Nepal's community forestry has adopted micro-credit as a major activity to provide additional benefits to women and the poor. The paper aims to investigate whether the micro-credit benefits women, as expected, and uses primary data of 84 community forest user groups from different five districts and 408 individuals who obtained loans from the community forest user group funds. It uses a questionnaire survey as an information collection instrument. The average value of loans received by an individual is Nrs 4,706 which is being invested in income and non-income generating activities. The paper concludes that women receive smaller value of loans, as compared to men. Moreover, poor women receive lesser value of loans than those of non-poor women. Women tend to invest higher percentage of loaned money to income generating activities, and tend to be younger and less educated as compared to men, implying there being a need to increase efforts to educate women.