Impact
InNova Global Fund has become an effective tool in Kenya to support entrepreneurship and improve economic conditions.
Microlending has become an effective tool in Kenya to support entrepreneurship and improve economic conditions. It helps reduce poverty, create jobs, and boost incomes through access to small microloans that can be used to finance microenterprises or purchase assets for income-generating activities. Microlending is especially beneficial for those in rural areas who are not able to access traditional forms of credit from banks and other financial institutions due to lack of collateral or limited economic opportunities.
InNova Global Fund's
Current Impact
We average 300,000 requested microloans per day. Our system has the capabilities to give out 3.0MM microloans per day.
Numbers below are approximate and updated quarterly.
191.0K
Daily Microloans Disbursed
$109.0 MM
Microloans Funded Monthly
93.0%
Repayment Rate
$19
Average Microloan.
Minimum Loan is $5 USD
60%
Microenterprises are Business Women
In Kenya, microloans offer a variety of benefits
Microlending enables people to start or expand businesses without the need for significant upfront capital investments. This provides individuals with the opportunity to generate greater income than they could otherwise earn by staying in their current employment situation. Additionally, it can provide entrepreneurs with more autonomy over their income sources. The microloans also enable entrepreneurs to increase productivity and efficiency, which can lead to increased output and quality of products or services.
The Government of Kenya has been instrumental
The Government of Kenya has been instrumental in promoting microlending initiatives, offering subsidies, microloan guarantees, and other incentives to encourage participation. By providing access to credit for small businesses, the country can reduce unemployment and support economic growth. In addition, microlending organizations offer mentoring as well as business management training for those just starting out or expanding their existing operations.
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International Microlender
Disclaimer: *Rates and conditions are subject to change and are not guaranteed.
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