FINCA Guatemala, whose name derives from that of the US-based Foundation for International Community Assistance (FINCA International), recently agreed to borrow USD 1.5 million over two years from the Kiva Refugee Investment Fund, which is managed by Kiva Capital, a unit of the US-based NGO Kiva. The goal is to expand lending to “Guatemalan migrants returning to their home country and locally based entrepreneurs.”
FINCA Guatemala was founded in 1997 and offers medical and life insurance, payment services, mobile airtime purchases, asset finance, credit lines, and group and individual loans. The entity serves 21,000 clients, mostly in the western and central highlands of the country.
FINCA Guatemala is held by FINCA Microfinance Holding (FMH), a for-profit entity that was founded in 2011 and is majority-held by FINCA International. FMH owns 17 microfinance institutions employing 7,600 people who serve 2.8 million customers in Africa, Eurasia and Latin America. It reports a loan portfolio of USD 683 million and client deposits of USD 408 million as of 2021. FMH’s minority investors comprise three development finance institutions and two private companies.
Kiva seeks to help people improve their livelihoods through: (1) Kiva.org, a crowdfunding website; (2) Kiva Capital, a fund manager and wholesale lender to microfinance institutions and other social enterprises; (3) Kiva Labs, which tests new financial products; and (4) Kiva Protocol, which promotes digital identification systems. During 2021, the NGO facilitated loans totaling USD 223 million to 556,000 borrowers – 80 percent of whom are women – in 60 countries. For the same year, Kiva reports income of USD 49 million, closing with total assets of USD 47 million.
Sources and Additional Resources
Direct contact with Kiva
FINCA Guatemala homepage
https://www.finca.gt
FINCA Microfinance Holding homepage
https://www.fincaimpact.com
FINCA International homepage
https://www.finca.org
Kiva finances
https://www.kiva.global/annual-reports-and-finances/
Kiva.org homepage
https://www.kiva.org
More news from MicroCapital on FINCA
https://www.microcapital.org/?s=finca
More news from MicroCapital on Kiva
https://www.microcapital.org/?s=kiva
Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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