AUSTIN, Texas (May 27, 2015) – Whole Planet Foundation has now funded 1 million microloans worldwide, empowering impoverished individuals in 65 countries to start or expand a home-based business.
Launched in 2005 by Whole Foods Market, Whole Planet Foundation alleviates poverty in communities where the grocer sources products. Less than a decade later, the foundation has granted more than $64 million to microfinance partners across four continents, serving a total of more than 5 million people.
“With no collateral, credit history or a contract required, microloans offer many people something they’ve never had before – a chance to take their future into their own hands and gain financial independence,” said Philip Sansone, president and executive director for Whole Planet Foundation. “That impact extends far beyond the individuals receiving loans. It improves the quality of life for their family and most important, it can break the cycle of poverty for future generations.”
Microloans have helped low-income entrepreneurs, mostly women, start or expand a variety of businesses, including artisan goods, prepared foods and food carts, small shareholder agriculture, livestock, at-home bakeries and flower stands. For more information about Whole Planet Foundation, or to make a donation, visit www.wholeplanetfoundation.org.