MINA LENDERS was first developed by Belkis Shindell some fifteen years ago while working in Santo Domingo, Dominican Republic for a company named SNV Group of Funds, were she worked with many types of investors and borrowers to promote the growth of mostly poverty-stricken individuals in this third world country. She realized that poor potential borrowers had little chance of being funded by traditional methods and those that were willing to lend to them were doing so at usurious rates and terms which nearly guaranteed their collateral would be confiscated. When Belkis moved to the United States, she quickly realized the need for financial support immigrants had and began to assemble a team of people she trusted and established the team of professionals who would be top managers of MINA LENDERS.

 

In working for a Philadelphia PA based micro lender, Belkis discovered multiple inconsistences, discrimination, prejudice, injustice, among others, between the so-called mission of offering financial solutions to low-income entrepreneurs, the development of activities to qualify potential clients and the mistreatment during the credit committee sessions of the supposed loans with a character of economic and social development. She decided that the accumulation of experience, knowledge, and the client portfolio would be enough to undertake a project that would respond to the financial need of emerging entrepreneurs and that would result in a positive socio-economic impact for their communities. Most of these prospects are handicapped by lack of English language skills, and some degree of ignorance of the United States’ financial system. Many have approached traditional lending sources, e.g., commercial banks and have been bluntly denied and trepidation prohibits them from seeking further help.