This learning paper provides an update to the case study, “Developing Asset-Financing Products for Women Smallholders with a Community Bank in Tanzania,” included in the Experiences in Gender-Sensitive Solutions to Collateral Constraints learning paper published as part of the MEDA INNOVATE Learning Series in January 2020. In this paper, the potential for asset financing and non-conventional collateral to address the financial exclusion of people living in rural areas, smallholder farmers, and women in Tanzania is explored. For the purposes of this paper, asset financing refers to asset-backed lending where the asset being financed acts as partial collateral for the loan. Assets are essential to building wealth and resilience and asset financing has proved to be a valuable tool for low-income households to grow their businesses and incomes to access further economic opportunities. Research has shown that the majority of available financial products currently provided by financial service providers in the country do not meet the needs of consumers. Collateral requirements are a barrier for many low-income households and women in particular. Asset financing where the asset purchased can be pledged as at least part of the collateral guarantee addresses these collateral constraints.