15 years have passed since “FINCA International Inc.” Not-for-Profit Corporation founded FINCA in Armenia aiming to provide financial services to the lowest-income entrepreneurs to create jobs, build assets and improve their standard of living.
Of course, the beginning was tough: downturn of economy after the collapse of the Soviet Union, a totally different model of lending, only an office in Yerevan and a very small staff. However, the challenges strengthened our team even more inspiring to move forward full-force for the accomplishment of the mutual goal.
Everyone’s enthusiasm and efforts gave their products: in a short period of time FINCA grew to the ranks of the leading credit organizations in Armenia leaving a trail of success stories behind and having a major impact on the social performance of low-income families. Within years FINCA considerably expanded its customer segment developing new product types that would satisfy also large business owners’ needs.
In 2012 FINCA’s responsible, reliable and dedicated approach resulted in reaching 50,000 clients throughout Armenia. Once a small office as of end of 2014 was expanded into a wide network of almost 40 branches covering all the regions of Armenia so that clients even from the very remote areas have an easy access to financial services.
All these did not stay unnoticed by clients themselves: in 2013 and in 2016 FINCA was recognized as “the Best Credit Organization” in Armenia as a result of public opinion polls conducted by Gallup International. The first recognition coincided with our 15th anniversary becoming the most important achievement of years of committed work.