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FINCA’s History

FINCA and Microfinance:
the Growth of a Movement

1980-1990: The Dawn of Microfinance

HIST-HATCH1

1984

John Hatch conceives Village Banking. His plan enables poor Bolivian farmers with no collateral to access loans through a collective guarantee.  In 1985 Hatch establishes FINCA. FINCA is an acronym that stands for the Foundation for International Community Assistance.

LA VB

1985

FINCA launches its first Village Banking programs in Latin America. El Salvador is first in 1985; Mexico, Honduras, Guatemala and Haiti follow in 1989.

1991-2000: New Continents, New Clients, New Services

Private School Owner1992

FINCA launches its first program in Africa. FINCA Uganda opens in 1992, proving that Village Banking can work in diverse geographic and cultural environments.

Kyrgyz Women with Hats1995

FINCA expands to Eurasia. FINCA Kyrgyzstan opens in 1995.

Haiti VB Transaction Hands

1997

FINCA co-sponsors the first-ever Microcredit Summit. The Summit attracts practitioners, advocates, educational institutions, financial institutions, non-governmental organizations, donors and others from around the world to coalesce to a common goal: To eliminate poverty.

Clinton

1998

President Bill Clinton and First Lady Hillary Clinton visit FINCA Uganda and show strong support for microfinance as one important and critical tool for development.

Azeri boy w women_jpg

1998-1999

FINCA launches five new programs in Eurasia. Her Majesty Queen Rania Al-Abdullah of Jordan inaugurates FINCA Kosovo; FINCA also launches programs in Armenia, Georgia, Azerbaijan, and Russia.

uganda fire

1999

FINCA offers micro-insurance. Its innovative program in Uganda is later adopted by many MFIs.

2001 – 2010: Microcredit Comes of Age

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2003

FINCA Afghanistan becomes the first microcredit program in the country. FINCA pioneers Sharia-compliant products, which conform to Islamic financial principles.

NATALIE_Haiti

2004

Academy-award winning actress Natalie Portman is named FINCA Ambassador of Hope and her work with FINCA raises the visibility of microfinance as one important tool for development in emerging economies.

Azeri branch 2

2004

Three FINCA subsidiaries become regulated financial institutions. As financial institutions, subsidiaries in Ecuador and Uganda can offer clients more services, including savings accounts.

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2005 – 2006

The United Nations declares 2005 the Year of Microcredit. The 2006 Nobel Peace Prize is awarded to Muhammad Yunus and Grameen Bank, validating the positive global impact of microfinance.

VB-logo-2

2007

FINCA launches the Village Banking Campaign, a commitment to provide financial services to one million clients living in poverty.

FINCA UK Collaborating for Change

2008

FINCA launches its FINCA UK affiliate .

HER MAJESTY-Queen-Rania

2008

FINCA launches a new subsidiary in Jordan. Her Majesty Queen Rania Al-Abdullah of Jordan inaugurates the program.

branchless banking

2009

FINCA introduces “branchless banking.” Point-of-sale, ATMs and cell phone banking programs expand FINCA’s outreach and lower transaction costs.

Rupert

2009

FINCA launches its FINCA Canada affiliate.

Uganda Trip March 22-April2 2010 039

2010

FINCA Uganda pilots a micro-energy loan program.  Loans enable clients to purchase solar lamps and solar cookers and generators to ensure a steady, sustainable source of power for homes and businesses. Only 12 % of the population in Uganda is on the electric grid.

FIN25-year logo edited 2

2010

Milestone: FINCA celebrates 25 years of providing financial services to low-income entrepreneurs.

2010-today: Meeting the Needs of a Global Market

Star-Girls-Uganda

2011

FINCA Uganda launches a youth savings pilot program.

money

2011

Milestone: FINCA achieves $1 billion in small loans distributed.

SMART-2

2011

FINCA endorses The Smart Campaign. The Smart Campaign is a global campaign committed to embedding client protection practices into the institutional culture and operations of the microfinance industry.

FMH-Signing

2011

FINCA launches FINCA Microfinance Holding Company LLC., the first-of-its-kind socially responsible investment partnership for microfinance.

Faces-of-FINCA-Clients

2013

Milestone: FINCA reaches 1 million clients.

 
FINCA is a non-profit, tax-exempt charitable organization under Section 501(c)(3) of the United States Internal Revenue Code. Donations are tax-deductible. Our tax ID number is 13-3240109.
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