Company Profile
Company Overview
Opportunity International, the world's largest Christian microfinance organization, is committed to solving global poverty. By providing small business loans, training in basic business practices, counseling in personal development and other financial services to women and men living in chronic poverty, Opportunity International sees lives transformed. Small loans - sometimes as little as $50 - allow poor entrepreneurs to start or expand a business, develop a steady income, provide for their families and create jobs for their neighbors. Motivated by Jesus Christ's call to serve the poor, Opportunity International assists women and men of any faith and no faith.
Company History
Opportunity International was founded in 1971 by two visionary leaders who were moved by the hunger and poverty of people in developing countries. Al Whittaker, former president of Bristol Myers International Corporation in America and Australian entrepreneur, David Bussau, sought a solution that would transform people's lives without creating dependency.
The mission of Opportunity International is to empower people in chronic poverty to transform their lives. It does this by providing small business loans, training in basic business practices and other financial services, such as savings and insurance to poor entrepreneurs so they can develop a steady income, provide for their families and strengthen their communities.
In 1992, Opportunity International began to focus on serving poor entrepreneurs at even lower levels of poverty. The Women's Opportunity Fund was formed and it started an innovative group-lending methodology called the Trust Bank. Trust Banks bring together 15-40 poor entrepreneurs who co-guarantee each other's loans. Trust Bank members meet weekly with their loan officers to repay their loans and receive business and personal development training. Opportunity International has microfinance programs in Africa, Asia, Eastern Europe and Latin America. In 1998 the Opportunity International Network was formed. Funds from individuals, governments, corporations and foundations funnel into the Opportunity International Network - 43 programs in 28 developing countries. These programs are led, managed and staffed largely by indigenous professionals who understand the culture of the people they serve and the challenges and opportunities of the local marketplace.
In 2000, Opportunity International began establishing formal financial institutions (FFI) to broaden the financial services it can provide. FFIs take the form of commercial banks, development banks or credit unions and can accept deposits, borrow money and accept investments. These FFIs are “microfinance banks for the poor” and are often regulated by the country's Central Bank.
Today, Opportunity International serves more than 810,000 poor entrepreneurs and expects to be serving 1 million annually by 2007, and 2 million annually by 2010.