Small loans, big impact.
The bank has operated its Prospera microloan program in Brazil since 2002. But last year it harnessed digital technology to dramatically speed up approvals, reducing the process from 10 days to 10 seconds. That enabled Prospera, which provides small low-interest loans to entrepreneurs (a quarter of whom live below the poverty line), to increase the number of business owners it supports by more than 50% in 2018; it’s on track to grow that number another 90% this year. So far, the nearly $2 billion it has extended in loans (ranging in size from as little as $25 to thousands of dollars) has gone to more than 700,000 entrepreneurs. There is evidence it’s making a difference, particularly in the most poverty-stricken areas: A study by Rever Consulting found that every Brazilian real granted via Prospera generated 4.5 times that amount in economic value.
Economic Opportunity/Financial Inclusion
|Prior Year Rank||-|
|Revenues ($M) (Last Fiscal Year)||$23,400|
|Profits ($M) (Last Fiscal Year)||$3,443|
|Market Value ($M) as of 8/12/19||$40,700|