Microfinance initiatives have truly taken off as a way to help people with low incomes and/or living in isolated areas and lacking access to traditional banking services to receive financing to put their plans into practice.
While living in poverty and having to scrap for necessities can make people develop an entrepreneurial and opportunistic spirit, they often are unable to use these skills to better their lives due to a lack of access to education, skills training and financial support.
There are a number of creative ways in which microlending, microloans and other microfinance initiatives can be put into practice. These projects have been particularly useful in the developing world, where the amount of money required for a person in a rural hinterland to begin the makings of a small home-based business isn't great.
28 Microfinance Initiatives
From Crafty Microfinance Blogs to $20-Per-Month Homes:
Rahul Kalvapalle — Feb 11, 2015 — Social Good
30
$20-Per-Month Homes
Each WorldHaus is Built in 10 Days and is Designed for the World's Rural Poor
29
Microfinance Investing
Kiva.org Lets You Become a Banker to the Poor
28
Microloan-Funding Necklaces
The Female-Empowering Socially Conscious Accessories Contain Crystals
27
Microloan-Giving Tees
The Naked Hippie Invests in Small-Scale Entrepreneurs in the Majority World
26
Philanthropic Online Platforms
UNITE is Working to Enable Impactful Connections Throughout Africa
25
NGO-Turned-for-Profit Companies
SKS Microfinance is a Loan-Providing Company Based in India
24
People-Focused Finance
Triodos Bank Adheres to the Triple Bottom Line
23
Community-Supporting Tours
This Company Uses Tourist Dollars to Support Local Economies
22
Education-Endorsing Baskets
These Bolga Baskets are Sold to Help Send Girls to School in Ghana
21
Confidential Microloan Services
Trustleaf Lets Business Owners Borrow From Friends & Family Alone
20
Peer Support Entrepreneurship
Village Capital Attempts to Democratize Enterprises
19
Microlending Credit Cards
KivaB4B Doubles Grants
18
Manifesto-Driven Fashion
Holstee Wants Customers to Consider People, Planet, Product
17
Global Charity Microfinancers
WildHearts Provides Microloans to Help People Work out of Poverty
16
Microfinancing Poverty Solutions
Lumana Credit is Microlending to Rural Africans from Seattle
15
Urban Housing Banks
Jamii Bora is a Microfinance Institution Based in Nairobi, Kenya
14
Alternative Banking Loans
The Hilltop Microfinance Initiative Helps in Low-Income Entrepreneurs
13
Crafty Microfinance Blogs
Ahkun Takes a Different Approach with Local Artisans
12
Cashless Microfinance
Musoni Delivers Banking Services by Way of Cellphones
11
Innovative Micro-Crowdfunding Sites
The Tipping Bucket is a Web Platform for Social Change
10
Low-Income Microfinance Associations
RADIM Works in Buenos Aires to Support Economic Development
9
Digital Currency Loans
Bitcoin Brands Hopes to Use Bitcoins to Extend Microloans
8
Youth-Oriented Finances
MyBnk Teaches Money Management and Entrepreneurial Skills
7
Women-Oriented Microlending Programs
'Microlending for Women in Ontario' Supports 800 Women
6
Green Power Microlending
Energy in Common's Person-to-Person Loans Fight Climate Change
5
Global Microfinance Networks
FINCA Provides Financial Services to Low-Income Entrepreneurs
4
Micro-Lending Web Platforms
Lendwithcare.org Works with The Co-operative
3
Charitable Microfinance Companies
Kiva Loans Empowers Less Unfortunate People Around the World
2
American-Based Microlending
ACCION Chicago Provides Financial Access to Small Business Owners
1
Creative Credit Programs
The Microfinance for Artists Research Project Focuses on Socio-Economics
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