Total loan: $250,000
Microloan Foundation Malawi
Lilongwe, Central Region, Malawi / Services
Flag of Malawi
Microloan Foundation Malawi's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped this Field Partner provide loans to women in rural Malawi during the COVID-19 crisis.
Microloan Foundation Malawi's story
MicroLoan Foundation (MLF) is a non-profit microfinance institution targeting the poorest of the poor in Malawi with 83% of their clients living below the poverty line ($2.50 per day). MLF provides business and financial training and offers business startup loans to women living in rural areas that otherwise do not have access to capital. Kiva lenders have helped MLF serve over 2,000 borrower groups of 10-25 women each with more than $3.7 million lent through the Kiva platform since 2014. Outside of occasional grants, MLF Malawi relies on interest income from loans to sustain their business and serve clients. The global COVID-19 crisis and lockdown restrictions have impacted MLF operations and borrower businesses, reducing loan repayments, and therefore MLF needs flexible working capital to be able to pay staff salaries and operational expenses. This loan will help support MLF Malawi to weather this crisis and be in a position to continue to serve their borrowers throughout the pandemic as they recover from the economic impacts of the crisis. This loan is part of Kiva’s Crisis Support Loan program to assist our Field Partner organizations directly so they can continue to support our borrowers. Because it is part of a pilot program, this loan may have higher risk. Read more in the "More about this loan" section below. Photos include MLF borrower groups, an MLF Agricultural Development Officer providing training to farmer clients, and Loan Officers, Esther and Titus, on their motorbikes used to reach remote rural borrowers.