Small Business and Financial Services
Small Business and Financial Services
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Economic Empowerment
Economic Empowerment
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2X Women's Initiative
2X Women's Initiative
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Portfolio for Impact and Innovation
Portfolio for Impact and Innovation
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Challenge

Almost two million people in India are homeless and many more live in substandard housing. Women are particularly challenged to access affordable mortgages due to a gender credit gap.

Solution and Impact

Local currency financing of 350 million Indian rupee is helping mortgage lender Aviom provide approximately 1,200 home loans to women in India. Aviom, which serves women borrowers in predominately rural areas, provides loans in an average amount of $4,000. Many of the women served by Aviom work in the informal economy, have undocumented income, and would otherwise not be able to access home financing. Affordable mortgages enable women to build homes they could otherwise not afford and establish a credit history.

Women’s economic empowerment is core to Aviom’s mission and operations, advancing DFC’s 2X Women’s Initiative. In addition to helping close the gender credit gap, Aviom was founded by a female entrepreneur and is managed by a majority female board. Aviom’s innovative sourcing model, known as Aviom Shakti, also creates quality employment opportunities for over 13,500 women—with plans to add 10,000 more—who serve as referral agents for Aviom loans and earn commission.

Further, DFC’s investment advances its Portfolio for Impact and Innovation (PI2), which aims to bridge the financing gap for early-stage social enterprises with innovative solutions, such as Aviom’s Shakti model, to challenges facing the developing world.