What is microfinance? Where can I learn more about it?
According to ACCION International, a leading nonprofit microcredit provider, microfinance is defined as "banking and/or financial services targeted to low-and-moderate income businesses or households, including the provision of credit".
Typically international in scope, microfinance support enables economically disadvantaged individuals to obtain the small-scale capital they need to start up viable income-earning businesses. Organizations that provide microfinance or microcredit are known as Microfinance Institutions, or MFIs. These providers can be nonprofit organizations but also commercial banks or other financial institutions.
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Staff-recommended websites
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ACCION International
The mission of ACCION International is to give people the tools they need to work their way out of poverty. By providing microloans, business training and other financial services to poor men and women who start their own businesses.
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Association for Enterprise Opportunity
National trade association for microenterprise. This group may be able to direct you to a local microenterprise development agency.
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FINCA International Microlending
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.
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Staff pick
FinDev Gateway
A comprehensive online resource for the global microfinance community. It includes research and publications, featured articles, organization and consultant profiles, and the latest news, events, and job opportunities.
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GlobalGiving
A global crowdfunding community connecting nonprofits, donors, and companies in many countries.
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Microlending
Kiva
Kiva is the world's first person-to-person micro-lending website, empowering individuals to lend directly to unique enterpreneurs in the developing world.
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Microcredit Summit
An organization providing information on microcredit, microfinance, payday loan relief, and more.
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Staff pick
MIX Market
Microfinance
Global, web-based, microfinance information platform. It provides information to sector actors and the public at large on microfinance institutions (MFIs) worldwide and related topics.
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Consultative Group to Assist the Poor
Microfinance
A global partnership that works with the financial industry, governments and investors to effectively expand access to financial services for poor people around the world.
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Staff pick
Coalition of Community Development Financial Institutions
Microlending
An organization that promotes community development financial institutions (CDFIs) in the United States. Member organizations throughout all 50 states include community development loan funds, community development banks, community development credit unions, microenterprise lenders, community development corporations and community development venture capital funds.
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Opportunity Finance Network
Microloans
A national association of community development financial institutions (CDFIs), providing capital, advocacy, and capacity building to help OFN member and non-member CDFIs create impact in rural, urban, and Native communities nationwide.
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Forbes.com
The World's Top 50 Microfinance Institutions
Article describes the leading organizations involved in microlending and microfinance to help left impoverished people into sustainable living all over the world.