The Deutsche Bank Start-Up Fund


To support early-stage, privately funded commercially oriented microfinance institutions.
The Deutsche Bank Start-up Fund seeks to identify start-up microfinance institutions in underserved markets with strong management. It provides flexible financing to support portfolio growth, and works to build governance and financing capacity.

Fund Size:



Direct loans, guarantees to local financial institutions.


Loans are issued in US dollars. The Start-up Fund is willing to share foreign currency risk with its borrowers, with interest and principal payments linked to a benchmark index.

Interest rates:

Rates on Start-up Loans are quite flexible. Loans are typically structured with a base rate, which may be set low if the institution is not yet profit-making. As it reaches sustainability, the rate adjusts based on 1) the level of net income, and 2) the relative share of the Start-up Loan in the institution’s capital structure. The maximum rate is capped at a pre-agreed level.


$25,000 to $100,000


Bullet Maturity


1-5 years.

To Apply:

For an application package, please email


The Start-up Fund is supported by the Deutsche Bank Americas Foundation and CORDAID, a Dutch NGO. Donations in any amount are accepted. Program Related Investments from foundations are welcomed, with terms to be discussed on a case-by-case basis. Interested donors or investors should email

The Deutsche Bank Start-Up Fund
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Last Update: January 12, 2015
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