Mission Statement

The mission of FINCA International 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. Their vision is to be a global network collectively serving more poor entrepreneurs than any other microfinance institution, while operating on commercial principles of performance and sustainability.

Details

The primary program currently funded by FINCA is called Village Banking. A Village Bank is a small bank run locally by the people that it serves. Through your donations, the Village Bank provides microfinance loans to people who are looking to start a microenterprise to help pull them out of poverty. These banks primarily serve women in extreme poverty, particularly mothers who are working to improve the lives of their children.

FINCA lends primarily to women for several reasons. First, the feminization of poverty is a worldwide trend. Seventy percent of the world's poor are women, largely because of their limited access to education and productive resources such as land and credit. Another worldwide trend is an increase in single parent households in which a mother provides the sole support for her children.

Most victims of severe poverty are children. According to UNICEF, at least half of the 12 million children aged five or younger who die each year, die from malnutrition associated with severe poverty. According to FINCA, "The most direct way to improve children's survival and welfare is to strengthen their own mothers' ability to take care of them." The women are being directly served by the loans, and as a result, can turn and help their entire family. "FINCA borrowers often say they spend increased earnings on children first, improving nutrition, health, and educational status, in that order. In most cases, borrowers greatly expand - even double - family food purchases with the first loan. As nutrition and health improve, women then invest income in education, followed by home improvements."