Support a person living in an impoverished community in Mexico to start a microenterprise. Participants will be empowered through life skills and business training to improve their lives.
For people living in marginalized conditions, cultural constraints and impoverishment make it difficult to improve their living conditions and save money, let alone undertake a business venture. But simply providing a loan without the proper knowledge of basic finances is not sufficient; comprehensive financial and life skills trainings are essential for success. IMIFAP will provide “I want to, I can” trainings for individuals to start community banks and local business ventures.
The project will include: a 40-hour workshop for 50 community leaders to replicate with a total of 1,250 participants (70% women, 30% men); follow-up visits; and loans to 600 participants to form small businesses with IMIFAP coaching and support.
Community banks and microenterprises will increase participants’ household income and improve their children´s development. Financial independence also gives women a bigger say in household decision making, thus increasing community participation.