“Empowering these women makes a difference,”writes Keltner de Valle. “In Guatemala, girls traditionally stop attending school at around 10 years of age to help take care of their younger siblings, while their brothers continue to receive an education. However, as more and more women become financially independent through small businesses like those we’re visiting, they not only help pull their communities out of poverty, but they also force cultures to acknowledge the power of their female citizens.” Minkoff and Alba will be launching the RxMHonest bag line, which uses textiles hand-woven by FINCA female entrepreneurs in Guatemala. Proceeds from the sales of the bag will help support FINCA’s work of empowering hardworking, low-income people around the world to expand their businesses, take part in the economy and generate income for their families. “We’re entrepreneurs, so that passion comes from a very real place for both of us,” says Alba. “Rebecca and I know firsthand how difficult it is to start a company and stay in business. To not have any resources on top of that? FINCA gives these people an opportunity.” Read the full article here »
“At first we were finding it difficult to make trips to the FINCA office because we had to travel a long way to pay back our loans. But now, they have made things easier for us. FINCA has considered our needs. They have established mobile payments so we can repay our loans more easily.” – Jane Hendry, FINCA client in Tanzania.
The video has been produced in collaboration with The MasterCard Foundation. FINCA and The Mastercard Foundation are partnering to increase outreach to marginalized people and promote financial inclusion in Africa.
- Our products are designed carefully to meet the needs of our clients in a way that do not cause them any harm,
- Clients do not borrow more money than what they can repay,
- Our clients fully understand pricing as well as terms and conditions so they can make informed decisions,
- Our clients are treated fairly and respectfully particularly during debt collection processes,
- Our client data remains private,
- Our clients have ways to communicate complaints so we can resolve problems and serve them better.
from 2,000 to over 18,000 active clients, 86% of which womenWe have opened
four new branches since 2013Introduced new loan products that include
agriculture and small enterprise loansAnd launched
cash and mobile banking servicesmaking it easier for our clients to conduct safer, less costly transactions. Haiti doesn’t have many natural resources, but its people are rich in resourcefulness. FINCA loans help innovative clients like Madame Julia Pierre grow her business: “I am a 58-year-old woman. I live in Croix-des-Bouquets, a little city in Cul-de-Sac Plain. When I grew up, my mother supported us by retailing groceries. My father died when I was a baby. I started selling coffee when I was 12 years old. I am a mother of two young men. A year ago, I started selling peas, fruit and vegetables. I purchase from farmers and then sell at home. I needed money to expand my little business. A friend told me about FINCA and invited me to a Village Bank named Fanm Vayan (Valiant Women). I accepted, and took part in a meeting. I appreciated the solidarity of the women and decided to become a member. After several meetings where the loan officer explained loan management to me, I received my first loan of 6,000 gourdes ($137). This loan helped me buy more peas and vegetables. I repaid on time, and I am now managing a loan of 9,000 gourdes ($207). FINCA loans are really important for me because they don’t ask me for collateral, and I repay on a monthly basis, which is better for me and helps me put more money in my business a little longer. My business is more profitable now, and I am glad that FINCA is my partner. I am already thinking what other produce I can add to my business with my next loan.”