Sacramento-based MicroCredit Enterprises Fund (MCE Fund) received a $3 million loan from the DC area Calvert Foundation. The MicroCredit Enterprises Fund, which has just been launched this year, is aligned with MicroCredit Enterprises LLC which has an operating budget of $200,000 for 2006. MicroCredit Enterprises will provide loans to both non-profit and for-profit microfinance institutions (MFIs) throughout the world. The MCE Fund’s application to become a non-profit is currently pending approval.
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