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Lending to refugees can be transformative, but displaced people face significant obstacles in accessing financial services. Innovative lenders are finding solutions to overcome these barriers, and we wanted to find out more. The Kiva Impact team recently conducted a listening tour with 15 partners from the Kiva Refugee Investment Fund, and identified five of the key challenges in lending to refugees, including: 1️⃣ Documentation & legal status issues 2️⃣ Lack of credit history & business stability 3️⃣ Cultural differences 4️⃣ Public opinion & inconsistent policy 5️⃣ High operational costs & risks Learn more about the solutions our partners have developed in this edition of the Reimagining Refugee Finance Newsletter. Read the full article in the link below, and subscribe for more 👇 #FinancialInclusion #SupportRefugees #RefugeeFinance

How are you using AI to support your dreams? Everyone deserves the opportunity to pursue their dreams and improve their livelihoods. Kiva facilitates access to capital, supporting US small business owners in reaching their goals. But finance is rarely enough; we’re keen to understand how AI tools support small business growth in the US, too. If you are starting or running a small business, comment below with other ways you use AI tools.

5 ways to increase financial access for refugees. After initial emergency aid lapses, displaced communities are often left vulnerable and struggle to access vital long-term financial services to rebuild their lives. We asked 15 partner institutions in the Kiva Refugee Investment Fund about the innovative solutions they are implementing: 1. 𝗧𝗮𝗶𝗹𝗼𝗿𝗶𝗻𝗴 𝗹𝗼𝗮𝗻 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝘁𝗼 𝗺𝗲𝗲𝘁 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗻𝗲𝗲𝗱𝘀: In Chile, Galgo has adapted to match the needs of refugees arriving from Venezuela. For housing, people were originally asked for a deposit of about three months in advance. Many refugees did not have enough accumulated income to make this deposit. So Galgo financed a rent guarantee. 2. 𝗔𝗱𝗮𝗽𝘁𝗶𝗻𝗴 𝗹𝗼𝗮𝗻 𝗼𝗿 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 𝘁𝗼 𝗺𝗲𝗲𝘁 𝗿𝗲𝗳𝘂𝗴𝗲𝗲𝘀 𝘄𝗵𝗲𝗿𝗲 𝘁𝗵𝗲𝘆’𝗿𝗲 𝗮𝘁: In some cases, processes are what need the biggest adjustment: requirements, documentation, and terms and conditions. In Costa Rica, MiCredito has adapted their permanent address requirements to make group lending accessible to those in temporary living arrangements. 3. 𝗗𝗶𝗴𝗶𝘁𝗶𝘇𝗶𝗻𝗴 𝗽𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀 𝘁𝗼 𝗮𝗱𝗱𝗿𝗲𝘀𝘀 𝗱𝗶𝗳𝗳𝗶𝗰𝘂𝗹𝘁𝗶𝗲𝘀 𝗶𝗻 𝗿𝗲𝗮𝗰𝗵𝗶𝗻𝗴 𝗿𝗲𝗳𝘂𝗴𝗲𝗲 𝗰𝗹𝗶𝗲𝗻𝘁𝘀: Several partners cited geopolitical violence, remoteness, lack of infrastructure, and more as broader challenges in serving refugees. In response, several investees have turned to digitization. FINCA Armenia implemented a tablet lending project that has been effective in reaching borrowers in remote areas. 4. 𝗘𝗺𝗯𝗲𝗱𝗱𝗶𝗻𝗴 𝗰𝗹𝗶𝗲𝗻𝘁 𝘃𝗼𝗶𝗰𝗲 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝘀𝘆𝘀𝘁𝗲𝗺 𝗯𝘆 𝗵𝗶𝗿𝗶𝗻𝗴 𝗹𝗼𝗰𝗮𝗹𝗹𝘆: Several partners noted that navigating cultural barriers, ranging from language to mindset, are a challenge. But organizations that hired staff from the client communities saw improvement. In Colombia, Finamiga works with local people from the area to serve refugees. 5. 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗼𝗿𝗴𝗮𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻𝘀 𝘄𝗶𝘁𝗵 𝗰𝗼𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝗿𝘆 𝗲𝘅𝗽𝗲𝗿𝘁𝗶𝘀𝗲: Partners indicated that building strategic alliances with local, national, and international organizations is key. FINCA Armenia partners with the Armenian National Agrarian University to source agricultural training for their clients. In Uganda, UGAFODE partnered with Kiva to secure guarantees for what were considered “higher risk” loans to refugees. What else would you like to know about financial access for refugees? Let us know in the comments! 

Congratulations to ATEC Global, an Australian social enterprise and Kiva lending partner, on raising $3.75 million in Series A funding to expand operations across Asia and Africa! With this, its cutting-edge IoT electric stoves can impact more lives for the better. 🥳 🎉 ATEC is dedicated to helping solve this problem; cooking fuel is a significant household expenditure in much of Cambodia and Bangladesh. But traditional cooking fuel, like wood and charcoal, is becoming increasingly scarce and is linked to hazards like toxic fumes and black soot emissions. It’s also a significant contributor to climate change. ATEC offers high-quality, energy-efficient cooking solutions. Kiva loans help ATEC expand its existing loan program, making its products more accessible to those who need them. Congratulations, ATEC! Read more here: https://bit.ly/3XjF6zN

They met while working at Whole Foods, but it was their dream to see their own products stocked on the shelves. It wasn't easy getting started. “When you’re looking for funding as a startup, there’s so much that goes into considering if you’re going to qualify. So much of it is the collateral that you have, but we didn’t have much as far as collateral went. It’s like you need to have money in order to get money. It’s a big Catch-22.” – Erin, now the co-founder of 2 Girls with Curls Learn how they made their dream a reality in this edition of the Invest in Women newsletter. Do you have a story about seeking funding as a startup? Share your thoughts in the comments 👇 #InvestInWomen #FinancialInclusion

🎉 🏆 Kiva is thrilled to announce that we are a finalist in the Community Building category for the 2024 .Org Impact Awards! The #OIAs recognize mission-driven organizations for their dedication to making the world a better place, and we're honored to be among these incredible change-makers. Beneficiaries like Raphat, an artisan from Ghana, use Kiva loans to expand their businesses and achieve their dreams, all thanks to the collective action of millions of individual lenders around the world. We agree with ORG In Action and Public Interest Registry that this generous community is worth celebrating! 💚 Learn more at orgimpactawards.org #ORGImpactAwards

Addressing climate change calls for commitment and action across all levels, from systems and global organizations to communities and individuals. Here are a few ways you can do something about climate change 🌍: 🌱 Turn off lights and appliances when not in use 🌱 Carpool or use more public transportation 🌱 Eat less red meat 🌱 Reduce single-use plastic use 🌱 Minimize food waste 🌱 Plant a garden of your own The effects of climate change have already begun to take a toll, especially on people already vulnerable to instability. The UN reports that since 2008, an average of 21.5 million people a year have been displaced by environmental disasters, and the number continues to grow. While adapting to the reality of climate change isn’t simple, there are plenty of actions we can take as individuals and communities. Learn more about Kiva's work with climate-affected communities: https://bit.ly/46F61Jj

In the midst of a crisis, refugees need immediate support to help them access food, safe shelter, and medical care. As these basic needs are stabilized, they must face the long-term rebuilding that follows. And at all stages of this journey, refugees should have access to financial services that address their needs and help them overcome their unique challenges. Learn more in this first article of our new newsletter. 👉 Subscribe for more on how we can reimagine refugee finance together. 👈

Congratulations to Kiva’s Executive Vice President of People & Culture, Don Carter, MBA, SHRM-SCP, who is now also a founding member of the Employee Wellbeing Council! Together, they work to achieve sustainable workplace well-being through a holistic approach, something Don brings to Kiva's culture each day through his leadership. We can’t wait to follow this vital work.

𝗥𝗘𝗦𝗜𝗟𝗜𝗘𝗡𝗖𝗘 𝗢𝗙 𝗔 𝗚𝗥𝗘𝗘𝗡𝗛𝗢𝗨𝗦𝗘 𝗙𝗔𝗥𝗠𝗘𝗥 𝗜𝗡 𝗠𝗢𝗟𝗗𝗢𝗩𝗔 Tatiana begins work at 5 a.m. She owns seven greenhouses in Moldova, and Monday through Saturday, she cultivates ripe vegetables—crisp cucumbers, bright peppers, juicy eggplants, and more. After noon, Tatiana and her workers take refuge from the harsh sun and later, they return around 5 p.m. to continue working. But one day, strong winds severely damaged her greenhouses, and she didn’t know where to turn to repair them. 𝘏𝘦𝘳𝘦’𝘴 𝘩𝘰𝘸 𝘩𝘦𝘳 𝘫𝘰𝘶𝘳𝘯𝘦𝘺 𝘣𝘦𝘨𝘢𝘯: She didn’t start out in agriculture. Tatiana grew up in the Chernivtsi region of Ukraine and moved to Moldova after earning her diploma to begin her new career as a teacher. There, she met her late husband, who introduced her to agriculture. They grew radishes together in open fields before building two greenhouses for tomatoes and cucumbers. Tatiana balanced teaching and farming until her husband passed away, leaving her to look after their land and greenhouses. She worked to take care of her family and pay off debt, which was going well until the greenhouses were damaged one day. “It was a big wind, it broke all the films, and I didn’t know where to get it and what to do,” recalls Tatiana. After talking with a woman from a nearby commune, Tatiana decided to look into a Kiva loan. “When they approved my loan, I was very happy. Because if I didn’t have the film, I’d lose everything,” she says. Now, all seven of Tatiana’s greenhouses are functional, and she dreams of acquiring two more. We are going forward. Maybe we’ll put some berries in there,” she muses. “We don't stop — we go.” Learn more about Tatiana’s small business and how you can support entrepreneurs like her worldwide: https://bit.ly/3A9Ejbz