Asian Credit Fund LLC (ACF) was established in 1997 by Mercy Corps to implement a micro and small business lending program. Currently, ACF is the third largest microfinance institution in Kazakhstan ranked by clients. The owners of ACF are BOPA (Base of Pyramid Asia) and Karavella Invest LLP owned by ACF employees. ACF provides innovative financial products and services largely to women in underserved rural areas and supports its lending with training, consulting and other community development services. ACF is committed to making a positive contribution to the everyday lives of vulnerable populations across Kazakhstan.
ACF’s financial services are designed to promote the development of rural households, the growth of small businesses, and home ownership in cities and villages throughout the Republic of Kazakhstan. With its headquarters in Almaty, ACF has a network of rural offices throughout the country.
ACF adheres to a niche community lending model, providing tailored financial solutions, business advice and technical assistance to its clients. These services are provided both di-rectly by ACF’s highly-trained personnel and through targeted referrals made to members of ACF’s partner network.
History
ACF obtained SMART campaign certificate to confirm implementation of internationally recognized principles of clients’ protection.
ACF successfully completed the second round of equity financing at the expense of own funds of two investors: existing shareholder BOPA (Base of Pyramid Asia) and new investor—Karavella Invest LLP whose founders are ACF employees.
Future Plans
ACF envisages continued geographic expansion into rural areas of Kazakh-stan while increasing the institution’s level of sustainability and efficiency.