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About MicroBusiness Mentors (MBM)
MicroBusiness Mentors (MBM) was founded in 2002 by a group of students at Brigham Young University. These social entrepreneurs learned about the success of micro-credit loan systems in third-world countries and felt a need to implement a similar system here in the United States. With the help of BYU professor and leader in economic self-reliance Dr. Warner Woodworth, these students set out to provide sustainable assistance in the Hispanic community in Utah Valley.
Their development strategy was based on research that showed a need for small business training and financial services among the low-income Hispanic community in Provo and surrounding areas. Working with Dr. Woodworth, the students launched a small business training and microcredit program designed to provide opportunities to underprivileged Hispanic entrepreneurs. From the beginning, MBM experienced great success, providing quality training, mentoring, and funding to qualified micro-entrepreneurs. Program participants started or expanded successful business ventures in diverse areas. As MicroBusiness Mentors has grown, class sizes have increased and the need to offer English-speaking courses has also increased. To meet these demands, MBM is currently offering one English and two Spanish classes each semester.
In order to expand its impact, MBM has partnered with Community Action and Centro-Hispano, Provo-based organizations supported by United Way. Under the United Way umbrella, MicroBusiness Mentors qualifies as an organization with 501(c)3 status.
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