MICROCAPITAL BRIEF: Calvert Impact Capital Opens $15m Credit Line for FINCA, Owner of 20 Microfinance Institutions (MFIs)

Calvert Impact Capital, a US-based NGO, recently opened a five-year credit line of USD 15 million for FINCA Impact Finance to use in support of its 20 microfinance institutions in Africa, the Americas and Eurasia. The funding is available for on-lending to micro- and small enterprises (MSEs) as well as for infrastructure, such as institution-wide technology initiatives.

FINCA Impact is a for-profit entity controlled by the US-based Foundation for International Community Assistance (FINCA International). FINCA Impact serves 2.6 million clients with 10,300 employees handling a gross loan portfolio of USD 854 million and USD 432 million in client deposits as of 2019. Its strategies for supporting its microbanks include “investments in call centers, data collection, digital field automation and credit scoring, as well as launches of mobile, online and agency banking.”

Calvert invests USD 1 million or more per transaction in sectors such as community development, housing and MSE lending. The organization has a portfolio of USD 415 million reaching 100 countries via 115 investments.

Sources and Additional Resources

FINCA Impact press release on Business Wire
https://www.businesswire.com/news/home/20200427005091/en/FINCA-Impact-Finance-Secures-15-million-Revolving

FINCA International homepage
https://www.finca.org

FINCA Impact homepage
https://www.fincaimpact.com

Calvert homepage
https://www.calvertimpactcapital.org

More news from MicroCapital on FINCA
https://www.microcapital.org/?s=finca

More news from MicroCapital on Calvert
https://www.microcapital.org/?s=calvert

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