Throughout its 14 years of operation FINCA Afghanistan has demonstrated a commitment to serving the people most in need of financial inclusion. Thank you FINCA, Jan_49 With its headquarters in Managua, the institution now covers all regions of the country. In addition to credit, clients receive training on how to manage their finances and grow their businesses. I'd been giving for the last two years, but will refrain from giving more until they get these costs under control. 09/11/2019. When so much government aid can go astray it's great to know that money (from FINCA) is getting into the hands of the people who can really use it to transform their societies one small step at a time. Peter20 I am disappointed to see that administrative costs have jumped substantially, which has directly impacted the % going to programs. That's what we like to do. 01/25/2012. Over 80,000 people earn their livelihoods from businesses financed by FINCA Bank Georgia. The institution has emphasized reaching out to those most in need of financial inclusion. Give Now I like to hear about women being able to see their creativity and drive benefit their families. I haven't donated to FINCA since I saw a financial statement several years ago. FINCA acquired the organization in 2013, using its wealth of experience and robust business operations to spur growth. Non-profit organizations based in Washington, D.C. Creative Commons Attribution-ShareAlike License, This page was last edited on 15 July 2020, at 00:36. Our products empower people to take control of their financial futures and build their financial health. Client Served 2011 marked a major milestone for the institution, as it transitioned from a non-profit to a regulated microfinance institution. 10,770 pageviews, Share this Nonprofit BrightLife has impacted over 100,000 lives in Uganda with clean energy. kalismom Their whole focus seems to have changed. 2a, Agatangeghos Str. Geographic areas served: FINCA International programs and investments impact lives in 35 countries around the world. FINCA Guatemala first offered individual loans in 2008 and launched SME loans in 2013. It is presumptuous to assume that âadministrative expensesâ are all âoffice paper- pushingâ. Donor 9, Jabbor Rasulov Street FINCA Nigeria launched agency banking in 2016 through FINCA eXpress, a third-party service delivery model. Our clients can now manage savings, credit, payments and remittances all in one place. With total loans disbursed in excess of $1 billion and total voluntary savings approaching $400 million, FINCA clients use small loans, savings accounts and other responsible financial services to build small businesses, create jobs and invest in their futures. My husband and I returned home to the US feeling proud to be supporters of FINCA and motivated to continue our support. Professional with expertise in this field FINCA Ventures portfolio companies collectively impact more than 2 million lives. FINCA Afghanistan launched in 2003 to help the country recover from war and political instability. Founded on the principle that all people should have access to financial services, the bank set about providing microcredit to low-income borrowers with no collateral requirements—providing entrepreneurs with capital to expand their businesses. 22 & 23 | 4th floor The stories they share about the clients who achieve incredible things with small loans, or access to their financial services is really inspiring. It operates a wide-ranging training program aimed at ensuring clients and the wider public have the knowledge and skills needed to make informed financial decisions and effectively manage their businesses. FINCA's structure makes it very difficult to compare to other microlenders. 2. Since launching a single office offering village banking loans in Lusaka, FINCA Zambia has grown into a full-fledged microfinance institution (MFI) serving more than 17,000 clients with financial services including credit, savings, payments and money transfers. FINCA Guatemala and early-stage fintech companies together to expand financial inclusion. Not only does FINCA provide help and support for so many people around the world, they are also a pleasure to work with! In addition to loans, it offers national and international money transfers and financial literacy training. Angela S.9 Donor In 2016 FINCA Uganda further digitized its operations by launching credit scoring, a method of analyzing loan applications that enables faster loan processing times and more efficient outcomes for clients. JaniDew While I totally agree with their goals, I have a problem with internal costs. Amman 11821 Jordan I have worked with FINCA for many years and they go above and beyond. Since then, the microfinance institution has continued to develop innovative financial products and services while delivering a double bottom line of profitability and positive social impact. Like others on this review, I agree that the administrative costs, particularly for the director, have become excessive. FINCA is the innovator of the village banking methodology in microcredit and is widely regarded as one of the pioneers of modern-day microfinance. With support from USAID, the microfinance institution opened its doors to advance the mission of expanding financial inclusion to help individuals, families and communities recover from the war. FINCA Georgia began operating in 1998 as a microfinance institution offering financial services to small- and medium-sized business owners. FINCA DRC launched in 2003 while the Democratic Republic of the Congo (DRC) was still suffering from an armed conflict. More than two-thirds of FINCA Tajikistan clients live in rural areas. Telephone In 2018, the institution expanded its digital offering with the launch of FINCA Mobile. The institution currently offers a range of credit and savings products—in addition to credit and savings products, it now provides money transfers and micro-insurance. I fully support this wonderful organization and the folks who work tirelessly to make it a success! The branch has contributed to financial inclusion by reaching out to women on their terms and creating a space for women entrepreneurs to share experiences and opportunities. I receive emails every two or three days with stories about how microfinance through this organization has changed specific women's lives. 1201 15th Street, NW, 8th Floor Professional with expertise in this field So for both, the overhead percentage of the umbrealla is grossly distorted upward. To date, BrightLife has impacted more than 100,000 lives with energy products that create healthier and safer homes, increase productivity, reduce household expenses and provide additional income-generating opportunities. FINCA Haiti is devoted to serving the people most in need of responsible finance. Twitter, Causes: In 2016 FINCA Kosovo received Smart Certification for its long-standing and sustained commitment to upholding the Smart Campaign’s seven Client Protection Principles for responsible banking, which include: appropriate product design and delivery; prevention of over-indebtedness; transparency; responsible pricing; fair and respectful treatment of clients; privacy of client data; and mechanisms for complaint resolution. Operating from an office in Yerevan with an efficient team of dedicated employees, FINCA Armenia provided small loans to farmers and small business owners. Also, for those that are troubled by FINCA's overhead expense numbers, these are distorted much in the same way Accion's are. Over the next three decades, FINCA Haiti gradually expanded to serve clients throughout the country with both village banking and individual loans. 93/2 Shopokov Street Advisor 0160 Tbilisi, Georgia Clients can also receive support from the organization’s Contact Center. They can build their own infrastructure and develop their own businesses. 09/16/2019. NKYA In 2017, FINCA Microfinance Bank Limited became the first microfinance bank in Pakistan to receive SMART certification, a recognition of its long-standing commitment to robust client protection principles. The institution offers a range of responsible financial services specializing in individual, group and business loans. Adapting to the needs of a growing market, FINCA Ecuador now provides individual and group loans as well as savings products and money transfers. 2nd Floor, Suite 201-210, Foxdale Court, OR 11/17/2011. FINCA DRC steadily expanded to serve a growing Congolese market. 05/26/2010. FINCA Haiti offers four primary credit products: village banking loans; individual loans; small- and medium-enterprise loans; and agriculture loans. Tegucigalpa, Honduras The institution now serves Dushanbe as well as the northern and southern regions of the country. In order to increase its reach and better serve its clients, the institution has taken steps to digitize its offering of financial products and services. All of their decision are based on getting to know their clients, what their real needs are, and careful data collection and analysis. not what good my contribution is doing. Scott Reed 36-B, Khayaban-e-Iqbal In 2012, the Bank of Zambia issued FINCA Zambia a license to take deposits. I think FINCA does a good job of getting money to the right people. It also launched group and individual loan products and savings accounts during its first year of operation. We are re-engineering and streamlining our credit and customer service processes to lower costs and to make it easier for clients to do business with us. Or improve their ROI by being able to hire more staff or buy more land to increase their crops' yields. Operating under the slogan “Small Loans Big Changes,” FINCA Georgia opened its first branch in Tbilisi, serving primarily women clients and their families with group loans. International, ⢠FINCA Forward: An innovation platform bringing microfinance institutions Plot No. FINCA Microfinance Bank Limited first launched in 2008 as “Kashf Microfinance Bank”, providing microfinance services from 13 branches in Pakistan. Email equaljusticeforallusa
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