70 new jobs, 137 families helped and over 600 individuals positively impacted
The Vistex Foundation awarded a grant to Mentors International, in support of their work in Honduras and El Salvador providing small loans to entrepreneurs who would otherwise have no access to capital. Each loan helps provide training on business and life skills, ensuring that entrepreneurs in developing countries have the resources they need to succeed. The Vistex Foundation grant extended the reach of Mentors International’s work to aid more people and their families.
The loan disbursement has a ripple effect, reaching out farther into the affected communities. First time loans typically range between $120 and $300 per client on a six month loan cycle. New jobs generated are incremental jobs generated by the entrepreneurs that receive the loans. Larger loans are eventually available and are typically agricultural loans that help others by hiring more workers. By helping one impoverished entrepreneur, the impact of Mentors International reaches much farther. The Vistex Foundation grant helped to create an additional 67 loans and 70 new jobs, helped 137 families, and impacted 607 individuals.
Mentors International provides a comprehensive program of business skills training, mentoring, and financial services to impoverished entrepreneurs in the Philippines, Guatemala, El Salvador, Honduras, Peru, and Ghana. They aim to promote self-reliance, self-sustainability, and prosperity amongst those in extreme poverty.