Seven of Australia’s leading philanthropic organisations have come together to launch the country’s first philanthropic lending facility dedicated to refugee entrepreneurs.

The initiative is designed to help refugees start and grow businesses in the critical early years of resettlement.

Among the funders are the Minderoo Foundation, Paul Ramsay Foundation, Snow Foundation, The Wyatt Trust, the Siddle Family Foundation and Alberts/The Tony Foundation.

The $4.1 million philanthropic lending facility will expand access to loan capital for refugee-led businesses, with a particular emphasis on financing women-led enterprises.

Seven of the country’s leading philanthropic foundations back a landmark social impact initiative to fast-track refugees into small business and employment —

The initiative was launched recently in Western Sydney Dr Andrew Charlton, Cabinet Secretary, Assistant Minister for Science, Technology and the Digital Economy, Member for Parramatta, and Thrive Refugee Enterprise, Australia’s leading not-for-profit dedicated to refugee economic participation.

Thrive Co-Founder and Chairman Huy Truong said: “We are so proud to have seven of Australia’s most respected philanthropic foundations come together to launch Australia’s first impact capital facility to empower refugees.”

“This facility highlights the belief these investors have in the economic potential of refugees, and women refugees in particular. This belief was not a hunch or a hope, rather it is underpinned by rigorous due diligence of Thrive’s operations, governance and track record for refugee business outcomes.

“We are humbled by this support and look forward to deploying this capital to empower hundreds more refugee businesses and in due course, deliver the social and financial returns. I hope this will be the first of many facilities in years to come and for social investment capital to be a core part of the economic pathway to rebuilding refugee lives successfully,” Mr Truong said.

Minderoo Foundation CEO John Hartman said: “Inclusive access to finance is essential for refugees, asylum seekers and migrants to fully participate in the economy. We are proud to deepen our partnership with Thrive Refugee Enterprise through this multi-lender impact facility – expanding access to capital, accelerating business growth, and ensuring women-led enterprises across the community can fully realise their potential.”

Snow Foundation CEO Georgina Byron AM said: “This facility represents exactly the kind of bold, collaborative philanthropy we need more of in Australia. The gender lens is central to why this investment resonates with us, with formal targets to expand lending to women, reduce barriers like collateral requirements, and build financial confidence among female entrepreneurs. When funders align around shared values and commit to long-term outcomes, we start driving real systemic change.”

Paul Ramsay Foundation CEO Professor Kristy Muir said: “This investment will provide refugees across Australia access to capital and wraparound support services, so they have opportunities to build wealth, get ahead, and make their own economic choices. We’re proud to invest in this innovative facility alongside our peers and we hope lessons from this approach can impact more impact investment and types of finance for social purpose organisations.”