"Microcredit" is pretty much just what it sounds like: small loans. Since the 1970s, microcredit has enabled poor people to start their own businesses, and the success and sustainability of the idea is beginning to draw the world's attention. In fact, the United Nations declared 2005 the International Year of Microcredit.
In 2004, CARE, Mennonite Economic Development Associates (MEDA) and the Seed Capital Development Fund founded MicroVest, an independent financial institution that provides funding for microfinance institutions.
Through MicroVest, investors provide much-needed capital for "microentrepreneurs" who may not qualify for traditional banking programs. Though they may live half a world away, investor and entrepreneur become partners, seeking the success of their uncommon joint business venture.
MicroVest offers a variety of products including the mPower Investment Program, a retail note available through the Calvert Social Investment Foundation that allows investors to get started with as little as $1,000. Like any investment, each MicroVest product has its own risks and returns.
While mPower is a great opportunity for investors to reap economic and social returns, the real winners are those businesspeople in poor countries who are eager to make a contribution to their developing economy.
Learn more about MicroVest and how to make an investment in the future of entrepreneurs in developing countries.
Read about the launch of MicroVest and CARE’s role in its founding.
