Microfinance opportunities
We support microfinance initiatives that help aspiring business owners who, because of their circumstances, are otherwise unable to access mainstream financial services.
Many Rivers Microfinance
Westpac have proudly supported Many Rivers since 2009
Many Rivers assist Australians, particularly those in remote and regional areas who are experiencing hardship or are financially excluded, to establish their own micro businesses.
Clients are provided with intensive business mentoring and coaching from Many Rivers' Micro Enterprise Development Managers (MEDMs), access to Westpac’s Davidson Institute and unsecured microfinance business loans, to help set them up for long term success.
The success of the Many Rivers model is evident in the high proportion of businesses that continue to thrive. This success has led to the expansion of Many Rivers’ services into new regions since our support commenced in 2009
Thrive Refugee Enterprises
Our partnership with Thrive Refugee Enterprises supports refugees and asylum seekers looking for microfinancing and business support to start and grow viable new businesses.
Thrive provides extensive and ongoing business mentoring and planning for clients, helping them build an understanding of Australian business laws and regulations and the operational requirements of a managing a small business.
Since commencing operations in 2017, Thrive has:
- Supported over 1,000 clients to find new employment opportunities including funding 184 business loans for new or expanded business opportunities.
- Helped clients write over 500 business plans.
- Leveraged the skills of Westpac Group employees, each sharing their time to build the capacity of clients to effectively establish and operate a business.