Top nonprofit organizations working in microfinance: A primer

Various types of microfinance institutions are helping underserved populations around the world gain access to financial services and resources. These institutions — including commercial banks, credit unions, sectors of government banks, cooperatives, and nongovernmental organizations — provide a range of services and can operate using different models, such as for-profit versus nonprofit. Some are involved in the direct provision of savings and insurance initiatives, small loans, and financial training. Others focus on the research and data of financial inclusion, advocating for better standards while developing solutions and digital innovations. We looked at some of the nonprofits working in microfinance, both those working directly with communities on the ground and those supporting these activities through partnerships, advocacy, and information sharing. If you are looking to work in microfinance, here’s a roundup of some of the top organizations — including those currently hiring. Accion International Organization type: Nonprofit, finance and investment Headquarters: Boston, United States Activities: Investment in microfinance institutions through various funds; financial literacy and business training for clients; partnering with financial services to provide global advisory solutions; and loan provision through partnerships with existing MFIs. Operating in: 26 countries across Asia, Africa, Latin America, and the Caribbean — and North America through partnerships Funding: Receives public and private funding from individuals, institutions, families, corporations, and organizations. Staffing: Professionals from private and public sector backgrounds such as commercial and investment banking; corporate and nonprofit management; and international community development. With regional offices in Washington, Accra, Beijing, Bogota, Bangalore, and Mumbai. View job openings with Accion International here. Aga Khan Agency for Microfinance Organization type: Foundation — 1 of 10 agencies belonging to the Aga Khan Development Network Headquarters: Geneva, Switzerland Operating in: Afghanistan, Burkina Faso, Côte D’Ivoire, Egypt, Kyrgyzstan, Madagascar, Mali, Pakistan, Syria, and Tajikistan Activities: Provides financial support to clients benefiting from AKDN’s social programs; technical services and trainings; works in particular with the Aga Khan Fund for Economic Development; builds relationships with commercial banks and insurance groups to improve long-term access to financial services for its clients; provides loans for income-generating activities; and invests in housing, education, and health. Funding: Through partnerships with national governments, multilaterals, and private sector partners. Other funding sources include user fees and endowment fees; donations from corporations and individuals; and the fundraising activities of AKDN affiliates in Canada, the U.S., the U.K., and Portugal. Staffing: The wider AKDN agency employs approximately 80,000 people. ASA (Association for Social Advancement) Organization type: Nonprofit Headquarters: Dhaka, Bangladesh Operating in: Bangladesh Activities: Loans, savings products, and a loan security and risk fund. ASA also provides programs in foreign remittance; supports small and emerging NGOs through partnerships; and runs nonfinancial programs in health, sanitation, and agriculture. Funding: Self-financed and implements nonfinancial programs with resources generated from the surplus of its microfinance operations. Staffing: 25,906 staff across 2,972 microfinance branch offices. BRAC (Bangladesh Rural Advancement Committee) Organization type: Nonprofit Headquarters: Dhaka, Bangladesh Operating microfinance programs in: Bangladesh, Afghanistan, Pakistan, Myanmar, the Philippines, Liberia, Sierra Leone, Tanzania, and Uganda, with additional programs in South Sudan and Nepal Activities: Client-focused services covering small enterprises, migration, agriculture, and women. BRAC also runs a microfinance research and development unit, and provides financial education. Funding: Affiliate offices in the U.S., U.K, and the Netherlands overseeing additional fundraising operations. Staffing: There are country offices in each country with a BRAC microfinance program, and the Netherlands is home to the Stichting BRAC International office. View job openings with BRAC here. FINCA International Organization type: Nonprofit Headquarters: Washington, D.C. Operating in: 20 countries across Africa, Europe, Asia, Middle East, Latin America, and Caribbean Activities: Loans for groups, individuals, agriculture, and energy; savings and insurance; investment in technologies; and solutions such as payments via mobile phone, social enterprises, and research. Funding: Microfinance operations of Finca Impact Finance Network as well as grants and donations. Works with: Partners include the Mastercard Foundation, International Finance Corporation, United Nations Capital Development Fund, and the United States Department of Agriculture, among others. Staffing: More than 10,000 staff across its communities. View job opening with FINCA INTERNATIONAL here. Fonkoze Organization type: Nonprofit, financial services Headquarters: Port-au-Prince, Haiti Operating in: Across Haiti with 44 branches Activities: Through its financial company Fonkoze Financial Services, Fonkoze offers small loans; group lending; business development savings products; international and domestic money transfer services; currency exchange services; and payroll services. Fonkoze also runs development programs for adult education and health. Funding: Public donations and partnerships Staffing: Family of three organizations: The Fonkoze Foundation, Fonkoze USA, and Fonkoze Financial Services. In addition to the office in Haiti, the group has an office in Washington, D.C. HOPE International Organization type: Nonprofit Headquarters: Lancaster, United States Operating in: Burundi, Democratic Republic of Congo, Malawi, Republic of Congo, Rwanda, Zambia, Zimbabwe, the Philippines, Moldova, Romania, Ukraine, Dominican Republic, Haiti, and Peru Activities: Supporting microfinance institutions, savings, and credit associations Funding: Donations from individuals, businesses, foundations, churches, and Homes for Hope. HOPE also charges interest on loans — invested back into projects — to become self-sufficient. Staffing: 1,400 staff worldwide View job openings with HOPE International here. KIVA Organization type: Nonprofit Headquarters: San Francisco, United States Operating in: 80 countries worldwide Activities: Provision of small loans through field partners or direct payments. These loans cover a range of categories and groups including retail businesses, art, agriculture, education, conflict areas, under banked regions, and refugees and IDPs. Funding: Donations, grants, and sponsorship Staffing: Kiva has an office in Nairobi and staff stationed around the world, including 450 volunteers, 110 employees, and 6,793 field partners and trustees. View job openings with KIVA here. Grameen Foundation Organization type: Foundation Headquarters: Washington, D.C. Operating in: India, Indonesia, the Philippines, Colombia, Ecuador, Mexico, Peru, Benin, Burkina Faso, Ghana, Kenya, Sierra Leone, Tanzania, and Uganda Activities: Financial services for agriculture and health; training in financial literacy and business practices; in addition to research and support for the use of digital products. Funding: Individual donations and corporate partnerships. Staffing: Second U.S. office based in California, as well as international offices in Medellin, Accra, Nairobi, Kampala, and Manila. View job openings with the Grameen Foundation here. MIX Organization type: Nonprofit, service provider Headquarters: Washington, D.C. Operating in: South America, Africa, Asia, Middle East, and Eastern Europe Activities: Data collection and provision of performance information on microfinance institutions, funders, networks, and service providers. The group operates two online platforms: The first is MIX Market, which shares data, analytics, and insights spanning thousands of organizations to keep key players informed on the financial inclusion industry. The second platform, FINclusion Lab, uses geopolitical mapping and data visualization to measure financial inclusion at different levels. Funding: MetLife Foundation, Mastercard Foundation, Citi Foundation, and the Cisco Foundation are some of the global partners. Staffing: Azerbaijan, India, Peru, and Senegal. Staff come from diverse backgrounds including finance, education, marketing, and public policy. View job openings with MIX here. Microcredit Summit Campaign Organization type: Investment and finance coalition. Headquarters: Washington, D.C. Operating in: Globally through more than 2,000 members Activities: Bringing together microfinance practitioners, advocates, educational institutions, donor agencies, international financial institutions, and NGOs to promote best practices in the field and foster the sharing of knowledge. Funding: Works in partnership with foundations, funds, and corporations. Sometimes involving specific projects, reports, or events such as the 100 Million Project supported by the MasterCard Foundation. Citi Foundation, the Arab Gulf Programme for the United Nations, and Johnson & Johnson are among the groups other partners. Staffing: Also the administrative home of Truelift, the industry initiative formerly known as the Seal of Excellence for Poverty Outreach and Transformation, which consists of a committees made up of industry experts and researchers. Opportunity International Organization type: Nonprofit Headquarters: Chicago, United States Operating in: Over 22 countries across Africa, Eastern Europe, Central and East Asia, and Latin America through the a network of 48 organizations — 43 of which are microfinance institutions, known as program partners. Activities: Provision of loans, microinsurance, and savings initiatives with a focus on rural outreach, agriculture, education, and technology. The organization also provides trainings and financial advice. Funding: Funding comes mainly from individual donations, trusts and foundations, and companies, with supporting partners in Australia, Canada, Germany, and the U.K helping to raise funds to support the program partners. Staffing: The countries with the highest spending in 2016 were Uganda, Ghana, and the Democratic Republic of Congo. View job openings with Opportunity International here. Pro Mujer Organization type: Nonprofit Headquarters: New York, United States Operating in: Argentina, Bolivia, Mexico, Nicaragua, and Peru Activities: Financial services and health services for women in Latin America. Activities in financial services differ in each region but include literacy workshops and business training. Funding: Collaborations with government agencies and social enterprises at a local, national, and international level for donations, expertise, and shared resources. Staffing: The organization has partnered with the Tinker Foundation, JPMorgan Chase Foundation, Citi Foundation, MasterCard Centre for Inclusive Growth, and MetLife Foundation for its financial inclusion services. From 2014-2015, Pro Mujer employed over 2,000 field staff — 70 percent of whom were women. The Seep Network Organization type: Association Headquarters: Arlington, Virginia, United States Operating in: 170 countries through 119 organizational members Activities: Supporting members by facilitating research and shared learning, capacity building, improve standards of practice, mobilize members and forge partnerships, and develop products and services. The organization’s current financial services include The Mastercard Foundation Savings Learnings Lab, Savings-Led Working Group, Savings Groups Evidence and Learning Initiative, Disaster Risk Reduction Program and Institutional Savings-Led Microfinance for OVCs (orphans and vulnerable children). They also run enterprise and market development initiatives, and region-specific association services. Funding: New members pay a membership fee depending on their own revenue. Staffing: The organization's small team includes senior advisors, program managers, and assistants, as well as professionals working in multimedia and design, and global communications. Women's World Banking Organization type: Nonprofit, investment and finance, advocacy NGO Headquarters: New York, United States Operating in: 32 countries with 42 partner institutions Activities: Market research and product innovation, savings accounts, health microinsurance, financial services for small and medium enterprises, and digital savings accounts. Funding: Women’s World Banking relies on its core funding partners: the Australian Department of Foreign Affairs and Trade, the Ministry for Foreign Affairs of Finland, and Sweden’s Sida. It also receives support from government and development finance organizations such as the United Nations Capital Development Fund and corporations and foundations such as the Bill & Melinda Gates Foundation. Staffing: WWB implements through partnerships at a local level including with regional banks. View job openings with Women’s World Banking here.