Impact
Financing the Real Economy
Across Emerging Markets
AGC believes that access to reliable working capital is essential to building resilient local economies. Our mission is to support inclusive economic growth by financing the small businesses that drive employment, commerce, and opportunity across emerging markets. We seek to generate long-term competitive financial returns for investors and measurable positive social impact in local communities around the world.
Advance Global Capital’s four impact goals are financial inclusion, SME job creation and revenue growth, strong financial ecosystems, and more economic opportunities for women. Environmental, social and governance (ESG) considerations are integrated throughout our investment process to generate measurable positive impact and reduce risk.
We promote our impact objectives by delivering flexible capital to small and medium businesses (SMEs) in underserved markets and work providing tailored financing to non-bank financial institutions. We target regions where we can have a lasting impact because the SME community is underserved by financial services and shows potential for growth. By working with non-bank financial institutions to establish rigorous lending practices and offering competitively priced funding we develop local capacity, stronger financial ecosystems and lasting financial inclusion.
2026 Impact Report
AGC’s annual Impact Report explores how working capital financing supports small businesses across emerging markets – and why access to liquidity remains critical to sustaining jobs, local commerce, and economic resilience.
The report highlights AGC’s cumulative impact since inception, including more than $9.1 billion in financing facilitated* across 68 countries, supporting over 76,000 SMEs* and an estimated 3.6 million jobs** globally.
It also examines the growing role of women-led businesses across our portfolio, the resilience of SME ecosystems during periods of uncertainty, and the measurable outcomes generated when capital continues flowing through local economies.
We are grateful for the opportunity to partner with investors, financing institutions, and entrepreneurs worldwide to support the businesses that form the backbone of emerging markets.
*AGC and financing partners’ activity since inception through December 31, 2025.
**AGC estimate based on the latest impact survey multiplied by the number of entities as of March 2026. Please see the Methodology section in the 2026 Impact Report for full details.
Measuring Our Impact
We are committed to rigorous qualitative and quantitative measurement of the size and quality our funding has in the communities in which we operate.
Gender-based approaches are integrated throughout the lifecycle of our investment process – from the choice of the underlying financial instrument, which does not require collateral, to the way we recruit and mentor our own team, to how we source deals and promote and engage with our partners around the globe about the potential of investing in women. We lead by example with our partners – and actively promote inclusive business practices to ensure continuity of businesses led by women – and other underserved groups. Details on how we operationalize a gender-lens approach in our investment process are included in our Environmental, Social, Governance, and Impact (ESGI) Policy.
$5 trillion
SME financing gap in developing economies.*
600 million
The number of new jobs needed over the next 15 years to absorb a growing global workforce.**
9 out of 10
International Finance Corporation estimate for new jobs in the developing world for which SMEs are responsible.*
68
Days suppliers wait to get paid, globally. In emerging markets, they can wait 90 days or more for payment.***
Supporting the Backbone of Local Economies
Small and medium-sized businesses (SMEs) form the backbone of local economies in emerging markets, but remain among the most underserved segments of the financial system. Limited access to reliable working capital constrains their ability to maintain payroll, purchase inventory, manage cash flow, and grow sustainably. That’s where AGC comes in.
We provide tailored financing to local financial institution partners who then deliver flexible, inclusive working capital to SMEs.
* MSME Financing Gap. International Finance Corporation, 2017 (and updated in 2018/2019) https://www.smefinanceforum.org/data-sites/msme-finance-gap.
** World Bank Group. Jobs and Development. April 2019. https://www.worldbank.org/en/topic/jobsanddevelopment/overview
*** Navigating Uncertainty: PwC’s Annual Global Working Capital Study 2018/19. Days Payable Outstanding was 67.7 in 2017. https://pwc.com/gx/en/working-capital-management-services/assets/pwc-working-capital-survey-2018-2019.pdf
Alignment to Global Sustainability Standards
We measure key social metrics as defined by Impact Reporting and Investment Standards (IRIS) with a particular focus on job growth and financial inclusion for women. Our investment process takes an integrated approach to achieving our ESG objectives including the avoidance of fossil fuels and compliance with the International Finance Corporation’s Exclusion List. We are closely aligned with United Nations Sustainability Goals 5, 8, 9 and 10, are members of the Global Impact Investing Network (GIIN), signatories to the UN’s Principles for Responsible Investing (PRI) and a member of the Impact Management Project Practitioner Community.
Businesses Behind the Numbers
1AGC and financing partners’ activity since inception (cumulative).
2AGC survey conducted in the first half of 2026. N=247 (35 FI Partners and 212 SMEs). Data reflects outcomes reported from 2025 unless otherwise noted.
3AGC estimate based on latest impact survey multiplied by number of entities as of the time period noted. Please see Methodology chapter for full details.
4Average from AGC surveys conducted in the previous 9 years