What is MMI?
The Melbourne Microfinance Initiative (MMI) is the first and largest Australian student-run microfinance organisation providing consulting services to microfinance institutions globally with a vision of having a direct impact on communities in need. We hope to empower individuals to create social change.
What is Microfinance?
Microfinance is type of banking service that is provided to unemployed or low-income individuals or groups who would otherwise have no other means of gaining financial services. Ultimately, the goal of microfinance is to give low income people an opportunity to become self-sufficient by providing a means of saving money, borrowing money and insurance.
What we do
The People We Impact
This little girl was the first child of a young woman in her 20s. In the past ten years she has managed to take out 3 loans from microfinance organisations and managed to ramp up her garment production by 5 times.
Maria is a successful small business owner. SheÂ is the primary earner for her family and runs a small roadside shop in the village of Terra-Santa. She supports a household of 9 and pays for the education of her brother and children.Â Â
Minga is the primary earner for a household of 10 and is raising 6 children not of her own, all while earning less than $2 a day without access to conventional financial services. She sells bananas in the village of Comoro.