, the non-profit which facilitates microloans to underserved communities, has bucked the trend. Today marks the milestone for Kiva having deployed more than $1 billion in microloans to 2.7 million female entrepreneurs across 94 countries.
Kiva’s goal is to create a more connected and inclusive financial system that empowers all individuals to realize their full potential.Access to finance is a huge challenge for female entrepreneurs across the world. Two-thirds of the world’sare women—that makes for one billion women who do not have access to credit or financing options. Kiva provides a platform for individuals and organizations to lend to underserved communities.
Microloans are often the beginning of a longer empowerment journey to support female entrepreneurs, who face many barriers. “Kiva views the role of microloans as a stepping stone toward not only larger loans, but also toward improved financial literacy, business acumen, community links, and reputation—all things that very directly improve the ability of our women borrowers to secure further capital,” says Chow.
A billion dollars may be a small drop in the ocean of funding for entrepreneurs, but it has certainly made a dent and called to attention the unequal access to funding between women and men. To continue the conversation, join Kiva and The PepsiCo Foundation in their #FuelHerFuture campaign, calling on new and existing lenders to build on this progress and continue to catalyze change for women around the world.
Give a woman the means, she inspires a nation!
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