Helena MT MentorsInternational.org Micro Loan Update: Mentors International Announces New Smiling 3rd World Loan Options for Micro Businesses
Reno, NV -- (SBWire) -- 12/16/2013 --The poor in developing countries are trapped. They lack education, good nutrition, and a safe place to raise their families. They cope with harsh social, economic, and environmental hardships. Poverty problems are extensive and complex. Inherited hunger, chronic malnourishment, and stunted growth have negative long-term effects on a child’s working capacity and intellectual performance. Such nutritional problems are prevalent in developing countries as are illness, disease, ignorance, abuse, and degrading customs. Because there is no formal economy, a majority of the populations in developing countries can’t find work. They must fend for themselves and their families without the resources they need to succeed http://www.mentorsinternational.org/contact-us/.
Mentor International believes that some reach for success. Many of the hardworking poor in developing countries—often illiterate—become entrepreneurs by default. At a local market or on a busy street corner, they try to sell fruit, household items, or soft drinks. Some work to produce and sell handicrafts, and still others operate their own small repair shops. Unfortunately, people living in poverty are ill-equipped to start, manage, and expand a business.
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Draper, Utah 84020
Microcredit is one part of the solution. With microcredit, the poor gain the ability to work their way out of poverty one step at a time. Microcredit is the extension of very small business loans at affordable interest rates. With these loans, people work their way out of poverty as they build businesses and generate steady incomes. Many eventually hire additional employees in their growing businesses, creating jobs and providing income to more families. A microloan is attractive to the hardworking poor https://www.mentorsinternational.org/generaldonation/. Microloans enable poor entrepreneurs to:
2012 Mentors International Guatemala Expedition
Purchase tools and raw materials
Increase product variety
Improve product quality
About Mentors International
Mentors International (Mentors) is a private, 501(c)(3) non-profit microfinance organization that helps the impoverished in developing countries achieve self-sufficiency.
We end poverty in developing countries around the world. Mentors has established seven partner foundations, one in each of the largest cities of the Philippines (Manila, Cebu and Davao), and one in Guatemala, Peru, El Salvador and Honduras. Each foundation has its own local board of directors and indigenous staff, but is a legal subsidiary of Mentors International and is supervised by the U.S. management team. Mentors also provides start-up support, training, operational funding and loan capital for its partner foundations.
We help the poor help themselves. With Mentors’ guiding principle of “a hand up, not a handout,” the donor-recipient relationship is transformed. Mentors requires full repayment of loans, based on individuals’ ability to pay, and provides clients with the tools of knowledge necessary to become self-sufficient.
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