History of MicroLoan Foundation
The MicroLoan Foundation was founded by British businessman Peter Ryan (now the Charity's CEO) following visits to the Philippines and Malawi. In 2002, MicroLoan made its first loan in Malawi with one man operating from the back room of a garage on a bicycle.
Over the past decade, the organisation has grown rapidly. This was boosted by support from the Daily Telegraph 2006 Christmas Charity Appeal as well as the patronage of individual philanthropists and companies including Innocent and The Body Shop.
2008 also saw the establishment of donor-led fundraising offices in both the United States and Australia. As a result, MicroLoan Malawi was able to treble the number of loans it made from 7,500 in 2007 to 23,000 that year.
Since inception, the Malawi operation has made over 50,000 loans to some 20,000 women, directly impacting the lives of about 120,000 family members and dependents. For the second year in succession, repayment rates on loans in Malawi remain at 99%, a strong indication that offering more credit has not led to any decline in the quality of MicroLoan clients.
If you would like to be kept up to date with our progress throughout the year, you can do so by joining our mailing list.
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