named programs · 3 · from sources
What they call their work
Financial Guidance and Credit Building
Offers financial counseling and establishes credit history for borrowers through structured repayment plans with low interest rates and no legal penalties for default
Microloan Program
Provides microloans to entrepreneurs in developing countries for essential business commodities such as refrigerators, stoves, and meat saws to increase business sustainability and productivity
Partnership Network
Collaborates with local nonprofit organizations to identify qualified borrowers, distribute loans, and collect repayments through trusted community intermediaries
activities · 3 groups
What they do
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Small Business and Nonprofit Lending 4 activities
- Manage loan application and borrower assessment processReviews loan applications through an extensive process requiring details on business structure, peer recommendations, and repayment plans. Assesses business models to ensure sustainability before approving loans.
- Partner with nonprofits to distribute microloans and support borrowersCollaborates with nonprofit organizations and in-country point-people to inform communities about loan services, receive applications, distribute funds, and collect repayments. Includes partnerships such as with Clean Hands for Haiti to connect aspiring entrepreneurs to microloans.
- Provide microloans and financial guidance to small businesses in developing regionsLends microloans with low interest and no legal penalties for default to entrepreneurs in Central America, the Caribbean, Africa, and South Africa, particularly targeting small businesses with five or fewer employees. Loans support business sustainability through equipment purchases, vehicle repairs, and expansion of customer reach, with financial guidance integrated into the lending process.
- Reinvest loan repayments to sustain microloan fundingReinvests all collected loan interest and repayments back into the microloan fund to maintain a self-sustaining capital stream that supports ongoing lending activities.
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Shared Kitchen Incubator for Food Entrepreneurs 1 activity
- Operate small business demonstration sites to model entrepreneurial successDirectly operates small businesses including a butcher shop in South Africa selling pork, beef, and mutton; a fish shop and kitchen offering fresh vetkoeks, chicken livers, burgers, fries, and fish and chips; and previously operated a bakery in Khayelitsha, Cape Town. These sites serve as practical models for entrepreneurial development and use loan-funded equipment upgrades to improve efficiency and reduce waste.
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Uncategorized 3 activities
- Analyze financial technologies to improve money transfer systemsConducts analysis of current money transfer platforms, researches emerging technologies including cryptocurrency, and suggests improvements to enhance the efficiency and accessibility of financial services for underserved entrepreneurs.
- Conduct outreach and community engagement to expand lending programsIdentifies qualifying communities in South Africa and Pakistan, particularly in areas with high rates of misogyny, and partners with community centers and organizations such as the National High School Microfinance Coalition to expand outreach and recruit interns.
- Operate a single-chair barber shop in HaitiRuns a barber shop in Anse-à-Veau, Haiti, serving an average of five customers per day, as part of direct entrepreneurial operations to demonstrate viable small business models in underserved communities.
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financials · form 990EZ · fy2022
revenue
Total revenue$14K
Contributions & grants$14K100%
Program service revenue——
Investment income——
Other revenue—
expenses
Total expenses$1K
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits—
Grants paid out—
balance sheet
Total assets$13K
Cash—
Investments—
Liabilities—
Net assets$13K
1 years on record · 2022–2022
leadership · form 990 part vii · fy2022
Who runs it
board members · 3
- ALESSANDRA MOSES — DIRECTOR
- CHARLIE BERGER — DIRECTOR
- JONATHAN DAVIS — DIRECTOR
relationships · 9
Who they work with
- Clean Hands for Haiti Partner — Partnership to identify and support aspiring entrepreneurs in Haiti through microloans.
- Joissant Abellard Partner — Supported in operating and improving a barber shop in Anse-à-Veau, Haiti.
- Julia Maja Partner — Entrepreneur supported through a loan for her small business
- Kukhanye Bakery Partner — Hosted Nonkosi Vena's bakery business in Khayelitsha, South Africa.
- National High School Microfinance Coalition Partner — MyFi's first partnership, focused on youth engagement in microfinance and internship recruitment.
- Rosie's Soup Kitchen Partner — Collaboration with a community-based meal program providing weekly hot meals in Haiti.
- Simple Acts Big Impact podcast Partner — Platform where MyFi's founders discuss the organization's lending model and engagement opportunities.
- non-profit organizations Partner — Nonprofit partners serve as intermediaries by informing communities about MyFi services, receiving loan applications, distributing loans, and collecting repayments.
- nonprofit organizations Partner — Partners with nonprofit organizations that work closely with communities in the developing world to provide microloans.
strategies · 4
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Peer-Informed Lending with Accountabilitymethodology: peer-informed lending assessmentBy requiring peer recommendations and detailed business planning in the application process, we improve borrower accountability and loan success rates because social collateral and structured planning increase commitment and reduce default risk.
- Revolving Loan Fund for Sustainable Capitalmethodology: revolving_loan_fundBy recycling repaid loans into new borrower capital, we increase long-term funding sustainability and efficiency, because continuous capital circulation amplifies impact over time without requiring additional external funding.
- Root-Cause Financial Empowerment through Targeted Lendingmethodology: root-cause lendingBy providing credit and growth opportunities that address the root causes of small business struggles—rather than temporary fixes—we produce lasting economic resilience because sustainable capital access enables systemic change in underserved enterprises.
- Segmented Repayment to Reduce Borrower Burdenmethodology: segmented repaymentBy structuring repayments in segmented installments that allow overdue amounts to carry forward, we increase repayment consistency because flexible schedules reduce pressure and support long-term borrower engagement.