Microfinancing for refugee entrepreneurs
Challenge
In the UK, refugees – especially those with entrepreneurial projects – face barriers to accessing financial services. Despite high demand for tailored support, banking regulations and documentation gaps mean refugees struggle to secure funding for their businesses.
Solution
Skylight Ventures will scale up the UK’s first interest-free microfinance initiative for refugee entrepreneurs, to strengthen an inclusive funding ecosystem that is tailored to the needs of refugee founders at every stage of their business development.
Impact
Through activities including enhanced access to funding, advocacy with existing financial providers to increase financial opportunities, and financial literacy training, up to 13 refugee entrepreneurs will be empowered to advance their businesses and more effectively contribute to their host communities.