Users like you access a large network of potential borrowers online through Kiva, our partner who specializes in peer-to-peer microfinance. Mifex and other MFls post profiles and pictures of potential borrowers. Profiles contain information about the person, their business and the loan they seek.
Lenders can browse through their options of potential borrowers and choose the business they want to invest in, and can invest as much or as little as they want. At the end of the loan period, they get their money back.
Once enough funds have been raised, Kiva disburses the capital to Mifex. Unlike traditional banks, we make loans accessible to our clients by sending our loan officers to deliver the capital directly to the business. Loan officers pay monthly visits to collect payments and update online journal entries to keep lenders abreast of the borrower's growth.
Mifex generates revenue by charging interest rates on capital and fees to cover operational costs.