Wednesday, November 10, 2010

No flowers in this post - FINCA

Last night I attended the 2nd fundraiser for FINCA Canada. Here is a bit of information for those who may be interested  in a charitable group who do what they say and then find a way to do even more.

FINCA is a charitable organization that provides micro loans to women in developing countries. This year is the company's 25th anniversary.
FINCA stands for the Foundation for International Community Assistance. Established in 1984, FINCA is best known for having pioneered the "Village Banking method"--one of the major forms of microcredit--and for leadership in microfinance overall. 
The mission of FINCA Canada is to provide financial services to the world's lowest-income entrepreneurs so they can create jobs, build assets and improve their standard of living.

What is FINCA’s overall loan repayment?
Despite the fact that we’re working with some of the world’s poorest, the repayment rate is outstanding. Globally, our average, on-time repayment is more than 97 percent--as good or better than most commercial banks expect.


FINCA International: Small Loans, Big Change

Thank you for reading this far.
Go to the FINCA website in Canada

7 comments:

  1. Dear Patty, I had not heard of this organisation before and so was most interested to read your account of their work. Their mission seems to be a simple yet highly effective strategy, enabling people to take control of their own destinies and make progress as a result. I am pleased that you have highlighted FINCA since it seems to me to be an entirely worthwhile organisation.

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  2. No flowers necessary. This was a good post. The charitable efforts are outstanding by the FINCA and will enable the poor to help themselves to move forward and upward.

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  3. Thank you Edith and GW for your comments. This organization was new to me 2 years ago. Hubby and I researched a number of possible charitable organizations to donate to and FINCA stood out.

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  4. I have heard of this kind of charitable organization before and I think that it is a wonderful thing to help entrepreneurs in developing countries realize their own dreams for the future.

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  5. I agree Jennifer, to be able to help yourself is empowering.

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  6. Very nice post! and very nice labor from this organization.
    I had heard about this project before, but i didn't get the name. Thanks for the information.

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  7. I have heard of a similar scheme about microcredit by the Grameen Bank in Bangladesh, the founder who won a Nobel Prize. He said something like, when you help a women achieve financial independence, you are helping the whole family and the future generation. They found that women were good paymasters and they usually do not squander away the money entrusted to them.

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