Loan Guarantee Microfinance Investment Vehicle

United States of America

Last updated 12 May 2020, by Impactyield.

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MCE is a non-profit public benefit corporation that utilizes a loan guarantee model to help people living in poverty access credit and other financial services on fair terms globally.

By leveraging the balance sheets of high net-worth individuals and foundations, MCE borrows private sector capital, primarily through commercial loans from U.S. banks, which it then carefully deploys to microfinance institutions (MFIs) across the developing world.

Under its unique model, MCE has disbursed more than $95 million in loans to MFIs, which have in turn made more than 351,000 loans (valued at $157 million) to people living in poverty since its founding in 2006.

Asset class


Fund style

Not listed

Financial description

MCE takes a business-driven, social enterprise approach to its financial sustainability by covering its lean budget with earned revenue and maintaining a prudent level of liquidity reserves. MCE has been financially self-sufficient (in the black) since 2006. MCE currently has 84 Guarantors representing $103 million in loan guarantees. Over $50 million in loans have successfully matured and MCE’s portfolio companies currently have a 99.3% repayment rate. MCE maintains a ratio of 2:1 for Guarantees to portfolio value and this, along with the strong creditworthiness of its Guarantors, allows it to unlock traditionally domestic, private-sector debt capital to fund MFI loans.

17 years

of track record


the year funded

50,000,000 USD


Asset manager

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Increase aid for trade support

Increase access to financial services and markets

Key performance indicators

Fund overview

Asset manager: MCE Social Capital

Product track record: Fund has 17 years of track record

Target IRR: n.a.

Committed Capital: n.a.

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:


Inception year: 2006

Vintage year: 2006

Target region: , ,

Target close date: n.a.

Product term: 10 year term

Assets under management: 50,000,000 USD (US Dollar)

Investment size: Min: 75,000; Max: 2,000,000; Avg: 602,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 70

Fund investments to date exited or repaid: 83

Management fee: n.a.

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: No

Limited Partners / Investors: n.a.

Limited Partner / Investor Type: n.a.




Phone number: 4152304330.00

If you wish to have your details removed from this database please email

Ben Stone

Director of Strategy and General Counsel

Pierre Berard

Director of Portfolio Management

Impact Performance


Impact thesis

MCE prioritizes loans to organizations that serve a high percentage of women, operate in rural communities, and offer clients additional services like savings, mobile banking, business and health education, healthcare, or insurance (78% of MCE’s end borrowers are women and 79% live in rural areas).

Impact Management


Financial benchmark

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