Specially trained Methodist missionaries team up the poorest villages around the world with FINCA in order to encourage and support the efforts of the self-employed poor.
Microfinance Connection Teams Up with FINCA to Provide Critical Business Skills Training
The United Methodist Microfinance Connection, in partnership with FINCA, provides Business Skills Training classes to every microloan recipient. We believe these Training Classes transfer knowledge and build the community understanding that maximize the chances for an entrepreneur to succeed.
Providing skills training transforms minds, and changes the lives and families surrounding the entrepreneur. Teaching all-important concepts about planning and management have proven to be far more effective than simply providing an entrepreneur with a cash loan.
For an individual or group to qualify for a loan from FINCA, the Intro to Microfinance and Savings training sessions are required.
Methodist field teams currently provide the following types of training for potential entrepreneurs:
Intro to Microfinance
The required Introduction to Microfinance course presented in local churches lasts about 2 1/2 hours depending on class participation. The session presents the 2 main mechanisms FINCA uses to deliver financial services (Relationship-based for individuals, and Group-based for groups.) The program also outlines the purposes of the program (alleviating poverty, developing the community, and growing the local church) and details the various FINCA products. This introductory course serves as an effective introduction to microfinance and to FINCA’s microloan programs.
The required Savings Training course lasts about 2 1/2 hours depending on class participation. Using the attention phrase “Savings – You Can Do It!” the title of the course is “Financial Education – From Poverty to Prosperity.” The 5-step course covers the basics of how a microfinance relationship with FINCA can help participants to achieve better and fuller lives for their families.
The Marketing Training course concentrates on helping recipients of a FINCA loan to understand the basics of marketing – from identifying who customers are, understanding their needs, and determining how to service and satisfy them. The session also teaches about the importance of market research, and how to learn about both customers and competitors.
The informative Costing Training sessions help entrepreneurs understand the realities of managing the overhead of a small business: how to price their product or service, and how important it is to project in advance the true money and time costs involved.