Case Study: The Foundation for International Community Assistance (FINCA International)- Small Loans, Big Changes
This report analyzes the social entrepreneurship activities of Foundation for International Community Assistance (FINCA) International. It also includes a comparative study of FINCA and the National Bank for Agriculture and Rural Development (NABARD).
FINCA aims to reduce poverty by providing poor women with microcredit. FINCA’s leadership team, with their diverse backgrounds and large networks, are able to find innovative solutions to poverty. FINCA also uses cutting edge technology to promote microfinance. In 2007, it reached out to 700,000 clients, ran programs in 4 continents and 21 countries, and engaged in strategic partnerships with AIG, VISA, GE Money and other foundations.
The report makes recommendations for FINCA to achieve the Millennium Development targets as well as its own goals for 2010. It suggests that FINCA:
- Scale up, increasing its depth and adding more services to its established programs;
- Scale deep to make a greater impact in the home community;
- Evolve and expand its microcredit practices to incorporate other areas of development such as healthcare and insurance.
