Huma and Jia partner to provide DeFi lending to small businesses in emerging markets, bridging the $5 trillion credit gap and creating new opportunities for entrepreneurs. This partnership kickstarts the mission of making DeFi accessible to the 99% and aims to build a more inclusive and fair financial system globally.
Jia launched their real-world lending solution on Huma, providing small businesses in emerging markets with the necessary working capital to grow and thrive. By enabling small businesses to access capital, Huma and Jia are creating new opportunities for entrepreneurs in emerging markets, a crucial step towards building financial freedom globally.
Jia partners with trusted local networks to provide revenue-backed loans to small businesses in Kenya and the Philippines. Take, for instance, the case of the medical clinic Ilara Health. This clinic relies on short-term capital to procure supplies in advance, distribute them to patients, and collect payments within a week or two. Without affordable financing, they would face difficulties in acquiring sufficient medical supplies to effectively serve their community. Jia's provision of inventory financing and supply chain financing enables medical clinics, as well as consumer goods retailers, food and beverage manufacturers, corporate cab drivers, and mobile money agents to access the working capital they require. Furthermore, Jia empowers other small businesses, such as street vendors through SasaPay and schools via Jackfruit Finance, to enhance their operations and generate a positive impact in their respective communities.
Huma and Jia share the belief that financial opportunities should be accessible to everyone across the globe. Currently, there is a massive $5T credit gap for funding small businesses in emerging markets. Jia will provide the much-needed capital to business owners to grow their businesses, which is not only good for these entrepreneurs but for their communities and the economy as a whole.
"By enabling small businesses in emerging markets to access DeFi lending, we are not only helping entrepreneurs grow and thrive, we are also building a more equitable global economy. Jia is proud to partner with Huma on the mission of global financial freedom." - Zach Marks, Jia.xyz CEO
Jia also addresses the common issue of an unequal power dynamic between lenders and borrowers by creating a community ownership program. Borrowers are rewarded through tokens when repaying their loans, providing them with real ownership in the very system from which they are borrowing. This further creates loyalty from the borrowers' side to repay the loans.
Currently, traditional finance does not offer the infrastructure to make these services a reality. By partnering with Huma Finance, Jia now has the blockchain-enabled infrastructure to enable these lending services and the community ownership program.
“We're proud to partner with Jia. Together, we are bringing the benefits of DeFi to the 99%, and making it accessible to anyone with a mobile phone. With this partnership, we're taking a big step towards creating a more inclusive and fair financial system for everyone, giving power back to borrowers and helping bridge the $5T credit gap that exists in emerging markets." - Erbil, CEO of Huma Finance
The first $100k investment opportunity from Jia is fully subscribed by investors Not Boring Capital, Canonical Crypto, Flori Ventures, and Compa Capital. However, the team is planning to launch another $150k opportunity soon. To see all details visit the Huma dApp.
Register your interest with zach@jia.xyz and erbil@huma.finance.
About Jia: Jia is expanding financial freedom across the globe. Jia provides blockchain-based financing to small businesses, then rewards borrowers who repay with ownership, enabling them to create wealth and prosperity for themselves and their communities. Learn more https://www.jia.xyz/.
About Huma Finance: Huma Finance is an income-backed DeFi protocol for the 99%. It enables businesses and people around the world to use their income and receivables as collateral to borrow against. Learn more https://huma.finance/.