MicroBusiness Mentors (MBM) was founded in 2002 by a group of students at Brigham Young University. These social entrepreneurs were committed to changing the world, and dove into the world of microcredit. They set out with the goal of out to provide sustainable assistance to the Hispanic community in Utah Valley.

Their development strategy was based on research that showed a need for small business training and financial services among the low-income Hispanic community in Provo and surrounding areas. Working with Dr. Warner Woodworth, the students launched a small-business training and microcredit program designed to provide opportunities to underprivileged Hispanic entrepreneurs. From the beginning, MBM experienced great success, providing quality training, mentoring, and funding to qualified microentrepreneurs. Program participants started or expanded successful business ventures in diverse areas.

In order to expand its impact, MBM has partnered with Community Action and Centro Hispano, Provo-based organizations supported by United Way. Under the United Way umbrella, MicroBusiness Mentors qualifies as an organization with 501(c)3 status.