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MCE Social Capital Reaches $100 Million in Loan Guarantees for Social Good
Launched in 2006, the nonprofit impact investing firm has used its innovative loan guarantee model to generate economic opportunities for nearly two million people living in poverty.
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The Power of Social Underwriting: Kiva Zip, on why it pays for lenders to tap the wisdom of the crowd
Social underwriting, ie: assessing borrowers’ creditworthiness by tapping into their existing trust networks, is a time-honored principle in community banking. And it’s increasingly being combined with digital tools to expand access to capital for borrowers that conventional lenders might reject as too risky or unprofitable. Kiva Zip’s senior director describes four ways they are implementing the approach.
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Press Release: Caspian Impact Investments Raises $20 Million in Financing From OPIC
Caspian Impact Investments (CII) today announced that it closed a debt financing commitment of $20 million from the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution.
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- South Asia
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Interview: Transforming Banking for the Poor: A Q&A With Jonathan Morduch
Microfinance was once heralded as a key weapon in the fight against global poverty. Yet some 2.5 billion impoverished people across the world still don’t have access to basic financial services, according to the latest World Bank data.
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One-in-Three U.S. Adults Has No Emergency Savings Despite Improving Economy, Says New Survey
An improving economy has done little to help people prepare for a financial emergency, with 34 percent of adults in America -- more than 72 million people -- saying that they don't have any emergency savings, according to the second annual financial capability survey from NeighborWorks America. That is up from 29 percent of adults reporting no emergency savings in the similar survey one year ago.
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- savings
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3 Key Risks in Going Digital – and How Microfinance Institutions Can Address Them: Grameen Foundation provides risk management tips for MFIs adopting mobile solutions
The speed and convenience that make digital services attractive to clients can bring a host of new risks for financial institutions that serve the poor. In the second post in their series on what it takes for microfinance institutions to go digital, Grameen Foundation explores some of these risks, and what MFIs can do to address them.
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Does Microfinance Still Hold Promise for Reaching the Poor?
Nearly two decades ago, when the concept of microfinance as a poverty reduction tool was in its infancy, there was hope that microcredit would transform economic and social structures. With its focus on reaching the previously unbanked, microcredit was expected to bring about change at the household level, a market in developing countries that traditional financial institutions had failed to reach.
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Viewpoint: McKinsey & Company Starts Its Own Version of Bain’s Bridgespan
The announcement that Helene Gayle, the retiring CEO of CARE, was going to be inaugural CEO of the McKinsey Social Initiative struck us as noteworthy for reasons that other press outlets really haven’t covered.
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