What is microfinance?
According to Investopedia, microfinance is a type of banking service that can be provided to unemployed or low-income individuals, or groups who otherwise have no other access to financial services. Ultimately, the goal of microfinance is to give low-income people an opportunity to become self-sufficient by providing a way to save money, borrow money and get insurance.
How does Kiva work?
By lending as little as $25 through Kiva, anoyone can help a borrower start or grow a business, go to school, access clean energy or realize their potential.
At Encripto, we thought this was a great concept for supporting entrepreneurs and communities around the world. We believe that lending is one of the most powerful and sustainable ways to create economic and social good.
When a Kiva loan enables someone to grow a business and create opportunity for themselves, it creates opportunities for others as well. That ripple effect can shape the future for a family or an entire community. As of today, Encripto has supported 240 entrepreneurs in 59 different countries.