Strive Women unlocks $1 billion in credit for small businesses

Photo: CARE Vietnam

Partner banks, microfinance institutions, and cooperatives delivered the capital after working with CARE to redesign their products around the needs of women-led small businesses. Men entrepreneurs also benefitted from these products, bringing the total credit delivered through the programme to $1.2 billion.

Women-owned small businesses in emerging and developing economies face a $1.9 trillion financing gap, according to the IFC and SME Finance Forum. Many lenders still require collateral, a male guarantor, or a formal credit history that women often don’t have. Since 2023, Strive Women has worked with financial institutions to remove these barriers. The changes include alternatives to traditional collateral, flexible repayment, digital loan processes, and, in some cases, lower interest rates.

“For too long, women entrepreneurs have been treated as a risk instead of an opportunity. This $1 billion proves what we have always known: when financial institutions remove barriers like collateral and male guarantor requirements, women borrow, repay, and build businesses that last. This milestone is not a finish line. We invite every bank and lender to design with women and make this the standard,” said Michelle Nunn, president and CEO of CARE.

In Vietnam, commercial bank VPBank’s WE Leverage Package raised credit limits on unsecured loans and credit cards by 20 per cent, so women without collateral can borrow more. Thanh Hoa Microfinance Institution now lets women choose repayment terms that match their business cycles and disburses loans within 24 hours.

In Pakistan, Mobilink Microfinance Bank is piloting staff incentives, designed with Strive Women, that reward branch teams for lending to women entrepreneurs. In Peru, Caja Cusco, a municipal savings and loan institution, lowered the interest rate on its Emprende Mujer loan and is preparing digital disbursement through its Wayki app.

“A billion dollars is a big number, but what really matters is what that capital makes possible for women entrepreneurs. These loans can help small business owners open a new storefront, get supplies ahead of a busy season or bring on new staff. Through Strive Women and with CARE, we’re pairing access to finance with practical tools, skills and networks that can help women build more resilient businesses," said Shamina Singh, president of the Mastercard Centre for Inclusive Growth. "This milestone shows what’s possible when we design for what entrepreneurs need. Now we need more partners to join us in turning what works into what’s possible at scale.”

Credit is only one part of the Strive Women programme. To date, it has directly supported over 575,000 entrepreneurs with tailored financial products, including savings and insurance, as well as digital skills, business training, mentorship, and peer networks to strengthen their financial health.

The programme also runs public communications campaigns, online and in traditional media, that inform women about relevant financial services and recognise barriers for women-led small businesses.

In Vietnam, a campaign encouraging families to share housework, so women have more time for their businesses, reached more than 1.3 million people. Across the three countries, these campaigns have reached more than 5.8 million entrepreneurs.

Strive Women, a Mastercard Strive programme, is an initiative developed by the Mastercard Center for Inclusive Growth that connects small businesses with the three things they need to grow and thrive: digital solutions, affordable capital, and networks.

Strive Women runs through 2027. CARE shares the programme’s tools for free through the Strive Women Playbook, so any financial institution can design better products for women entrepreneurs.

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