Microloans have grown in popularity and acted as a tool to eliminate poverty, especially in developing countries. Listed below are five nonprofits working to alleviate poverty and promote sustainable business practices through microloans.
Kiva is the world's first online lending platform connecting online lenders to entrepreneurs across the globe. Kiva Microfunds is a 501 non-profit organization that allows people to lend money via the Internet to low-income / underserved entrepreneurs and students in 82 countries. Kiva's mission is “to connect people through lending to alleviate poverty.”
Whole Planet Foundation is a private, nonprofit organization established by Whole Foods Market. Whole Planet Foundation provides grants to microfinance institutions in Asia, Africa, the Americas and the Middle East, who in turn develop and offer microenterprise loan programs, training and other financial services to the self-employed poor.
HOPE International invests in the dreams of families in the world’s underserved communities.
Accion is an international non-profit microlending organization that fights poverty by providing microcredit and supporting economic and sustainable development.
BRAC works with people whose lives are dominated by extreme poverty, illiteracy, disease and other handicaps. BRAC's mission is to empower people and communities in situations of poverty, illiteracy, disease and social injustice. Its interventions aim to achieve large scale, positive changes through economic and social programs that enable men and women to realize their potential.