Women's Microfinance Initiative
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Mission Statement
WMI's goal is to help women build assets so that they can stabilize their incomes, raise their standards of living and reorient themselves and their families. The WMI loan program is run by local village women who learn valuable administrative and leadership skills. As an end-goal, WMI seeks to transition experienced borrowers into independent banking so that they can take their rightful place in their country's formal economy. All of the WMI loan hubs become self-sustaining within 2-3 years, meaning they can operate in perpetuity and provide ongoing services to marginalized rural populations without further capital infusions.
About This Cause
Started by women in the Washington, D.C. area, WMI makes loans to impoverished women in developing nations who have no access to banks. Issuing affordable, collateral-free loans for as little as $50, WMI promotes women's economic empowerment to reduce global poverty. WMI's goal is to help poor women build assets to stabilize their income, improve their familiy's living standard, become advocates for their families/communities, and transition into independent banking and the formal economy.