This Indonesian Bank Puts Financing for Women on the Menu

Original source: International Finance Corporation

Reni Rusmiati’s Indonesian tofu production factory had all the makings of a successful business: tasty food that cultivated a following, and Rusmiati herself, a dedicated entrepreneur with talent and enthusiasm. But in 2015, when Rusmiati ran out of beans—and ran into trouble finding capital that would allow her to keep cooking the tofu that her customers clamored for—she thought that the factory’s days were numbered.

The missing ingredient? Credit. It was hard for a small or medium-sized enterprise (SME) owner to access financing, especially if that owner was a woman.  This is true despite the fact that many small businesses in Indonesia, as in much of the developing world, are run by women.

Seeing this gap between the need and the potential of women entrepreneurs in Indonesia, BTPN Syariah Bank created programs specifically tailored to Indonesian women borrowers like Rusmiati. In addition to financing and services like digital banking to remote communities, the bank focuses on providing extensive non-financial services such as training in e-commerce and business skills.

Read more here.

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