Center for Agriculture and Rural Development, Philippines

The Center for Agriculture and Rural Development (CARD) The Center for Agriculture and Rural Development (CARD) was originally founded as a social development organization in the Philippines in 1986 and launched its micro lending operations in 1989. While the lending model used by CARD was originally based on the group lending methods developed by the Grameen Bank in Bangladesh, CARD has adapted that methodology to the specific context of the Philippines by moving to a model that is focused on individual lending. With the end goals of attaining maximum outreach and sustainability, CARD NGO now serves over 2.8 million clients, 69% of whom are women. Since the late 1990s the organization has been gradually helping its branches transform from non-profits to regulated, self-sustaining banking institutions, to broaden their product range and better serve their clients. Their strategy of developing mutually reinforcing institutions (MRIs) is very well regarded in the microfinance and international development communities and has earned them recognition as an industry leader. CARD’s nine MRIs currently offer micro loans, banking, health and life insurance products and services, education, and training programs to their clients. CARD Inc. has consistently maintained a near perfect repayment rate since 2001, which contributed to its financial viability as per global microfinance standards.

Friendship Bridge, Guatemala

Friendship Bridge is a 501(c)(3) nonprofit social enterprise with a mission to create opportunities that empower Guatemalan women to build a better life. Established in 1990 and headquartered in Lakewood, Colorado, Friendship Bridge operates 12 branch offices in Guatemala and provides a suite of products and services including microcredit, Non-Formal Education, and access to culturally appropriate healthcare. Clients are 100% women, primarily indigenous Maya, and live in rural communities with some of the highest poverty levels worldwide. Friendship Bridge clients form Trust Banks – groups of 7-25 women who co-guarantee each other’s loans, elect their own leadership team, and serve as a network of support for each other. Annually, Friendship Bridge supports nearly 35,000 women and through their programming, are changing how clients see, respond to, and overcome the protracted issues of poverty for themselves, their families, and their communities. In 2023, Friendship Bridge maintained an impressive repayment rate of 98.9%. Under its strong leadership, the organization continues to expand its positive social and economic impact in a sustainable manner.