The Global Micro Lending Initiative:

"The only place poverty should be is in... museums."
-Muhammad Yunus, 2006 Nobel Laureate

Global Micro Lending

GML Resource Hub

Information and resources related to micro-lending, micro-loans, micro-investment, social finance, and peer to peer lending.

GML Mission Statement:

Everyone deserves access to a financial system which is fair, safe, and transparent. GML's mission is to foster connections between organizations which provide microlending and microfinance services.

Military Microloans

American soldiers and veterans are working on both sides of the alternative lending market. Through online lending platforms, a soldier in battle, overseas, or even retired can receive financing to support their families, businesses, or themselves. They are given the chance to establish and are encouraged to maintain a good credit standing. They have also been given the authority to distribute loans. Specially selected active duty members and their units are issuing grants to help local communities who are negatively impacted by war. The convenient access to online financing and free financial education guides soldiers to learn good financial behavior.

Being an active duty military member or a reservist requires plenty of organization, especially when it comes to finances. Military service is 24/7, leaving little time for mundane activities like paying bills. Lenders offer active duty military loans to service members when they need cash fast. American troops are given an opportunity to stabilize their finances, even from the battlefield. As for military families, a military loan for spouses can finance any unexpected personal expense. When they or their loved ones are stationed away, these useful credit sources can offer financial relief in the most hectic times.

Becoming a microinvestor is a modern military mission appointed to some soldiers. Under a U.S. Government program started in 2003 called Commander's Emergency Response Program, or CERP, local ground commanders in Afghanistan and Iraq are given the responsibility to choose how and where to distribute billions of dollars in microgrants. The operating budget comes from seized cash plus specially allotted U.S. funds. CERP requires military issuers and microgrant recipients to pass business centered mentorship and skill intensive programs before distributing or receiving any money. Selecting which investment will best improve a community's development is a major decision faced by these newly appointed "micro investors". The U.S. Armed Forces inadvertently has become a microfinancial institution and has employed its troops as microlenders.

Veteran based microloan programs and microlender options have been set up to make a soldier's reintegration into society a little easier. After all, returning to civilian life and entering the job market can be a challenge for a newly retired military member. Both active duty military members and veterans can get a military loan to finance tools or equipment for a construction company or a vacation for some quality family time. With the financial knowledge acquired during their service, some of these CERT program commanders are well versed on how microfinancing works. A veteran small business loan provides credit and financial services to build or expand veteran owned businesses. Also, social funding platforms are beginning to pop up that exclusively connect veteran lenders to veteran borrowers. In the U.S. financial regulators are adding more legitimacy to the military finance community by recently approving military based small business loan providers who exclusively offer services to military members, veterans, and their families.

All together, the lending programs being offered to the under-served military market helps soldiers provide for their families, enjoy future credit opportunities, and contribute to their overall financial success. A loan for military personnel, veterans, and military families can stabilize household finances, kickstart a small business, or finance any purchase.