Gender inequality is a global problem, but it is especially amplified when it comes to the financial opportunities presented to men and women. While there has been a significant improvement in gender equality since women were first allowed to vote, statistically, women are underrepresented in most financial positions: form borrowers to lenders, not to mention regulatory bodies or high-standing positions in banking institutions.
Micro-financing for female borrowers
Micro-financing platforms like AssetStream will allow women with lower social status and lack of work or credit history to start borrowing small sums of money, to jumpstart their finances or even start their own small business.
Women in developing countries struggle with finding additional finance even if they have jobs, which is why microfinancing is the first step forward. AssetStream has developed a platform, which allows borrowers to build on their existing credit history, or start compiling it from scratch if they don’t have any records. It means that women will get equal opportunities with men when it comes to personal or business funding. As the platform does not differentiate between male or female borrowers, everyone gets access to the same financial and educational materials, balancing the possibilities for both genders.
Microfinancing can be a viable funding opportunity for women coming from different social standings, who would otherwise have to turn to unregulated lenders. Many young women are afraid of taking the serious steps of becoming founders of their dream companies, coffee shops, online shops, etc. Due to the lack of credit history, regular payments and collateral, many of them set aside their brainchild and live ordinary lives.
These women are ignoring the fact of our world have numerous successful SME owner ladies. Findings from the IFC’s Enterprise Finance Gap Assessment Database show that there are roughly 9.34 formal million women-owned SME in over 140 assessed countries, which is approximately one-third of all formal SMEs. Based on either measure, South Asia has the least.
These stories should inspire us to proceed with our dreams even if we get declined by a bank as we can find an alternative, innovative micro-financing platform like AssetStream.
Microfinancing for female lenders
Platforms like AssetStream will not only improve female borrowers’ access to funding but will also allow female lenders to grow their money securely. While the world of finances has been predominantly reserved for male investors, microfinancing eliminates this separation.
Anyone who has the funding and meets the platform requirements can join the AssetStream platform as a lender. Thus, women interested in growing their already acquired finances will have the opportunity to become lenders on this secure micro-financing platform.
Innovative micro-financing can equalize the rights and possibilities for women in the financial world, growing their participation in economic activities.
Take a look at recent history and be proud that society is changing to adjust to every gender, race, and nationality to have full access to financial instruments. It is only possible with international, border-less and advanced micro-financing platform, such as AssetStream.
Microfinancing brings equal opportunity for everyone
Thanks to a versatile verification process anyone who has supplied sufficient information to the AssetStream platform can become a borrower or a lender. It means that microfinancing helps bring funding opportunities to everyone, without emphasizing on their gender or any other demographic component.