July was a Record-Setting Month in Colombia
We are thrilled to share exciting news about our Elevate micro-business mentoring program in Colombia. Last month 1,035 new micro-enterprises were enrolled!
This innovative program leverages our partnership with Bancolombia, the leading bank in Colombia. In this model, the bank pays for each small business to receive six months of one-on-one mentoring with our local team, along with access to group workshops and new business management technology tools. Upon completion of our Elevate mentoring program, each micro-entrepreneur receives a reduction in their interest rate.
This collaboration in Colombia allows us to reach and serve more families while creating a sustainable source of funding for the in-country operation. As a result of this partnership, we now have over 50 full-time mentors working to lift Colombians towards prosperity.
Elevate is a synergetic program that deepens our mission.
We are committed and continue to lift and mentor those in “extreme poverty,” who are oftentimes considered un-bankable, by providing business mentoring and micro-loans. The Elevate program serves an adjacent population—individuals and families who are true “Necessity Entrepreneurs”. Though they participate in the formal banking system, they too battle the negative effects of poverty.
As a result of the Elevate Program, these micro-entrepreneurs also experience significant increases in income, savings, business organization, financial security, and overall growth. The stabilization of these micro-businesses creates a ripple effect that uplifts surrounding communities. Our pre/post evaluations reveal that for every three businesses we train in Colombia, one new job is created!
The Elevate program is scalable and has national reach throughout Colombia and extends to participants across several countries throughout Latin America who participate virtually.
“We are committed to our mission of empowering micro-entrepreneurs and fostering economic growth in developing countries through education and training.” – Juan Camargo – Colombia Country Director
We are Mentors International. Mentoring is in our name. IT IS OUR MISSION to lift individuals and families from poverty towards prosperity through mentoring and education–transforming generations.
We will continue to advance our mission by building strong partnerships with like-minded institutions like Bancolombia that share our vision of economic development and transformation through education.
Thank you for the support that allows us to continue in this work. Together we are transforming lives and impacting generations. Please share this these exciting updates with your friends and family by sharing this story on your social.
