By Kirsten Swenson
When Corey Mitchell stepped off the plane in Mongolia, he knew the next three weeks would be an experience he wouldn”t forget.
The bustling city of Ulaanbaatar, filled with cars driving across lane-less streets and the sounds of construction and cattle crossing the busy roads, was to be Mitchell”s home while he worked on his internship.
Many students, like Mitchell, go on international internships in the summer to learn more about their field and gain experience outside the United States.
The Marriott School of Business sent about 100 students on internships around the world for credit this spring and summer, said Eldon Bott, advisement center supervisor.
In Mongolia, Mitchell, 22, a business major from Portland, Ore., tried hard to follow his dad”s advice.
“Learn from the some of the best bankers in the world,” and “keep an open mind,” said Steve Mitchell, Mitchell”s dad.
And that he did.
Xac Bank is the largest microfinance bank in Mongolia. The bank issued micro-loans totaling $300 million in 2006, according to its 2006 Annual Report. The loans went to people who needed help financing their business.
For example, Mitchell accompanied his mentors to check on a woman the bank had issued loans to. Her business was flourishing. She had bought a factory and was building another across the street that was bigger and nicer. She also had enough money to hire workers and bought a truck to help transport her products.
“They have a lot of great ideas and great abilities, but they just don”t have the finances to expand the business or go forward with the ideas they have,” Mitchell said.
Under his mentors, one of Mitchell”s many responsibilities was to assist with distributing the loans.
“When they get these loans, its such a wonderful thing to help them expand their businesses,” Mitchell said.
After the loans were distributed, Mitchell helped tutor them. He said the people weren”t trained, so he helped teach them how to keep account records.
Mitchell also assisted the bank”s internal audit department to write its performance audit, keep track of inventory and assist the clients.
Mitchell said working at Xac Bank was a little intimidating.
“I had to learn a lot of lingo and acronyms and all these little things that they were all comfortable with,” Mitchell said. “It”s like stepping into another world in a sense. I felt inadequate. I didn”t feel like I matched up to their level.”
Mitchell said he could have prepared better for his internship by researching more about the work he would be doing, and preparing more questions to have answered.
“They are very friendly and will answer any of your questions, you just have to have them [questions] ready,” Mitchell said.
Mitchell also said that learning some of the language would have helped; he only knew four words.
“I couldn”t communicate as regularly as I would have liked,” he said. “I would have liked to have spoken to everyone and talked about what was going on.”
Mitchell said the internship was definitely worth it.
“A lot of people don”t travel,” he said. “To see how people act, to see the culture and see the beautiful land, has a positive aspect…wow.”
