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.
Kilifi is a town on the coast of Kenya, 56 kilometres (35 mi) northeast by road of Mombasa. The town lies on the Kilifi Creek and sits on the estuary of the Goshi River. Kilifi is capital of the Kilifi County and has a population of 122,899.
Veronica Webb is an American model, actress, writer, and television personality. The first African-American to have a major cosmetics contract, Webb has appeared on covers of Vogue, Essence and Elle magazines and on the runway for Victoria's Secret and Chanel.
Maria Teresa is the Grand Duchess of Luxembourg as the wife of Grand Duke Henri, who acceded to the throne in 2000.
Grameen Foundation, founded as Grameen Foundation USA, also known as "GFUSA", is a global 501(c)(3) non-profit organization based in Washington, DC, that uses digital technology and data to understand very poor people, in detail, and offer them—and the entire ecosystem of agencies and actors surrounding them—empowering tools that meet and elevate their everyday realities. Its CEO is Zubaida Bai. Grameen Foundation's mission is, "To enable the poor, especially women, to create a world without poverty and hunger." According to the OECD, Grameen Foundation’s financing for 2019 development increased by 33% to US$45.5 million.
Opportunity International is a 501(c)(3) nonprofit organization chartered in the United States of America. 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 of America 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.
Veronica de la Cruz is an American television news anchor and philanthropist.
Lynn Forester, Lady de Rothschild is an American-British billionaire businesswoman who is the chief executive officer of E.L. Rothschild, a holding company she owns.
Grameen America is a 501(c)(3) nonprofit microfinance organization based in New York City. It was founded by Nobel Peace Prize recipient Muhammad Yunus in 2008. Grameen America is run by former Avon Chairman and CEO Andrea Jung. The organization provides loans, savings programs, financial education, and credit establishment to women who live in poverty in the United States. All loans must be used to build small businesses.
Innovations for Poverty Action (IPA) is an American non-profit research and policy organization founded in 2002 by economist Dean Karlan. Since its foundation, IPA has worked with over 400 leading academics to conduct over 900 evaluations in 52 countries. The organization also manages the Poverty Probability Index.
Fonkoze is Haiti's largest microfinance institution serving the poor in Haiti, with 44 branches located throughout the country.
Premal Shah is an Indian-American entrepreneur who co-founded Kiva, a global poverty alleviation non-profit that has raised over $1 billion for low-income entrepreneurs in eighty countries.
Women's World Banking is a nonprofit organization that provides strategic support, technical assistance and information to a global network of 55 independent microfinance institutions (MFIs) and banks that offer credit and other financial services to low-income entrepreneurs in the developing world, with a particular focus on women.
The Kravis Prize or Henry R. Kravis Prize in Nonprofit Leadership is a philanthropic award for leaders in the nonprofit sector. According to Bloomberg News, the prize "honor[s] those who have demonstrated 'bold leadership' in the nonprofit sector and have shared their best practices with others."
The MicroDreams Foundation is an American non-profit organization founded by Gregory Casagrande in 2002 as a microfinance accelerator that helps small, growing micro-enterprise development organizations reach financial self-sufficiency. Foundation collaborated in SPBD microfinance network to help young emerging partner microfinance institutions (MFIs) in Bolivia, Ecuador, and Peru. MicroDreams uses loans, loan guarantees, and technical assistance to provide economic opportunities to the poorest members of society.
Julie Macklowe is an American socialite. Formerly in finance, she later founded of vbeauté, a former luxury skincare line for women. She is also a former hedge fund manager and philanthropist. In 2021, she released The Macklowe, an American single malt whisky.
Cherie Amie is a U.S.-based retailer of ethical lingerie with production and operations in Cameroon, Central Africa. It is the first fair trade intimate apparel company to adopt the Good Returns business model and use 100 percent of its net profits to fund microloans. Styling itself as a "do-good" lingerie producer, the company also finances sustainable development projects in sub-Saharan Africa by contributing 10 percent of its net income to Peace Tree Africa, a 501(c)3 tax-exempt nonprofit organization.
Veronica Chambers is an Afro-Latina author, teacher, and magazine executive. Chambers has been an editor and writer for New York Times Magazine, Newsweek, Glamour, Good Housekeeping, Premiere, Esquire, Parade and O, The Oprah Magazine.
