Nearly 2 billion people around the world are excluded from the formal financial system, without critical access to credit, savings, or other basic financial services.
Traditional banks often do not serve the micro loan segment—or even the small business segment—in developing countries, because these clients are considered too costly or high risk, or because they don’t know how to cater to the needs of people working in the informal economy.
But FINCA’s founders understood that poor people could be trusted to pay back small loans, and that these loans could transform their lives. Over 30 years later, the concept of microfinance has helped millions of hard working people build businesses, increase their incomes, and improve their lives.
FINCA Canada supports financial inclusion programs in Guatemala, Haiti, Malawi, Tanzania, Uganda, and Zambia. By providing loan capital and technical assistance to women and men microentrepreneurs in these countries, FINCA empowers individuals to generate income and make better financial decisions, allowing them to support themselves sustainably, create jobs for others in their communities, and invest in healthier, brighter futures for their families.
Mama Kapu in Tanzania is one shining example of a woman whose hard work and determination—along with her FINCA loans—helped to improve the lives of other women around her. Watch her story in the video below.