5 Biggest Microfinance Companies in the United States

In this article we are going to list the top 5 biggest microfinance companies in the United States. For a detailed coverage of this topic and a more comprehensive look, please take a look at the 13 biggest microfinance companies in the United States.

5. Kiva Microfunds

Loans disbursed: $1.4 Billion

Based in San Francisco, California, Kiva is an international nonprofit organization that provides services of microloan disbursal through crowdfunding. The founders of Kiva, Matt Flannery and Jessica Jackley, were inspired by Grameen Bank’s founder Muhammad Yunus at a Stanford Business School lecture. The company began as a small venture in the world of microfinance, with initial loans totaling $3500, to the total loan disbursal to now stand at a staggering $1.4 Billion. Today Kiva works with more than 300 microfinance institutions, social impact businesses, school, and nonprofit organizations around the world. Kiva lenders on average crowdfund $2.5 million in loans each week.

4. Grameen America Inc.

Loans disbursed: 1.75 Billion

Founded by the Nobel Peace Prize recipient Professor Muhammad Yunus in 2008, Grameen America is a nonprofit microfinance company based in New York City. The microfinance lending system was first implemented by the company’s founder in Bangladesh, with great success a couple decades before, and so with that same expectation it was launched in urban America. They saw that New York City has a wide population of people without any access to traditional banks, and so they opened their services of lending, savings programs, financial education, and credit establishment to women in the United States. Launched in the financial crisis of 2008, the company has grown to being established in 15 U.S cities and serving 133,300 women in 2021.

3. BRAC USA

Loans disbursed: $2.3 Billion

BRAC USA is a nonprofit that is the North American affiliate of the international development organization BRAC based in Bangladesh. They aim to raise awareness, empower the poor, and mobilize resources to support programs in education, health care, girls’ empowerment, agriculture, and human and legal rights. The nonprofit works to design solutions to equip people with support, skills, and confidence they need to flourish. The organization serves 100 million people in 11 countries, most of whom are women and girls. They have disbursed microloans to over 7 million people, and have helped over two million families out of extreme poverty.

2. CDC Small Business Finance Corp.

Loans disbursed: $20.7 Billion

Based in San Diego, California, CDC Small Business Finance Corporation is a nonprofit lender that provides capital, loans and financial services to small businesses since 1978. The company’s services are active in California, Arizona, and Nevada. The organization claims to support and help businesses no matter what stage they are at in their growth cycle. From startups to seasoned companies, CDC Small Business Finance has a program for everyone. CDC Small Business Finance Corporation have to date provided 12,000 loans to small businesses, created 269,000 jobs, and leveraged more than $20 Billion in loans.

1. Pacific Community Ventures

Loans disbursed: $25 Billion

Established in 1998, Pacific Community Ventures is a nonprofit community development financial institution that aims to see a world where all individuals, regardless of their socioeconomic background, has a fair shot at success and also tops our list of the 13 biggest microfinance banks in the United States. They provide loans form $10,000 to $200,000 to California small businesses with at least on part or full time employer. Their mission is to invest in small businesses, create good jobs for working people, and make marts work for social good, according to their website. Pacific Community Ventures engages small businesses, impact investors, and policymakers, to help build an economy that works for all members o society. This is done by working with large institutions to drive investments, empowering small business owners with capital, advice, and mentorship, and introducing companies to networking strategies to further increase their chances of both success and scalability. The company pledges to stimulate private and public investment in underserved communities across America.

See also: 20 largest insurance companies in the US and 20 biggest black-owned companies in the US