IOU Foundation Supports En Via and its Microfinance Project with Women in the Tlacolula Valley of Oaxaca

IOU Foundation gives a grant to Fundación En Vía which is a non-profit organization located in Oaxaca, Mexico. They are committed to supporting social and community development through the combination of three main programs: microfinance, responsible tourism, and education. En Vía uses microfinance in order to provide financial tools to self-employed women living in the Tlacolula Valley of Oaxaca.  The microloans are completely interest-free, thanks to the funds channeled from responsible tourism into the microfinance program.

Loans are made exclusively to women in groups of three which allows lending to women with little or no credit history. In addition, borrowers must complete 8 money and business management classes before receiving the first loan.

En Via works with about 300 women in the Tlacolula valley who run a variety of businesses from weaving tapestries, to raising chickens, to managing store fronts, and more.