Not everyone knows the power and potential of microlending to give women, children, and entire villages resources to help put them on a path to a better life.
Compassionate and forward-thinking people know that a hand up is more valuable than a handout. They’re committed to bringing new hope to some of the world’s poorest people.
Today, we invite you to take the next step and join the ranks of the world’s most thoughtful investors by donating to support FINCA’s remarkable worldwide mission as we do.
Two billion people around the world survive on $2.50 a day or less. They are the world’s forgotten people, living in remote, faraway places where traditional banks either don’t exist or won't trust them.
For entrepreneurs like Farzana of Pakistan, a small loan from FINCA can change everything. It is their chance to make their hard work more profitable and build a brighter future.
Farzana is the mother of three children who started her career as a beautician. With access to very limited resources, she opened a small beauty parlor, which added to her family’s income. But Farzana dreams she can do even more if she has additional capital. She knows that an infusion of capital will allow her to grow her business and, hopefully, hire other beauticians, thus creating the ripple effect that microfinance can have in poor communities. She says she’s looking forward to working with FINCA, and has high hopes for her family’s future.
It’s remarkable and humbling to see what a local person in Uganda or Haiti or Pakistan can do with a $25 or $50 loan. They accomplish so much with so little. They are creative, industrious, and resilient in the face of huge obstacles—and they are determined to succeed.
FINCA loans are a sustainable solution. More than 97% of all loans are repaid on time and in full. Here’s how performer and philanthropist Bono put it:
“Give a man a fish, he’ll eat for a day. Give a woman microcredit, she, her husband, her children and her extended family will eat for a lifetime.”
For more than 30 years FINCA has proven that this is one of the most efficient, cost-effective ways to help alleviate global poverty, but the organization needs your help.
You will never find a better opportunity to help transform a life, a family, and a community. We at PHYTO5 hope you'll join us in supporting this cause. Remember, even a small donation can make an enormous difference. You can start with joining FINCA'S email list. Go here and scroll all the way down to "Email Registration."
Although it is a resource-rich country, Pakistan suffers from regional strife, high inflation and low growth. Moreover, the country’s public education system does not prepare citizens for the modern economy.
Pakistani women average seven years in school, and men, eight. Their combined literacy rate is only 55 percent.
Officially, 22 percent of the population lives in poverty. But in 2011, the UN Human Development Report estimated poverty at nearly 50 percent of the population. Since then, static incomes and rising prices—especially of food—have plunged more Pakistanis into poverty.
FINCA Microfinance Bank Ltd. is the newest subsidiary in the FINCA network. Acquired by FINCA in 2013 and headquartered in Lahore, the bank serves more than 220,000 clients through 76 locations in the Punjab region.
Offering savings and individual loans, FINCA Microfinance Bank is helping clients in the informal economy create their own jobs and build small businesses.