Why small business owners have such a hard time getting loans – Foreign Policy
Getting a good loan is a challenge for many entrepreneurs, especially women.
According to world Bank, small and medium-sized enterprises (SMEs) represent approximately 90% of the global economy. But these types of businesses, too big for microfinance and too small for cheap commercial bank loans, face many hurdles in borrowing money. In today’s episode of Hidden Economy of Remarkable Women, we dig deeper into the ‘missing middle’ credit gap and what can be done to improve SMEs’ access to finance. Additionally, we look at the specific barriers that women business owners face, such as how low ownership rates hinder their ability to qualify for small business loans.
Host Reena Ninan talk to Ada Osakwefounder of Nuli juice, on the various obstacles she overcame to grow her business, including her nearly destroyed first store in Lagos, Nigeria. Then the World Bank economist Mahesh Uttamchandani shares the financial solutions that interest him the most for SMEs.
Special thanks this week to the International Finance Corporation Jessica Schnabelwho recommended that we speak to Osakwe, and Mary Ellen Iskenderian of the Women’s World Bank. the Hidden Economy of Remarkable Women is a Foreign Police podcast made possible with funding from the Bill & Melinda Gates Foundation.
About the Hidden Economy of Remarkable Women (HERO):
Could empowering women in the workplace be the easiest way to drive the global economy into motion? Host Reena Ninan interviews women around the world who are changing the status quo in surprising ways to better their lives, their families and, ultimately, the world. The Hidden Economics of Remarkable Women (HER♀) is a foreign policy podcast supported by the Bill & Melinda Gates Foundation.
HIS♀ listeners can learn more about these topics by signing up for special access to an FP Analytics guidance note on gender equality. Register by clicking here. See all episodes
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