MicroCredit Solutions Fund
(www.genevaglobal.com or +1-866-743-6382)
In 2005, Geneva Global formed the multimillion dollar MICROCREDIT SOLUIONS Fund so donors could support microloans
quickly and efficiently. The pooling of donor funds allows
donors of even modest mounts to participate in unique
microcredit opportunities, while larger donors may designate
their funds to specific microcredit projects within the fund.
The fund benefits from Geneva Global’s worldwide access to
projects and its professional research and oversight.
Microcredit Clearinghouse
(www.microcreditclearinghouse.org)
The Microcredit Clearinghouse maintains descriptions of
approximately 50 excellent microcredit-related projects available through various microcredit organizations. It was formed
to find philanthropic opportunities for foundations and individuals
willing to share information they gather. Anyone
desiring to fund projects costing more than $100,000 may
access this restricted Web site to obtain specific information.
Microcredit Providers
More than 3,000 microcredit providers are working in nearly
every corner of the world, from remote villages to urban
slums. This list is a sample of the variety of organizations and
not an endorsement of any of them. Lesser known grassroots
organizations may be even more efficient than some of the
large groups listed below. Other microcredit providers may be
found by using the resources shown in organizations.
ACCION International
(www.accion.org or +1-617-625-7080)
This is one of the largest microcredit providers in Latin
America, the Caribbean, the United States, and parts of
Africa, with partners in 22 countries. ACCION offers group
lending as well as individual loan programs. It was one of the
first to set up a formal bank to make loans to poor people
rather than lending through a nonprofit service organization.
Creating formal financial institutions is now a major trend in
the microcredit movement.
ASA
(www.asabd.org)
Started in 1978 to provide microloans in Bangladesh and technical
assistance to microloan organizations in other countries,
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ASA has more than 2 million borrowers who are primarily
impoverished, landless laborers and marginal farmers.
CARE
(www.care.org or +1-800-521-2273)
A leading humanitarian organization fighting global poverty,
CARE places special emphasis on working alongside poor
women because, equipped with the proper resources, women
have the power to help whole families and entire communities escape poverty.
Esperanza
(www.esperanza.org or +1-425-451-4359)
Esperanza focuses on long-lasting solutions for families through
microcredit, education and business training, vocational training,
and health services. The organization works with community
members, using culturally appropriate methods, such as baseball.
Its activities are currently located in the Dominican Republic.
FINCA International
(www.villagebanking.org or +1-202-682-1510)
Launched in 1984, FINCA International provides microloans
and related services through village banks in 21 countries
throughout Latin America, Africa, and the newly independent
states of Eastern Europe and Central Asia. FINCA serves people
at all levels of poverty and has developed expertise in helping
entrepreneurs in areas that are emerging from conflict.
Fonkoze
(www.fonkoze.org or +1-888-921-5726)
Fonkoze is a Haitian foundation that supports the organized
poor, providing them with essential banking services and assisting borrowers with literacy, business training, and health education.
Fonkoze USA is the American nonprofit that assists
Fonkoze in its work. Established in 1994, Fonkoze currently
has over 90,000 depositors, more than 30,000 borrowers, and
26 branch offices in Haiti.
Freedom from Hunger
(www.freefromhunger.org or +1-800-708-2555)
Established in 1946 to fight hunger with innovative self-help
programs, Freedom from Hunger has, since 1988, developed
an integrated microloan, health, and nutrition program. Its
Credit with Education program serves more than 350,000
families in some of the poorest countries.
Grameen Bank
(www.grameen-info.org)
Grameen Bank is one of the earliest microloan organizations
and remains a microcredit leader. Founded by Professor
Muhammad Yunus in 1976, it has 6.61 million borrowers,
97% of whom are women, with loans averaging less than $200
each. Grameen Bank’s activities are concentrated in
Bangladesh, but the organization is active in other countries as
well. The Grameen Bank model favors a group lending
methodology where members guarantee each other’s loans.
Grameen Foundation
(www.grameenfoundation.org or +1-202-628-3560)
Grameen Foundation replicates grassroots lending programs
using the Grameen Bank model. The organization helps serve
2.2 million borrowers and partners with 52 microfinance institutions
in 22 countries. It seeks financial gifts, volunteer help,
expertise, and contacts. Contributions can be directed to
microloan programs in any country where it works. Its
Grameen Technology Center develops innovative technology
to provide new opportunities for the poor. This organization
was formerly named Grameen Foundation USA.
HOPE International
(www.hopeinternational.org or +1-717-464-3220)
HOPE International is a Christian nonprofit organization
focused on building microfinance institutions in some of the
most challenging environments in Africa, Asia, Eastern
Europe, and the Caribbean. HOPE offers opportunities for
short-term trips for donors to experience the effectiveness of
microfinance firsthand. HOPE also focuses on the next generation
of entrepreneurs through youth-focused business
training, and actively partners with local churches. (Note: several
other unrelated organizations have similar names.)
MEDA
(www.meda.org or +1-800-665-7026)
Mennonite Economic Development Associates, or MEDA,
offers financial services to the poor as an expression of the
Mennonites’ long tradition of Christian social action. MEDA
provides business-oriented economic development programs,
including microcredit.
Opportunity International
(www.opportunity.org or +1-800-793-9455)
A global network of partner organizations, Opportunity
International raises funds and implements microfinance programs
for poor entrepreneurs in the developing countries of
Latin America, Asia, Africa, and Eastern Europe. It popularized
a group-lending methodology that it calls trust banks. Its
programs provide small business loans, training, counsel, and
other financial services. While it is one of the longest established
microcredit organizations, dating from the 1970s, it is
also one of the most progressive. It was one of the first to set
up lending programs in Eastern Europe as well as sophisticated
investment options for supporters who wish to loan as
well as donate money. In 2007 Opportunity expects to be serving
1 million clients in more than 30 countries.
SKS Microfinance
(www.sksindia.com)
SKS empowers the poor through microloans and other microfinance
services. It concentrates its activities in certain states
in India and hopes to reach a milestone of 700,000 clients by
March 2007. SKS is growing very fast and is a leader in technological
innovation and operational excellence.
Unitus
(www.unitus.com or +1-888-286-4887)
A nonprofit organization taking a hybrid approach to fighting
global poverty, Unitus uses strategies from the venture capital,
investment banking, and strategy consulting industries. It
partners with emerging microfinance institutions (MFIs),
structures investments for them, provides consulting services,
and exits when its partners achieve scale and capacity to grow.
Women’s World Banking
(www.swwb.org or +1-212-768-8513)
Women’s World Banking supports member organizations that
offer direct services to impoverished women. It helps affiliates
succeed as microfinance institutions and change agents by
providing tailored, integrated service in the areas of technical
programs, financial products, policy change activities, and
linkages and learning projects.
World Concern
(www.worldconcern.org or +1-800-755-5022)
A Christian humanitarian organization that provides emergency
relief and community development in underdeveloped
countries, World Concern helps more than 2 million people a
year with disaster relief, job training, and microcredit.
World Relief
(www.wr.org or +1-800-535-5433)
World Relief began in the 1940s as the relief and development
arm of the National Association of Evangelicals of the United
States. The organization usually operates its programs in partnership
with evangelical churches overseas. World Relief provides
both disaster relief and development programs.
Microcredit is one of its core development interventions.
World Vision
(www.worldvision.org or +1 888-511-6548)
A Christian humanitarian organization dedicated to working
with children, families, and their communities, World Vision
is well known for helping children by asking donors to directly
sponsor them. In 2005, it made $169 million in microloans
in 47 countries. Through its VisionFund, it uses sophisticated
financial mechanisms to expand resources available for
lending.