Access to capital remains one of the biggest barriers for micro- and small-scale entrepreneurs in low-income African communities. Traditional banks often require collateral, have high interest rates, or complex paperwork that early-stage businesses can't meet.
At Somo, innovative financing pathways for underbanked entrepreneurs powered by an alternative credit scoring system that provides a comprehensive assessment of creditworthiness.
Impact
Fundings Deployed
Businesses Funded
Jobs Created
How it Works
Through Somo’s loan funds, we provides flexible, low-interest loans to entrepreneurs in East Africa. These loans have:
- Non-commercial terms: Impact-driven, not profit-rates, approach.
- Alternative credit scoring: Decisions based on social, impact and financial data not traditional collateral.
- Tailored terms: Aligned to each business model.
Our Finaning Partners
