Email: wmicontact@gmail.com
Phone: 301.520.0865
Geography: Africa
Founded: 2008
Address:P.O. Box 485
Cabin John, MD 20818
About Women's Microfinance Initiative (WMI)
Women's Microfinance Initiative (WMI)'s mission is to establish village-level loan hubs, administered by local women, to provide capital, training and support to rural women in the lowest income brackets in East Africa so that they can engage in income producing activities.
WMI's goal is to help women build assets so that they can stabilize their income, raise their standard of living and reorient themselves and their families. WMI's small loans bring big changes to impoverished women, who use the money to build small businesses.
WMI makes loans available to impoverished women who have no access to banking services. Issuing affordable, collateral-free loans for as little as $50, WMI promotes women's economic participation and carries the hope of prosperity to poor, rural areas of Uganda and Kenya. Microfinance helps the poor grow tiny businesses to generate income that they can use for basic needs, education, healthcare, and savings.
WMI distributes loans through village-level organizations and works with these partners to develop social outreach networks.
WMI is a transparent, home-grown, non-profit organization dedicated to non-exploitive lending practices. It has no debt and minimal overhead costs: all U.S.-based board members, interns, and staff work on a volunteer basis
As of January 2012, WMI has issued over 4,300 loans to women in more than 300 villages. WMI has developed a unique economic model to transition women to bank loans and the formal economy in 24-months. Loan funds are recycled so that the program becomes self-sustaining.