Philo’s core mission is to empower customers in their everyday, while supporting female entrepreneurship. A portion of proceeds goes toward providing business loans to intrepid women who wouldn’t otherwise have access to funds. Upon repayment, each loan gets reinvested into another proactive recipient, creating a cycle of giving and growing.
A B O U T M I C R O B A N K E R
Microbanker is a non-profit organization that provides business loans to women entrepreneurs in Uganda. The loans are made available to women who would not otherwise have access to credit through traditional banking institutions due to their remote location, or other restrictions.
Microbanker believes that providing access to microfinance services could improve the economic resilience, independence and freedom of Ugandan women and their households. In addition to providing financial loans, Microbanker also provides training in basic financial literacy, ensuring that every applicant is poised for success.
A B O U T M I C R O F I N A N C I N G
Microfinance is about providing financial services to low-income or disenfranchised households. It is an approach to poverty alleviation that aims to empower individuals by providing the necessary resources to finance income-producing activities, build assets, stabilize consumption, and insulate against risk.
Unlike in traditional banking, Microfinance institutions tailor their services to meet the diverse financial needs of low-income families. Furthermore, they do not operate like traditional banks, using methodologies such as group lending, and pre-loan savings requirements to evaluate a client’s credit worthiness. As a result, Microfinance can provide business capital to individuals who may not otherwise qualify for traditional lending, granting them the opportunity to break the cycle of poverty.
S O M E O F O U R L O A N R E C I P I E N T S
Get to know some of the women who have benefited from our giveback program, and how microfinancing has impacted their livelihoods.