman in HS, She was a senior and not interested.
Father to three girls
On the Board of B:CIVIC a Colorado Nonprofit working to help further business as a force for good.
Previous Roles:
EVP, Social Impact & Partnerships at Swoovy
Director of Technology at Cherry Hills Christian Schools
VP Operations at Rewind Technology
Owner and VP of Do Good things at Share Good Foods
Takeaways
The Community Impact Fund offers impact loans to individuals and families in need, providing a lifeline for those struggling to make ends meet.
The fund started as a way to bring families together over the holidays and provide food, but it evolved to focus on financial wellness and offering loans.
Loans are provided at 0% interest and with no fees, allowing individuals to repay the loan without additional financial burden.
The Community Impact Fund works with employers to offer the loan program as an employee benefit, leveraging the trust and relationship between employers and employees.
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