Mojo is a non-profit fintech company that helps people start small businesses by providing micro-loans and financial assistance.
Mojo was founded in 2018 by two former bankers, after they saw firsthand how difficult it was for people living in poverty to get access to financial services. microloans are small loans that are typically given to people who do not have access to traditional banking services. Financial assistance can take many forms, but Mojo primarily provides micro-loans to help people start or grow their businesses.
As a result of Mojo's work, borrowers have been able to start or expand their businesses, create jobs, and improve their standard of living. For many of them, microloans have been life-changing. If you're interested in supporting Mojo's work, you can join us in our mission.
Mojo makes it easy to apply for a loan. Simply download the Mojo app and apply for a loan within 10 minutes.
In just two years, Mojo has helped over 10,000 people in 100+ countries start or grow their businesses.
Most loans are approved within one business day with funds transferred to the bank account of the applicant.
Mojo's micro-loans have an average interest rate of just 5%, and the company also provides guidance and counseling to help borrowers succeed.
To date, Mojo has provided microloans to over 3,000 people in 25 countries. The average loan size is $200, but Mojo also provides larger loans of up to $1,000 for more established businesses. In addition to microloans, Mojo offers financial education and coaching to help borrowers repay their loans and build credit.