Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, or a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent.
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution.
Mercy Corps is a global non-governmental, humanitarian aid organization operating in transitional contexts that have undergone, or have been undergoing, various forms of economic, environmental, social and political instabilities. The organization claims to have assisted more than 220 million people survive humanitarian conflicts, seek improvements in livelihoods, and deliver durable development to their communities.
The Hunger Project (THP), founded in 1977 with the stated goal of ending world hunger in 25 years, is an organization committed to the sustainable end of world hunger. It has ongoing programs in Africa, Asia, and Latin America, where it implements programs aimed at mobilizing rural grassroots communities to achieve sustainable progress in health, education, nutrition, and family income. THP is a 501(c)(3) non-profit charitable organization incorporated in the state of California.
Opportunity International is a 501(c)(3) nonprofit organization chartered in the United States. Through a network of 47 program and support partners, Opportunity International provides small business loans, savings, insurance and training to more than 14 million people in the developing world. It has clients in more than 20 countries and works with fundraising partners in the United States, Australia, Canada, Germany, Switzerland, Singapore, Hong Kong and the United Kingdom. Opportunity International has 501(c)(3) status as a tax-exempt charitable organization in the United States under the US Internal Revenue Code.
Freedom from Hunger is an international development organization working in nineteen countries. Freedom from Hunger focuses on providing small loans and business education to poor women. It is a nonprofit organization classified by the IRS as a 501(c)(3) charity. It was evaluated in 2011 by GiveWell, who found their programs had little to no lasting impact.
Pro Mujer is a nonprofit development organization that provides financial inclusion, health and education programs to low-income women in Latin America. One of the largest women's organizations in the region, Pro Mujer operates in Argentina, Bolivia, Mexico, Nicaragua, Peru and Guatemala with headquarters in New York City. Since its founding in 1990, Pro Mujer has disbursed more than $4 billion in small loans, provided over 10 million health interventions and impacted more than 2 million women across the region.
Kiva Microfunds is a 501(c)(3) non-profit organization headquartered in San Francisco, California. Kiva's mission is "to expand financial access to help underserved communities thrive."
Children of the Nations (COTN) is a Christian nonprofit organization that exists to provide care for orphaned and destitute children in poverty-stricken areas of the world. Operating in Malawi, Sierra Leone, the Dominican Republic, Uganda, and Haiti, COTN helps nearly 7,000 children on a daily basis. COTN's stated goal is to "Raise children who transform nations."
LAPO is a Nigerian organisation with a microfinance bank dedicated to self-employment through microfinance and an NGO, a non-governmental, non-profit community development organization focused on the empowerment of the poor and the vulnerable.
ProLiteracy, also known as ProLiteracy Worldwide, is an international nonprofit organization that supports literacy programs that help adults learn to read and write. Based in Syracuse, New York, ProLiteracy has slightly less than 1,000 member programs in the U.S. and works with 21 partners in 35 developing countries.
Americares is a global non-profit organization focused on health and development that responds to individuals affected by poverty, disaster, or crisis. The organization addresses poverty, disasters, or crises with medicine, medical supplies and health programs.
Kids Alive International (KAI) is a Christian, U.S. based nonprofit organization that focuses on supporting the development of children, families, and communities. The organization has offices in 11 countries, including the United States, the Dominican Republic, Guatemala, Haiti, Peru, Kenya, South Sudan, Sudan, Zambia, Lebanon, Romania, and Taiwan.
Zakat Foundation of America is a Chicago-based NGO providing emergency relief, post-disaster rehabilitation, sustainable development, education, healthcare, orphan sponsorship, and seasonal programs such as Ramadan iftars and Udhiya/Qurbani. Zakat Foundation of America is registered under 501(c)(3) as a non-profit charity organization.
Fonkoze is Haiti's largest microfinance institution serving the poor in Haiti, with 44 branches located throughout the country.
Water For People was founded in 1991 by the American Water Works Association (AWWA) as a response to the increasing water scarcity in developing countries. It is a nonprofit international development organization that helps people in rural parts of developing countries achieve greater access to drinkable and potable water and sanitation facilities. It works to accomplish the United Nations' 6th Sustainable Development Goal: availability of clean water and sanitation and comprehensive monitoring of freshwater facilities for the progression of human health. They seek to address the issue of nonexistent and suboptimal water and sanitation facilities across less-developed countries. With developing locally sustainable drinking water resources and sanitation facilities, Water For People also works to bring health and hygiene education programs to local districts. The non-governmental organization also works to empower and involve local governments, corporations, schools, homes, and individuals in the construction, financing, and maintenance of the water infrastructure. Water For People has established a year-round presence in 30 districts of nine developing countries, including Guatemala, Honduras, Nicaragua, Bolivia, Peru, India, Rwanda, Uganda and Malawi. In totality, Water For People reaches 4 million people.
Hope for Haiti is a non-profit organization based in Naples, Florida, USA, founded in 1989 by JoAnne Kuehner. The mission of the organization is to improve the quality of life for the Haitian people, particularly children, through education, healthcare, water, infrastructure and economy. In addition, Hope for Haiti has an emergency relief component and has responded to several natural disasters like the 2010 Haiti Earthquake and Hurricane Matthew since its founding.
Dean Karlan is an American development economist. He is Professor of Economics and Finance at Northwestern University where, alongside Christopher Udry, he co-founded and co-directs the Global Poverty Research Lab at Kellogg School of Management. Karlan is the president and founder of Innovations for Poverty Action (IPA), a New Haven, Connecticut, based research outfit dedicated to creating and evaluating solutions to social and international development problems. He is also a Research Fellow and member of the Executive Committee of the board of directors at the Abdul Latif Jameel Poverty Action Lab (J-PAL) at the Massachusetts Institute of Technology. Along with economists Jonathan Morduch and Sendhil Mullainathan, Karlan served as director of the Financial Access Initiative (FAI), a consortium of researchers focused on substantially expanding access to quality financial services for low-income individuals.
VisionTrust is an international, non-denominational non-profit organization that assists orphaned and vulnerable children around the world. The organization works alongside local Christians to help children gain an education, nutritional support, medical assistance, and spiritual discipleship. VisionTrust works in schools, Transitional Homes (orphanages), and Learning Centers. They offer child sponsorships, short-term mission trips, and assist churches with educational materials to promote participation in this effort. VisionTrust is headquartered in Colorado Springs, Colorado.
HOPE International is a Christian faith-based nonprofit organization based in Lancaster, Pennsylvania that aims to equip individuals living in poverty with savings and microfinance services. HOPE International now operates in over 20 underserved countries and has assisted over 2.7 million people with small loans and savings services since it began operations in 1997.
