We are delighted to share a remarkable success story from our LENDonate community! FINCA, a distinguished nonprofit organization headquartered in Washington D.C., has not only repaid their loan but has also achieved significant impact through their BrightLife initiative.
FINCA’s BrightLife, a social enterprise, is dedicated to improving the lives of underserved communities by pairing access to finance with clean energy solutions. Their mission is to enhance economic security, health, and wellbeing while fostering financial inclusion for the unbanked.
“Since the October 2020 closing of this loan, FINCA’s BrightLife program has exceeded its target to deliver clean energy to 80K Ugandans by delivering clean energy to over 115K Ugandans. This excellent progress has been made through an incredibly challenging economic period in Uganda as the country went through one of the strictest covid lockdowns in the world.”
~ Stefan Grundmann | Chief Operating Officer
FINCA International
Access to responsible finance is an important tool for strengthening the economic security of poor and low-income families. Access to non-financial goods—like clean energy products—are also critical for improving health and wellbeing, increasing productivity and alleviating poverty.
BrightLife, a social enterprise by FINCA (a $114M net asset nonprofit organization headquartered in Washington D.C.), pairs access to finance with access to energy to unlock productivity and wellbeing for the poor. It is also building pathways to financial inclusion for the unbanked. BrightLife is reimagining what the next generation of rural households in Uganda and beyond may look like.
As 75% of Ugandan families live without access to electricity, BrightLife provides access to affordable clean energy lighting. The solar home systems provide in-home lighting with a built-in phone charger and radio. Customers are able to make low, weekly payments until they pay off their product.
MISSION: To alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living.
VISION: To build a global network of sustainable and scalable social enterprises that improve lives worldwide.
ORGANIZATION: With headquarters in Washington, DC, the goal at FINCA International is to provide low-income people around the world the tools they need to succeed. FINCA’s programs benefit millions of people across five continents. FINCA does this by offering responsible financial services, such as small loans or savings accounts; by reaching people in remote communities using technology like mobile phones and tablets; and by providing access to life-enhancing products, like solar home systems and clean cookstoves.
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