This course uses the new version of our software, Microfin 4.

Note: Register early!  The October 2008 course in Cape Town was fully subscribed two months before the course date!

Summary
This course guides participants through a step-by-step process for developing a business plan and financial projections for a microfinance institution using Microfin 4.0, the sophisticated financial projections software that was developed by the facilitator of this training course, Chuck Waterfield, together with Tony Sheldon, with financial support from CGAP, Women’s World Banking, and Sida.  

Microfin has long been the microfinance "industry standard" for planning and budgeting.  Microfin allows you to develop detailed five-year financial projections and budgets for your institution, and to simulate the impact of key decisions on your institution.

Microfin 4.0 includes 200 major enhancements over Microfin 3.0, including an expanded range of financial products, improved guidance and error-checking features, versatile graphing, and much more.

This fast-paced course is designed to be highly participatory, with a large amount of hands-on time working in groups at the computer, applying the software to a detailed case study.  In addition to the course manual, at the conclusion of the course, participants will receive a CD-ROM containing Microfin and the User’s Handbook.

By the end of the workshop you will have a better understanding of:

	practical approaches to planning
	the most important financial ratios to monitor, and how to interpret them
	critical operational issues such as designing products to meet client needs, pricing your products, and focusing on loan officers to leverage institutional productivity
	how to develop long-term, diversified financing strategies
	how to use Microfin to develop financial projections for your own institution

This workshop is facilitated by the developer of Microfin, and is based on the CGAP Handbook he co-authored, Business Planning and Financial Modeling for Microfinance Institutions. He has taught this course in 20 countries around the world, and it is one of the most recognized and attended courses in all of microfinance.

Agenda

Monday to Friday, 9:00 AM to 5:00 PM.   Coffee, tea, snacks, and lunch will be provided daily.

Day 1

	Overview of Business Planning: Participants will review and discuss the Business Planning framework. In particular, attention will be directed to the market-based approach of the framework.
	Strategic Planning: This section will address the key steps of strategic planning – articulating the mission, identifying clients and markets, performing an environmental analysis, carrying out an institutional assessment, and developing an overall strategy.
	Overview of Financial Management: We provide a brief overview of financial statements, the calculation of financial adjustments, and the key financial ratios used in the microfinance industry.

Day 2

Operational Planning and Introduction to Financial Modeling / Product Design: Over Days 2 through 5, we will apply the strategy developed on Day 1 to creating an operational plan and detailed financial projections, beginning with design of credit and savings products (loan amounts and terms by cycle, pricing, collateral, etc.). Small group exercises throughout will focus on applying a case study to the new version of the Microfin model.

Day 3

Establishing Marketing Channels: Operational planning continues with projecting the levels of activity for each credit and savings product, including growth strategies by branch, retention rates, and analysis of Microfin’s outputs and graphs.

Day 4

Determining Institutional Resources and Capacity: We will look at each aspect of institutional capacity (staffing, operating expenses, fixed assets), linking resources to credit and savings activity.

Day 5

	Developing a Financing Strategy and Analyzing Projected Financial Statements and Ratios: We will look at designing a financing strategy by sources (income, grants, equity, debt) and by uses (operations, portfolio, and other assets). We will also review the overall financial projections
	Advanced Microfin topics:  We will cover advanced topics in Microfin, including sensitivity analysis, variance analysis, creation of additional graphs, etc.

Registration
Registration is limited and will be on a first-come, first-served basis.  To register, please complete and return the form at the end of this sheet and we will send you payment information.  Course fee must be paid in full at the time of registration. We cannot reserve places in the course without receiving payment. Please refer to our refund policy at the end of the registration form.  Course registration includes course materials, lunch, and coffee breaks. 

Early Registration discount: For registrations paid at least one month in advance (before 7 Nov) we offer a 10% discount on course fees.

Group discount:  For groups of 3 or more people registering at the same time from the same organization, we offer a discount of 10% per participant on course fees.  For groups registering prior to 7 Nov, this results in a 20% discount per person.

Hotel Options: If you also request a hotel room, the room fee covers five nights in the hotel, with breakfasts included.  Please inform us if you need the hotel room for additional nights and we will let you know the additional cost.  The hotel also offers multiple-bedroom apartment options, including kitchen facilities, for groups of two to six people.  Contact us for details and pricing.

Laptop Computers: Participants will work on laptop computers during the course. It is not necessary for each participant to bring a laptop, because we will be working in groups of three. However, to help us in logistical planning, please indicate if you will be bringing a laptop computer.

Visas:  If you will need a visa to enter South Africa, please begin the process as soon as possible.  We can provide a letter of invitation once you have registered for the course.

Fee Structure (all prices in EUROS):

Facilitator

Chuck Waterfield, the creator of Microfin, has over 20 years experience in microfinance, having served as microenterprise director for MEDA and for CARE International. His current work as an independent consultant includes clients such as the SEEP Network, SIDA, the Ford Foundation, CGAP, Opportunity International, and Aspen Institute. He has taught ten years at the Boulder Microfinance Training Program, eight years at Southern New Hampshire University’s Microenterprise Development Institute, and is on the faculty of Columbia University School of International and Public Affairs. In addition to Microfin and the Business Planning handbook, he has a broad range of products and publications including the SEEP FRAME Tool, the CARE Credit and Savings Sourcebook, GEMINI Technical Note on Designing for Financial Viability, and CGAP Handbook on Management Information Systems.

REGISTRATION FORM

(Just copy and paste this information into an email, fill in the blanks, and sent the email to waterfield@microfin.com)

Name                                                                                                                                       

Institution                                                                                                                                

Address                                                                                                                                   

Job Title:                                                                                                                                   

Telephone:                                                                                                                                 

Email:                                                                                                                                         

Laptop Computer:         I can bring a laptop                    I cannot bring a laptop

Visa assistance:        Yes         No     I will (not) need a letter of invititation for a visa to S.Africa

Hotel Room:        Single Room             Shared room (2 people/room)          No hotel room

Gender:            Female                Male

I wish to share a room with (optional):                                                                          

Expected date of arrival to hotel:                                                                                   

Expected date of departure from hotel:                                                                         

Payment must accompany or immediately follow this registration form in order to reserve a place in the workshop. (For groups of 3 or more from the same organization, there is a discount of 10% per participant in the course fees excluding hotel). Payment may be made by wire transfer, check in US$, or in some cases by credit card.  Please e-mail waterfield@microfin.com for details prior to processing payment Please email registration form to: waterfield@microfin.com

Fee Structure (all prices in EUROS):

Refund and Cancellation Policy: If you are unable to attend, you are free to send someone else in your place, but please inform us in advance.  Hotel arrangements may be impacted if gender of the substitute participant is not the same.  Cancellations are subject to the following refund policy:

	90% if notice of cancellation is received at least 30 days in advance of the beginning of the course
	75% if notice of cancellation is received 21-29 days in advance
	50% if notice of cancellation is received 14-20 days in advance
	25% if notice of cancellation is received 7-13 days in advance
	No refunds can be made if notice of cancellation is received less than 7 days before the beginning of the course.

MFI Solutions, LLC                 T: (717) 475 - 6733
325 N West End Ave               E: waterfield@microfin.com
Lancaster, PA 17603 USA       W: www.microfin.com
 
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