What is the mentorship program?
In partnership with the Maine Department of Economic and Community Development (DECD), the Indus Fund has developed a process for loan recipients to receive a mentor in support of their business endeavors. A mentor is someone who provides objective advice, provides counsel from a fresh perspective, is willing to collaborate, listen and learn, as well as remind you of your goals, your purpose and what you’re working so hard to achieve. The DECD will engage with you to understand your specific needs and will match you with a mentor to offer guidance along the way.
How does the mentorship process work?
During the loan application process, cPort Credit Union will provide information regarding the mentorship program and how to engage in the process. Once loan applicants receive approval of their loan request, they should contact the DECD to request a mentor. The DECD will respond with a request for additional information in order to effectively match the mentee with a mentor.
Why is the mentorship program important?
The Indus Fund is a micro-loan fund dedicated to New Mainers (first generation immigrants) looking to create a life for themselves and their families, catalyze their businesses, build credit and banking history, and help grow the Maine economy. Research has proven that entrepreneurs and small businesses that engage with a mentor are much more likely to succeed and to demonstrate profitability sooner than those who choose not to pursue mentorship. The early years of any business is a crucial make-or-break period and most small businesses agree mentors are vital to success.
Expectation of Indus Fund loan recipients
The Indus Fund understands that navigating a new country, state, and culture brings with it unique challenges to starting and sustaining a business. We are committed to the success and well-being of the Maine immigrant community and therefore strongly urge each loan recipient to take advantage of the mentorship program. Mentors can help navigate issues, expand networks, and assist in developing growth strategies that support you and your business for the long-term.