Microlending on a star-studded London evening

Hi, I’m Bob Price and I work for FINCA International, a non-profit microfinance institution that provides small loans to more than 725,000 of the world’s poorest entrepreneurs so they can lift themselves out of poverty. FINCA also is GE Money’s non-profit partner under Banking on Women™. Right now I’m in London and what an exciting 24 hours it’s been! We’ve just launched our newest affiliate, FINCA UK, with the help of GE Money, as well as leading lights in London society, government and academia.

The action kicked off last night at an intimate reception attended by actress Gwyneth Paltrow that raised nearly $100,000 for FINCA UK. I don’t think of myself as someone who gets easily star-struck, but when she brings a show of support to a noble idea along with a high-wattage visage, it’s a pretty powerful combination. Gwyneth (one of whose first films, Sliding Doors, is on my personal Top 10 list) had all that and more last night.

Ultimately, while everything about the launch was spectacular (capacity audiences, star-power, and media coverage), it was GE Capital COO Bill Cary’s opening remarks at last night’s reception that meant the most to me personally. When Bill said that the Banking on Women™ initiative is part of GE’s commitment to using the company’s resources, its 300,000 employees and its legacy of innovation to attack some of the world’s most difficult problems, I knew that all the hard work in establishing the partnership between our two organizations was going to yield long-term dividends.

With GE Money’s help, in just the past year, FINCA has established a new program in Jordan (bringing financial services to more than 8,400 women in just one year) as well as funded dozens of new Village Banks in Malawi. With GE Money’s continued support, I have no doubt that this is only the beginning of many more accomplishments to come!

Read the press release issued by FINCA.