MicroCredit Enterprises founded in 2005. Research and development occurred in 2004 under the aegis of Freedom from Hunger, a non-profit microfinance network established in 1946.

During the United Nations' International Year of MicroCredit -- MicroCredit Enterprises convenes its first board of directors meeting and pledges itself to "the socially responsible purpose of providing financial credit and other services related to microfinance in order to alleviate poverty."

The Calvert Social Investment Foundation commits to provide a $3 million line of credit backed by MicroCredit Enterprises 'innovative guarantee model. Founding Guarantors sign the Philanthropic Guarantee Agreement, launching MicroCredit Enterprises' lending operations.

MicroCredit Enterprises ends the year with seven Guarantors. Thus, the individual pro rata, fair share Guarantor risk exposure per MFI loan default (in the event one should occur) is fourteen percent (14%).

Credito con Educacion Rural (CRECER) in Bolivia becomes the first recipient of a MicroCredit Enterprises loan. At the time of the loan, CRECER had 68,000 women clients, 70% of whom live in the mountainous Andes, with a repayment rate of 99.6% (average client loan is $185.00). Today, CRECER serves over 100,000 clients.

The first annual Guatemala Study Mission occurs. Eighteen delegates tour and study firsthand the moving impact of MicroCredit Enterprises' microloan financing.

MicroCredit Enterprises commits itself to non-financial pro-poor criteria for making microfinance loans. In addition to assuring an MFI is financially viable and creditworthy, MicroCredit Enterprises decides to give special consideration to microfinance programs that: (a) increase the number of poor clients served, (b) operate comprehensive social service programs, such as women's empowerment, health education or business training and (c) lower interest rates to impoverished client-borrowers.

MicroCredit Enterprises ends the year with 22 MFI partners financed in Armenia, Azerbaijan, Bolivia, Cambodia, Ecuador, Georgia, Indonesia, Mozambique, Nicaragua, Nigeria, Peru and Tajikistan.

MicroCredit Enterprises ends the year with 30 Guarantors. Thus, the individual pro rata, fair share Guarantor risk exposure per MFI loan default (in the event one should occur) drops to three and three-tenths percent (3.3%).

MicroCredit Enterprises converts to a non-profit organization in order to allow for the tax-deductibility of any future Guarantor losses (if any).

Tokyo Star Bank provides MicroCredit Enterprises with a $4.8 million loan backed by Guarantors. The first monies are used to finance an MFI in Cambodia.

The HunterDouglas Endowment for Microfinance Sustainability reaches the $1 million level. Operationally, this fund serves as a liquidity account or bridge financing to respond to unexpected financial emergencies in the MicroCredit Enterprises overseas loan portfolio.

MicroCredit Enterprises ends the year with 22 MFI partners financed in Armenia, Azerbaijan, Bolivia, Cambodia, Ecuador, Georgia, Indonesia, Mozambique, Nicaragua, Nigeria, Peru and Tajikistan.

MicroCredit Enterprises ends the year with 30 Guarantors. Thus, the individual pro rata, fair share Guarantor risk exposure per MFI loan default (in the event one should occur) drops to three and three-tenths percent (3.3%).

The annual Guatemala Study Mission, in its third year, continues to over-subscribe. For the first time, the trip features descendents of Mayan populations.

Permanent Fund to Alleviate Extreme Poverty established. Tax-deductible contributions to the Fund directly support microloans. No overhead, no administrative fees, no fundraising costs are paid for with donated money to the Fund. Every gift to the Permanent Fund provides perpetual benefits.

MicroCredit Enterprises continues to professionalize operations by employing a Deputy Chief Financial Officer, MFI Loan Portfolio Associate and an Administrative Director. The annual operating budget remains at just 3% of total MFI loans issued.

First Republic Bank provides MicroCredit Enterprises with a $10.2 million loan backed by Guarantors. The first monies are used to finance an MFI in Vietnam.

As Russian tanks rumble into the streets of Georgia, MicroCredit Enterprises acts to immediately reissue $140,000 in capital and liberalize repayment terms to Lazika MFI, a comparatively small MFI with nearly 6,200 clients.

MicroCredit Enterprises honored with 2008 Social Venture Network Innovation Award.

MicroCredit Enterprises honored by World Affairs Council of Northern California.

MicroCredit Enterprises has 28 MFI partners financed in Armenia, Azerbaijan, Bolivia, Cambodia, Ecuador, Georgia, Honduras, Indonesia, Kyrgyzstan, Mozambique, Nicaragua, Nigeria, Peru, Tajikistan and Vietnam.

MicroCredit Enterprises has 37 Guarantors. Thus, the individual pro rata, fair share Guarantor risk exposure per MFI loan default (in the event one should occur) is approximately two and seven-tenths percent (2.7%).