Access to financial services is about more than just economic opportunity—it is a pathway to stability, resilience, and confidence. Yet, women across the globe continue to face greater financial challenges than men.
The 2024 Microfinance Index, released by 60 Decibels, provides valuable insights into both the obstacles women face and the life-changing impact that financial inclusion can have. The most comprehensive study of its kind, the report captures data directly from individuals to understand how engaging with microfinance organizations impacts their lives.
These organizations play a crucial role in ensuring that women, in particular, can access the capital they need to start or grow a business, support their families, and strengthen their communities. Kiva, a global nonprofit, works to advance financial access for women by supporting local organizations like these — which we call Lending Partners. In 2024, the Microfinance Index report included surveys of 14,500 borrowers of Kiva Lending Partners across 31 countries—64% of whom were women.
The findings of the report reinforced what we have always known — that when women have access to financial services, they make smart investments that improve not just their own lives, but also the lives of their families and communities.
This International Women’s Day, you can help accelerate action for women by directly supporting a woman entrepreneur on Kiva.org.
Lorena Esmerelda in Costa Rica used her Kiva loan to purchase fruit to sell in her business to increase her profit margins.
Women continue to face greater financial vulnerabilities
The report showed that women continue to be disadvantaged when it comes to financial access, in many cases lacking reliable alternatives to secure loans. Among those surveyed from Kiva Lending Partners, 56% of women borrowers reported that they could not easily find an alternative to their loan, compared to 50% of men. This highlights the importance of organizations that work to provide women with financial opportunities they may not otherwise have. Without reliable financial options, women are left with fewer resources to invest in their futures, making them more susceptible to economic shocks.
This disparity is further highlighted in emergency situations—the report found that globally, 29% of women would have difficulty affording unexpected expenses, compared to just 21% of men. A lack of financial security forces many women to make difficult trade-offs, limiting their ability to invest in education, healthcare, or entrepreneurial opportunities.
Women are more likely to utilize loans productively
When women do gain access to financial resources, they make the most of them. The data shows that 88% of women use their loans to start, expand, or invest in a business, compared to 81% of men. This suggests that women are leveraging financial services to build sustainable livelihoods and secure long-term economic stability for themselves and their families.
"I feel fully accomplished. I have renovated my pig farm, my business has grown considerably, and I have managed to remodel my house."
– Women borrower featured in the Microfinance Index, 59, Nicaragua
By investing their loans into productive ventures, women are not just improving their own economic situations—they are strengthening their communities. Their businesses generate income, create jobs, and supply essential goods and services to underserved areas. Beyond economic growth, access to finance has a lasting impact on future generations. Women who receive loans are more likely to increase spending on their children’s education, ensuring better opportunities for the next generation.
Additionally, financial stability allows families to improve their overall well-being. Among borrowers from Kiva Lending Partners, 59% of women reported using their income to enhance the quality of their family's meals, closely aligned with 58% of men. These figures demonstrate how financial inclusion leads to tangible improvements in daily life for entire families.
Improved financial resilience for women
Financial resilience is key to economic independence, and women who access financial services report significant improvements in their ability to navigate financial uncertainty. Globally, 73% of women stated that they are better able to cover emergency expenses, while 71% said their ability to save has increased, compared to 62% of men.
The report also saw a marked increase in confidence in financial decision-making, with 44% of women reporting a significant boost, compared to 37% of men.
Additionally, 82% of women surveyed from Kiva Lending Partners experienced a boost in self-confidence, and 90% reported improved quality of life, reinforcing the notion that financial security empowers women far beyond their wallets.
“I have been able to achieve financial stability, this has allowed me to have more confidence and strength to continue investing more in my business. I feel calmer since I realized that my business will give me the income I need to be able to cover my needs at home.”
– Woman borrower featured in the Microfinance Index, 21, Bolivia
Group lending is particularly effective for women
Group lending, where borrowers support and hold each other accountable, are a powerful tool for gender inclusion. Women make up 85% of group loan borrowers, demonstrating the popularity and effectiveness of this lending structure for those who might struggle to qualify for individual loans.
Group lending provides more than just financial access—it fosters community support, mentorship, and shared learning. Women who participate in group lending models report higher levels of community respect (77%) and household decision-making power (74%), than women with individual loans (49% and 47% respectively). The built-in support networks of group lending help women navigate challenges, making financial management more accessible and sustainable.
Women-centered financial institutions improve women’s outcomes
Financial institutions that focus on women borrowers have been shown to generate better financial and social outcomes. Women who borrow from institutions where 90% or more of clients are women report greater financial resilience, community respect, and influence in household decisions. Additionally, 79% of women supported by these women-centered institutions say they are better able to cover emergency expenses.
By designing services with women’s unique needs in mind, these institutions provide meaningful financial inclusion that extends beyond access to loans.
Tatiana, a farmer in Moldova, used her Kiva loan to help fund her autumn harvest activities.
Women in rural communities benefit even more
Women in rural areas often face additional financial barriers and gender disparities, yet those served by women-centric financial institutions see even greater benefits, with 84% reporting increased respect within their communities.
Additionally, rural women experience greater improvements in financial resilience and household decision-making power, which translates to stronger families and more resilient local economies. Expanding financial services to rural women remains critical in closing the gender gap in financial access.
Let’s accelerate action for women
The data is clear: when women have access to the right financial tools, they don’t just build businesses—they build stronger families, communities, and economies. This International Women’s Day, take action and support a woman entrepreneur by lending on Kiva.
As more women gain the tools they need to thrive, the benefits will be felt across communities worldwide.
