Opening Doors

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As part of the U.S. micro-enterprise approach, Opening Doors' loan officers also stay in close contact with clients through their Prosperity Project Loan Fund. "We encourage them -- before or as soon as they feel there might be a problem with their business -- to call us," says fund director Marina Salogub, 28, who also hosts a radio show covering business topics for Russian speaking audiences. At the same time, staff like Salogub work with patrons, showing them how to build up their financial standing, frequently starting with basics such as saving rent and utility receipts.

In contrast to the loans from banks and other institutions that Opening Doors packages, the maximum amount offered through the refugee loan fund is $15,000; the average loan amount for this program is $8,000. The default rate is around 1.5 percent.

"We do not encourage clients who just come here without any business experience asking us, 'What kind of business should I open?' Or they just got this idea they have no clue about. What we encourage them to do is go and find a job in this field," a method she says is effective in teaching people how to put their insight into action.

Home-Cooked Business

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