FINCA's History: 1996-2000, New Economies, New Ways of Doing Business

In 1997, FINCA co-sponsors the first global Microcredit Summit. Over 2,000 policymakers, practitioners, and donors discuss ways to rapidly expand the reach of microcredit programs.
FINCA establishes a mechanism through which it can provide letters of credit to its programs, enabling them to borrow commercial capital. This allows programs to greatly increase their outreach while channeling commercial capital to the poor.
FINCA Nicaragua and FINCA Honduras become the first programs to cover all operating costs with interest income from loans, proving that microfinance can be sustainable.

FINCA establishes new programs in Guatemala, Georgia, Azerbaijan, Armenia, and the Samara region of Russia, and is among the first economic development organizations to enter Kosovo after the June 1999 cease-fire.
To better serve these diverse economies, FINCA begins offering a variety of loan products, savings plans, and insurance.

FINCA attracts a broad and diverse base of support, including businesses, community groups, and churches, many of whom have used the Village Banking model to launch their own programs.