At the heart of the microenterprise's growth problem is the fact that they do not generate enough leftover revenue to use as investment capital. Furthermore, they lack access to formal finance. In order to solve this problem, Mifex offers small-scale loans to microenterprises to use to improve their businesses.
Microfinance is not a new concept. In fact, it has increasingly gained popularity as a source of funding for the poor in developing countries, reaching a milestone achievement in 2006 with Muhammad Yunus, who spearheaded the microfinance movement, being awarded the Nobel Peace Prize. So what is different about Mifex? It's in the way we generate the capital for the microfinance. Through our partnership with Kiva.org, anyone in the world with an internet connection and a credit card (or PayPal account) can invest in small businesses in Ecuador. From the convenience of your home, you can lend money to people and help fight the global war on poverty. We also differentiate ourselves in the market by offering more complete microfinance program that promotes and teaches the responsible and intelligent use of finance.
Mifex is not just a microfinance provider though. We seek to educate and train our borrowers so they may use their investment capital wisely. We have two training centers in Guayaquil, Ecuador, where entrepreneurs receive courses that teach them the skills necessary to manage their businesses and finances successfully. These are the Mifex Microentrepreneurial Research, Information and Training Centers.