Looking for brilliant microfinance projects around the world? Changemakers’ community of expert social change activists supports and endorses many projects working to open banking to all, especially the bottom of the pyramid. Here are three of the most successful.
Hope for a Stable Future
Mann Deshi Mahila Bank winner of the How to Create Market-Based Strategies that Benefit Low-Income Communities competition, is improving the lives of women in rural India by guiding them toward financial freedom. Since 1997, this cooperative bank has been operated by and for women, helping milk vendors, craft workers, and entrepreneurs start business, stay healthy, and save for the future.
Sustainable Business Takes Root
Social investment firms often overlook artisan and farmer cooperatives in developing countries. Root Capital hopes to close this gap through a model that offers short-term loans and management skills to help grassroots businesses maintain sustainable practices. This Massachusetts-based organization was a finalist in the Banking on Social Change: Seeking Financial Solutions for All competition.
Cotton with a Conscience
Cultivating Innovation: Solutions for Rural Communities competition finalist Justa Trama specializes in cotton with a conscience. More than 700 workers throughout Brazil control and profit from the manufacturing of Justa Trama brand clothing and accessories—from seed to sewing.