Not long ago, many of the poor in rural, third world countries had dreams of starting their own business which were shattered by financial concerns. Today, these dreams could be achieved by a method called Micro finance innovated by Muhammad Yunus. The spawn of micro finance has spread rapidly in the recent years, which has lead to a social enterprise called Mercy Corps. In India, there are over 110 million people living on less than $2 dollars but only 50 million people can be served by the 50,000 micro finance institutions. Mercy Corps decided to tackle this problem by buying a failing Balinese bank and reopening for the exclusive use of micro finance only. This can create a large impact because it cuts the costs and inefficiencies for micro finance institutions which in essence will create an incentive to join Mercy Corps in serving the poor.
The CEO of Mercy Corps, Neal Keny-Guyer, is a true social entrepreneur. His corporation includes all five characteristics of a social enterprise: ambition, mission driven, strategic, resourceful, and results oriented. The new bank will be able to not only expand micro finance, but also influence the rest of the world to initiate on tasks not for themselves, but for others also.