What is microfinancing?

Microfinancing involves small loans typically in the range of $100-$25,000 to individuals or groups that may otherwise have little to no access to traditional financial services.Microfinancing allows lower-income individuals, those who are unemployed, or those who live in areas without financial services access to small loans that they can use to start or grow their business. The impact can be big--many of these individuals use their businesses to help support their families.

How can I microfinance?

You can microfinance with as little as $25 through microfinancing crowdfunding platform Kiva. Kiva connects lenders with borrowers across a range of countries (including the U.S.) and allows users to filter the types of loans they wish to make by loan term, location, partner rating, and more. This can help lenders adjust the level of risk they are willing to take when lending on the platform.

BWIB Microfinancing

BWIB has used the Kiva platform to microfinance for the past year. Thus far, we have lent over $500 to women-owned businesses across the world in Africa, Latin America, and the Philippines. Kiva allows BWIB to reach women in countries that we may not have the opportunity to help otherwise. Many of the women we lend to support their families through their own businesses. Our loans help them expand and grow their business and help secure their financial futures.