Ambassador Powers presented the Thriive Social Impact Entrepreneur of the year award. Thriive provides micro-loans to small businesses. Unlike with traditional loans, however, entrepreneurs must repay their loan through providing a social good to their community. As a result, those loans help small businesses grow and create jobs and strengthen their communities.
Since Thriive began helping small businesses in Nicaragua in 2010, they’ve financed the expansion of close to 40 Nicaraguan small businesses that have created almost 200 new jobs, and donated in-kind products or job training to over 32,000 disadvantaged Nicaraguans — including job training for over 1,100 individuals. This means each Thriive Nicaragua business is creating an average of nearly 5 new jobs and donating products and job training to about 800 people in need!