ProMex Group is a 501(c)(3) charitable non-profit that raises funds and supports micro-finance organizations operating in Sonora, Mexico.
ProMex Group strives to alleviate poverty and economically forced migration by providing disadvantaged Mexicans with access to capital and education to grow businesses in northern border cities of Mexico.
ProMex Group provides small to mid-sized loans, savings, business and health education are provided to enable people to grow sustainable businesses and improve the lives of participants, their families and communities.
ProMex Group’s partners in Mexico are a sustainable organizations – the relatively low interest that is charged on the loans covers the operating costs. So a $200 contribution to ProMex Group will help three individuals per year indefinitely.
If you support economic development along the Mexican border, consider supporting ProMex Group. You can:
– donate to the project,
– lend to ProMex Group,
– donate items that could help small businesses,
– allow us to speak to your group,
– visit the projects in Mexico,
ProMex Group started in 2004 in Nogales, Sonora, Mexico with a USAID grant obtained by Catholic Relief Services (CRS). EnComún was awarded several additional grants (applied for by CRS), included one from the Howard Buffett Foundation that greatly helped expand the reach of the project. We use a variety of methods to reduce poverty.
Village Banks – communal banks
Small loans are provided to help grow existing businesses. Groups of 10-15 people are formed. They meet every two weeks with a ProMex Group officer to support each other, make small payments, and receive business and financial education classes. The members of the group each other cross-guarantee the loans. Loans typically range from US$50 to $800.Solidarity Groups – smaller group loans
Loans granted to groups of 4 to 10 people and designed for more experienced entrepreneurs with larger enterprises who guarantee each other’s loans. Members who make repayments on time become eligible for larger individual loans within VisionFund Mexico. Loan sizes range from US$500 to $1,200.
Small Business Loans – individual loans
Below market rate loans are provided to small businesses to help them grow. Awarded to borrowers with good credit history, a successful micro-business and a long relationship with ProMex Group.
To help clients with uneven incomes, unexpected expenses, and business growth.
ProMex Group raising funds (donations and loans) to set up member owned cooperatives. Currenty we are working on three:
- agriculture – (starting with farming) cooperatives to allow the workers to be owners of the organization and gain from the profits.
- bakery – providing a common location and equipment were members can work, learn and share with each other.
- brewery – provide brewing equipment which serves as the guarentee for the loan to the coop. They will repay the loan when production begins.