As microenterprises grow, so do their financial and non-financial needs. Entrepreneurs may eventually need larger loans than microfinance institutions (MFIs) typically offer. To respond to the demands of clients that are transitioning into the small business segment, many MFIs, especially in Latin America and the Caribbean, have undergone upgrading and upscaling in order to provide a wider range of financial products and services. However, even though MFIs have a significant number of female clients in their portfolios, their upgrading and upscaling processes rarely integrate a gender focus and thus lack a value proposition tailored to that growing client base. Hence, this article seeks to open the discussion on how MFIs can implement successful upgrading and upscaling processes by recognizing the key opportunities presented by their largest market: women entrepreneurs.