Philanthropy Friday

More than just money…

Yes, perhaps the most important benefit of receiving a CareLink microfinance loan is the actual money received. The cash, obviously, is needed to purchase the raw materials, supplies, rent, and other items so critical to the new entrepreneur’s business launch.

Business and technical training, however, are critically important as well. One sure way to see a new business owner fail is to hand them cash and wish them well. Encouragement, mentoring, a connection to a faith community, and training are also extremely important. Did you know that training is an essential component to every loan we distribute? In addition to technical training, (baking, barbering, welding, cooking), we provide ongoing business training and coaching for our loan recipients as well.

Business training includes

• Sales and marketing

• Simple accounting, and money management

• Operations and quality

• How to write a business plan

• And more

One of our trainers, Ledy, provides entrepreneurship coaching to our new business owners, and conducts these classes both in person and remotely via Zoom for those new entrepreneurs that have access computers or smart phones. In the nearby screenshots, Ledy, an MBA graduate, (seen in frame wearing glasses on image on the top) provides slides and materials on the “Virtuous circle of an entrepreneur”, and the “Virtues and values of the entrepreneur.”

Our new entrepreneurs are enriched by these materials, and this training is one of the reasons our loan success rate is over 90%.

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