Loan Assistance

In addition to financial need and employment eligibility, selection is based on the following qualitative criteria:

Caliber of Position

• Level of responsibility and level of need for this type of position in the community.
• Function of the role aligned with the social impact of the organization.
• Managerial opportunity and opportunity for managerial development, particularly jobs that require business and managerial skills gained at HBS.
• Opportunity to produce significant, sustained benefits for the employer within these goals.

Job Fit

• Match of the applicant's background and previous experience.
• Applicant's ability to succeed in the position.

Commitment & Long-Term Goals

• Commitment to the relevant industry or sector.
• Alignment of applicant's long-term career goals with job.

Additional criteria

For applicants working at for-profit social enterprises (either founding or joining):

• Social Impact: The social problem you are trying to solve and the specific impact of your solution. [Social impact must be the primary focus of the work of the organization and your role. We will evaluate the likelihood of making a substantial contribution toward the solution of the issue the organization seeks to address; and that the organization can be sustained for a period of time consistent with achieving the desired social impact.]
• Performance Measurement: Specific indicators or outcomes you are tracking or plan to track for social impact. [We will evaluate that there is a practical approach to milestones and organizational outcome measurement, and a clear plan to deliver high performance and measurable social impact.]

For founders (of nonprofit or for-profit social enterprises):

• Social Impact: The social problem you are trying to solve and the specific impact of your solution. [Social impact must be the primary focus of the work of the organization and your role. We will evaluate the likelihood of making a substantial contribution toward the solution of the issue the organization seeks to address; and that the organization can be sustained for a period of time consistent with achieving the desired social impact.]
• People: Size and scope of team, including information on full-time employees, advisors, and partnerships. [We will evaluate whether the team has the relevant skills, contacts, industry knowledge, and experience.]
• Resources: Establishment of an operating budget for current calendar year and projected budget for next calendar year; identified funding sources. [We will evaluate if the funding plan is sensible in terms of capital required to operate; funding sources are identified and a plan for securing investments is articulated.]
• Performance Measurement: Specific indicators or outcomes you are tracking or plan to track for social impact. [We will evaluate that there is a practical approach to milestones and organizational outcome measurement, and a clear plan to deliver high performance and measurable social impact.]
• Salary: Current salary from your organization and projected timing/amounts for increases. [We will evaluate your ability to receive a salary from the organization you founded, for the sustainability of the organization.]

For applicants working in impact investing: Explain the investment thesis for the fund, your role in the fund, and impact of the investments.

For applicants either founding their own organization or working at for-profit social enterprises: If you are granted loan assistance, it will be based on the current status and focus of your organization. As your work moves forward and you submit future renewal applications, the committee will require details that show evidence in the areas outlined above.