Santa Clara, CA | 30 June 2025 — Miller Center Capital, the investment arm of Miller Center for Global Impact, has funded Altitud, a microfinance provider based in Monterrey, Mexico, as part of a larger financing round in partnership with impact investment manager Beneficial Returns. The funds will enable Altitud to grow its lending portfolio by 30% over the next year, helping more women launch small-scale garment businesses from their homes.
For more than a decade, Altitud has provided affordable credit to women who are starting sewing enterprises, which is often their first step toward financial independence. The organization offers loans to purchase sewing machines, along with business training and connections to commercial contracts through its sister company, Cricket Textile. Since its founding, Altitud has supported over 5,000 women in creating home-based businesses across the Monterrey metro area.
“Many of our clients are mothers looking for income that doesn’t pull them away from their children,” said Gabriel Rivera, Altitud’s founder and CEO. “This loan comes at a crucial time. With more working capital, we can meet the growing demand from women who want to build something of their own.”
In a region where many rely on low-paying factory jobs, Altitud’s model offers a different path that allows women to earn a living without leaving their homes. The organization reports that most borrowers see a meaningful boost in income—on average, around 22%—after launching their businesses. Altitud maintains a strong repayment rate, with 96% of borrowers repaying in full, and a vast majority reporting improved financial stability.
“Altitud is doing more than just offering credit—they’re helping women build viable businesses and reshape the local garment economy,” said Paul Belknap, senior director of Miller Center Capital. “Their approach helps women step into entrepreneurship while supporting a more ethical supply chain.”
The loan was made through the Innovation Fund, Miller Center Capital’s impact-first investment vehicle, which uses creative finance tools to support social enterprise graduates of Miller Center’s flagship accelerator. So far, the fund has invested $1.3 million across 13 enterprises and helped attract more than $10.3 million in follow-on capital, representing 7.7% leverage. To date, the Innovation Fund has raised $3.1 million, reaching 62% of its $5 million goal by September 2025.
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About Miller Center for Global Impact
For nearly 30 years, Miller Center for Global Impact has been a leader in advancing social entrepreneurship to end poverty and protect the planet. With a focus on climate resilience and women’s economic power, Miller Center accelerates social enterprises aligned with the UN Sustainable Development Goals. Based at Santa Clara University, the center blends the innovation of Silicon Valley with a deep commitment to social justice and global impact. Miller Center has supported more than 1,500 social enterprises across over 100 countries.
About Beneficial Returns
Beneficial Returns is an impact investment manager that finances social enterprises working to alleviate poverty and protect the natural environment. Founded in 2016, Beneficial Returns uses capital to catalyze systemic change in emerging markets. Headquartered in San Francisco, the firm brings together a diverse global team with experience across finance, social enterprise, and development.
Media Contact:
Karen Carter
Director of Marketing Communications
Miller Center for Global Impact
kcarter1@scu.edu
Investment Contact:
Paul Belknap
Director of Impact Investing
Miller Center for Global Impact
pbelknap@scu.edu
