Microloans for Women in Business

A new program called FITE provides microloans to women in business.

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Paul Brissman

Jane Wurwand, founder of the skin care company Dermalogica, is teaming with the microfinance platform Kiva to launch FITE.

FITE has facilitated 365 loans, averaging $300 each, to women worldwide. Here are three examples:

Rahela Faroqy, founder of Faroqy Group, a tailoring business in Kabul, Afghanistan, received $1,175 from 40 lenders to buy cloth and a new sewing machine.

Maria Manzo, founder of Madame Shoes & Accessories in Tomball, Texas, raised $8,600 from 274 lenders. Manzo plans to use the money for advertising.

Oyun Nymaa received $825 from 27 lenders to buy more products for her food stall in Han-Uul, Mongolia. She hopes to expand to a larger grocery store.