Unitus Inc., an American nonprofit committed to poverty relief through microfinance facilitation, has announced that the number of clients reached by its network of microfinance partners surpassed 3 million for the first time.
The figure of 3.3 million families impacted by Unitus’ partner institutions at the end of 2007 is more than double that which was reported as of year-end 2006. In light of the organization’s pressing mission to alleviate poverty, however, the pace is only expected to accelerate going forward. The outlook for 2008 and beyond emphasizes further expansion of services, with a target of 15 million clients by 2010.
Unitus highlighted a number of other achievements for 2007, including five new microfinance partners, the expansion of South America and India outreach, new expert “efficiency workshops,” a range of new Web-based tools and advisory services for clients, and the second annual Unitus Leadership Summit.
Unitus Inc. is a nonprofit based in Redmond, Wa., that was founded in 2000. It uses a “highly leveraged, results-focused model” to partner with MFIs, connect them with capital, and provide business tools and consulting services in seven countries. Although Unitus itself is not a direct provider of financing, the gross loan portfolio of all its partners as of year-end 2006 (Annual Report) totaled USD 115.4 million.
Unitus was also recently named by rock band The Police as a charitable partner for their 2008 North America tour.
By Stephen Son
Additional Resources:
Unitus: “Life-changing Microfinance Services Now Reaching More than 3 Million Poor Families Worldwide”; Annual Report; “Unitus Chosen as Charitable Partner for 2008 The Police Concert Tour”
MIX Market: Profile for Unitus Inc.
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