For small business owners, the consulting strategies, support, and microloans provided by Emory Impact Investing Group (EIIG) can catapult small beginnings into big results. Celebrating its recent ten-year anniversary, the group continues to provide impact for entrepreneurs and their communities.
That’s what happened for Kali Arnold, owner of Sati Yoga & Wellness, located in the heart of Kirkwood in Atlanta.
“My collaboration with Emory Impact Investing Group has been instrumental in helping me reach my personal and professional goal of creating a Yoga Teacher Training program,” says Arnold. “This would not have been possible without the funding and support I received. Through the Yoga Teacher Training program, we have developed our studio. We now have nine students who will soon become yoga teachers. They will continue to share the healing benefits of yoga with the community. These students will begin to offer free yoga classes this spring, providing accessible yoga for the community.”
Arnold is one of the latest entrepreneurs to benefit from the robust organization comprised of students from Goizueta Business School’s undergraduate BBA program.
The Power of Microloans
Since its inception in 2014, Emory Impact Investing Group has awarded 24 microloans ranging from $5,000 to $15,000 and helped a bevy of local, early-stage entrepreneurs from historically underserved communities, create strategic moves that have a tangible impact on their businesses and their community. Entrepreneurs who apply go through a rigorous due diligence process for an average of three-to-four months. Then, if approved, it takes a month for funds to be disbursed. Recipients have three years to repay the low interest loans.
From the beginning, research conducted by Peter Roberts, professor of organization and management and founding academic director of Social Enterprise at Goizueta, has influenced the group’s intent to bridge the microbusiness gaps in lower income areas that, historically, don’t have access to resources or financing. “His research showed the importance of small businesses in communities and the impact these businesses can have on the economic prosperity of communities,” says Saanvi Sood 25BBA, the group’s 2024 CEO. “Inspired by this research, a few students started Emory Impact Investing Group and they fully fundraised by themselves, with money from family and friends, to get their first $5000 loan disbursed.”
Building a Lasting Legacy
To celebrate this 10-year milestone, the group’s leadership team made a series of strategic moves of its own.
“We engaged in an extensive fundraising campaign to grow our fund. Then, we fundraised close to $160,000 with a few commitments on the way,” notes Sood. “We were able to go from a $200,000 fund to $360,000 fund.” This total includes a matching gift from Emory, which was supported by Gareth James, the John H. Harland Dean at Goizueta, and spearheaded by Andrea Hershatter, associate professor in the practice of organizations and management, senior associate dean of undergraduate education, and the group’s academic advisor.
Thanks to Goizueta’s strong network, monies raised will allow Emory Impact Investing Group’s fund to sustain in perpetuity. “There should not be a need to ever fundraise again,” Sood says.
In addition, the group hosted a 10-year celebration in November, which included panel discussions with new entrepreneurs who just received loans, and a networking event on Patterson Green, where close to 150 people, including entrepreneurs, advisors, alumni, students and donors, gathered to celebrate.
Student Leadership: The Driving Force
While some things have changed over the years, the group’s team approach to empowering entrepreneurs remains.
“What’s unique about the support Emory Impact Investing Group gives, goes beyond the microloans,” notes Sood. “First, our relationships are long lasting. We help entrepreneurs throughout those three years of repayments. They have a team of students for the entire step of the process. Second, we help them with implementation. We don’t devise a strategy then hand it off to an entrepreneur. Instead, we go further, and make it come to life by applying the strategy to their business and being able to see that tangible impact,” she says.
James Carr can attest to the benefits of working with Emory Impact Investing Group. Carr is founder and CEO of Farmers Jam, a company that makes all natural, fruit-forward cocktail syrups.
Working with Emory Impact Investing Group reinforced our strategy. Explaining it to curious, intelligent students who brought fresh eyes to our business and receiving their buy-in gave me confidence we were moving in the right direction.
James Carr, Founder and CEO, Farmers Jam
“If anything, they helped to enhance and shape our existing strategy and enabled me to focus on what I do best for the business,” says Carr.
In addition, notes Carr, his team urged him to embrace the company’s beginnings. “We started as a jam band of local farmers. Music has played a smaller and smaller part of our business as we’ve grown, but the group encouraged me to highlight the musical elements more often because it is the root of our company, and more people are interested in music than agriculture,” adds Carr. “It opened a new avenue for creativity that we look forward to expanding on.”
A Growing Network
Such strategic insight is why the group has not only grown in influence but in membership. Students apply to join and, if accepted, begin their journey in one of the group’s four branches: Due Diligence, Research, Consulting, or Development. The latter group sources the socially impactful entrepreneurs that eventually join the loan program and builds connections with accelerator partners like Goizueta’s Start:ME Accelerator program as well as other consulting clubs at Emory and local agencies. Last year, the group numbered 240 members strong, making it the largest club at Goizueta and one of the largest at Emory. So far this year, the group totals 140 students.
A fact that brings a chuckle from Brandon Walker 16BBA, an analyst at Coatue Management in New York and co-founder of Emory Impact Investing Group. “We had to beg people to join,” he recalls. On a serious note, Walker, who welcomes the opportunity to advise CEOs when requested, sees the group’s evolution as a testament to the leaders who came after him.
The thing we were really trying to do, beyond the core mission of attacking the small business gap in Atlanta with inexpensive debt, was to establish a group on campus where the most entrepreneurial and high-potential students would want to join—where they had license to make an impact on the group. I think that has been the coolest part of watching the group grow.
Brandon Walker 16BBA, founding member, Emory Impact Investing Group
Walker adds that while the founders “had some good initial success, what has allowed the group to stand for over 10 years is that every year the baton of CEO has passed to an incredible student, and they have driven it to the next height, and the next height, and the next height.”
“That’s why Emory Impact Investing Group is what it is today,” adds Walker. “Not just because there was a group of great founders, but more so because there’s been a cascade of awesome student CEOs.”
Walker also notes that the impact of building the group as they tackled real-world problems continues to pay dividends. Not only did his experience give him confidence in his own ideas and ability to execute, but he learned “the simple Xs and Os of a business model,” which, as a hedge fund analyst, “is very valuable for evaluating the quality of a business and whether or not the business is failing or working or anything in between.”
Indeed, Gina Wang 26BBA finds great value in leading the due diligence process for Emory Impact Investing Group last year. Not only did working with entrepreneurs strengthen her ability to assess a business, but it enhanced her skillset, enabling her to lead the group as its CEO for 2025.
“Over the past three years, I’ve definitely strengthened a lot of skills like communications,” Wang says. “It’s vital to constantly keep your audience in mind and be able to switch viewpoints. When you are talking to entrepreneurs, they have different backgrounds and experiences than where you come from. This is something I learned throughout the experience.”
Similarly, Sood’s four years with Emory Impact Investing Group have provided an incredible experiential learning opportunity that’s resulted in a depth of understanding in finance, business, and leadership. She’ll use this knowledge as an associate with Boston Consulting Group upon graduation.
From the beginning, Emory Impact Investing Group has attracted outstanding student leaders. In turn, their real-world experience with the organization has enhanced and informed their careers. Among the BBA alumni who helped shape the group are Casey Rhode 17BBA (CEO 2017), chief strategy officer at OneOncology; Jonathan Ross 24BBA (CEO 2023), business analyst, McKinsey & Company; Jonathan Moore 18BBA (CEO 2018), advisor for TCG; Christopher Kusumonegoro 22BBA (CEO 2020-2021), program assistant with Arabella Advisors; and Priyanka Desai 20BBA (COO 2020), senior manager strategic finance at Nexus Circular.
Looking Ahead
Today, Sood notes that extending the group’s impact remains a strategic focus. Last year, she and the executive board worked to find ways to help applicants who were denied a loan. This included tapping community partnerships with organizations both within Emory—like Consult Your Community, a Goizueta club that offers pro bono consulting for small businesses—and beyond, to accelerators in Atlanta or government entities and organizations, to offer resources to the entrepreneurs.
“If we reject an entrepreneur, we will refer them to those resources. It improves their chances of receiving a loan,” she says.
Sood adds it’s very common for entrepreneurs to be denied loans, referred to resources, then return to apply again. “Even after being denied a loan, people still have faith in the program. They are willing to apply again and feel comfortable making that decision again.”
Moving forward, Sood and Wang are united in their vision for the future: staying true to the group’s mission and ensuring the organization remains accessible to all students.
“What’s held consistent over the last 10 years is dedication and alignment to furthering our mission,” notes Sood. “We have a very strong emphasis on DEI practices when it comes to both recruiting students but also in our internal operations. For instance, by having a bias training for analysts to ensure all communication aligns with our mission and values.”
In addition, Wang stresses the importance of “reaching more of our community and maximizing our impact within our membership.” Specifically, “We want to ensure we provide a great experience for every student. Regardless of assignment, we want to make sure they all work well together. I would love to see this sustained and carried further in the next 10 years.”
Join Emory Impact Investing Group in empowering small businesses and fostering lasting community impact. Learn more about EIIG’s mission and how you can get involved.
