AUSTIN, Texas (Feb. 3, 2015) – With generous donations to Whole Planet Foundation, 19 companies are joining forces in 2015 to help more than 29,000 people worldwide lift themselves out of poverty through microcredit.
As members of Whole Planet Foundation’s $100,000 Fund and Supplier Alliance for Microcredit, each company has pledged $100,000 or $50,000, respectively, to support the foundation’s poverty alleviation programs across Africa, Asia, Latin America, and in the U.S.
“More than 40 percent of the world’s population lives on less than $2.50 a day, so every penny makes a real impact,” said Philip Sansone, president and executive director of Whole Planet Foundation. “For a woman living in poverty, a $200 microloan is her ticket to a fresh start–a viable opportunity to gain financial independence and provide for her family. We are so thankful to our partners for recognizing the incredible power of microcredit and supporting our cause.”
Whole Planet Foundation was established by Whole Foods Market as a way to give back to the global communities where the natural and organic grocer sources products. The foundation provides grants to microfinance partners worldwide, and the partners then disburse those funds in the form of small loans to individuals with the greatest need in the local community. With no collateral, credit history or contracts required, and an average repayment rate of 97 percent, the model is accessible and highly successful.
To date, Whole Planet Foundation has authorized $60 million in loans and has funded more than $¬¬38 million in microfinance programs in 61 countries, positively impacting more than 4 million people worldwide.
Whole Planet Foundation’s 2015 partners:
• Frontier Co-op
• Living on One
• Papyrus-Recycled Greetings, (the first company to become a $100,000 Fund partner in 2014)
• Whole Foods Market
Supplier Alliance for Microcredit ($50,000):
• Allegro Coffee Company
• Amazing Grass
• Garden of Life
• Hain Celestial
• Naked Coconut Water
• OneSource Magazine Distribution, LLC
• Rescue Remedy
• Rishi Tea
• Seventh Generation
• TEAS’ TEA
• Traditional Medicinals
For more information about Whole Planet Foundation and its $100,000 Fund and Supplier Alliance for Microcredit partners, visit wholeplanetfoundation.org.