If her credit had been denied, as was written on the outside of the envelope, Sandra of Caldwell would have been more concerned.
“Probably doesn’t fall into your category of unlikable solicitations, but truly dislike this envelope coming to me with my name and address and the words: Credit denied,” she says.
The enveloped contained a plea from FINCA, a non-profit organization committed to breaking the cycle of poverty for the women and the working poor. FINCA provides small loans, savings programs, insurance protection and other financial services. The organization reports that it concluded 2009 with 717,217 microfinance clients in 21 countries across Africa, Eurasia, the Greater Middle East and Latin America and had an outstanding loan portfolio of $322.3 million. In 2009, FINCA disbursed $682.2 million in loans.
The organization’s clients include women, who make up 70 percent of the world’s poor; people unable to find work in the formal sector; families displaced by conflict; the rural poor; and those affected by chronic poverty. A majority of FINCA’s clients are impoverished traders, selling goods such as produce, shoes, clothing, charcoal, poultry and fish. Others cook and sell food, produce crafts, or run beauty salons or bicycle repair shops, while increasing numbers of FINCA’s clients work in agriculture.
BBB’s Wise Giving Alliance reports that FINCA does not meet all 16 Standards. The failures are in board compensation, audit report, and a detailed expense breakdown. The report indicates the organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purpose.
The solicitation is legitimate.
In 2011, consumers turned to BBB more than 100 million times for BBB services such as Business Reviews on more than 4 million companies and Charity Reviews on more than 11,000 charities, all available any time at www.bbb.org.
“While I know this has nothing to do with my credit – it is a complete disregard for me and totally ticks me off,” Sandra says.