MCE Social Capital Reaches $100 Million in Loan Guarantees for Social Good
Thursday, April 2, 2015
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.
On March 25, 2015, the Cordes Foundation, which focuses on empowering women and girls around the world, signed a $1 million loan guarantee with MCE Social Capital (MCE), putting MCE’s total pool of guarantees for social good over $100 million.
MCE leverages the strong balance sheets of its Guarantors—typically foundations and high-net- worth individuals—to unlock private sector capital for microfinance institutions (MFIs), small and medium sized enterprises (SMEs), and social enterprises in more than 33 countries in the developing world.
“The Cordes Foundation is very proud to help MCE reach this impressive milestone,” said the foundation’s Co-Founder, Marty Cordes. “We’re particularly inspired by MCE’s commitment to supporting organizations that both serve women and rural communities and that offer business and health education.”