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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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: