Kiva Wins $100K Grant from Boundless Futures Foundation to Empower Women Entrepreneurs
Kiva, a renowned global nonprofit dedicated to empowering individuals and entrepreneurs through crowdfunded loans, has recently secured a significant $100,000 grant from the Boundless Futures Foundation’s Her Village initiative. This funding is specifically designed to enhance the growth of women-led businesses across the United States that tackle pressing social and environmental issues.
Empowering Women Entrepreneurs with Grant Funding
The Her Village grant will be instrumental in establishing a revolving loan fund on the Kiva platform, focusing on female founders and social entrepreneurs. In addition to providing financial support, this grant will finance a co-sponsored impact study aimed at evaluating the societal benefits generated by female-led social enterprises.
Collaboration to Address Systemic Barriers
Kiva and the Boundless Futures Foundation are committed to working together on strategic initiatives that aim to dismantle the systemic barriers faced by women entrepreneurs. Soon Hagerty, the founder and president of Boundless Futures Foundation, expressed her enthusiasm for this partnership:
“We restructured our Her Village grant for nonprofits to create a more profound impact on the complex issues female founders face and to help address systemic challenges. We look forward to collaborating with Kiva to develop a holistic approach that supports female founders in overcoming obstacles to success and scaling their social enterprises.”
The Funding Gap for Women-Led Enterprises
Despite the significant contributions of women-led social enterprises, they often encounter substantial hurdles in securing funding. According to a report by Harvard Kennedy School, these enterprises receive a mere 2% of venture capital investments in the U.S.
Advancing Research and Access to Capital
Vishal George, CEO of Kiva, highlighted the importance of this partnership, stating:
“Women-led social enterprises are driving solutions to global challenges, from climate change to economic inequality, yet they face persistent funding barriers. Our collaboration with the Boundless Futures Foundation is an exciting opportunity to expand access to capital and advance research that demonstrates the transformative impact of these extraordinary entrepreneurs.”
Conclusion
The partnership between Kiva and the Boundless Futures Foundation represents a vital step towards supporting women-led businesses that are making a difference in society. By addressing the funding gap and providing essential resources, this initiative aims to empower female entrepreneurs and foster sustainable growth.
For more information on Kiva’s initiatives and how you can contribute to supporting women entrepreneurs, visit Kiva’s website.
