""The specific barrier is capital," says Lisa George, global head of the Macquarie Group Foundation. "Without access to capital, it's very hard to get social mobility and educational mobility in life.""
"Good Return's first impact investment fund closed at one million Australian dollars. That seed capital, deployed as loan guarantees to local financial institutions, catalysed five million Australian dollars (approximately $3.5 million) in loans to more than 600 small businesses."
"Macquarie was really pleased with the results of the first fund," says Shane Nichols, CEO of Good Return. "Their team provided pro bono support to us to help us."
Women entrepreneurs globally struggle to access financing, with an estimated 400 million affected. This lack of access could hinder a potential $6 trillion boost to the global economy. In the Asia-Pacific region, banks are reluctant to lend due to stereotypes and lending criteria that do not accommodate female-led businesses. Initiatives like the Macquarie Group Foundation's investment in Good Return aim to improve access to finance for women-led enterprises, targeting the 'missing middle' with loans ranging from $1,000 to $100,000.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]