The MicroLoan Foundation, a responsible and non-profit UK microfinance charity, has received a £2,000 donation from the eBay Foundation, the charitable arm of successful online auction website, eBay. The donation will fund loans to women in sub-Saharan Africa, enabling them to start successful, self-sustainable local businesses and raise their families out of poverty.
The MicroLoan Foundation was initially nominated by Brad Matthews, co-Chair of eBay’s London GIVE (Grant-making and Inspiring Volunteerism Everywhere) Team. Each GIVE team recommends a select group of charities that the eBay Foundation should support.
“Any employee can nominate a charity that they are passionate about, and during voting it became clear that the MicroLoan Foundation was a popular choice. Many of my colleagues felt that the charity’s focus really matched eBay’s ethos and charitable aims for entrepreneurs,” said Brad Matthews. “I believe in the power of giving people the tools to help themselves, and having been involved with the charity, it was only natural to nominate the MicroLoan Foundation when the opportunity arose.”
The MicroLoan Foundation provides microfinance (small loans of on average £70), business education and ongoing personal mentoring support to impoverished women living in remote rural areas in sub-Saharan African countries. “We started the charity nine years ago, with £10,000 and a local Malawian employee working from a garage,” said Peter Ryan, MicroLoan Foundation CEO. “This donation from eBay enables us to continue to support local communities by providing microfinance and business training to female entrepreneurs in Africa, mirroring the eBay Foundation’s own charitable aims.”
The eBay Foundation was established in 1998 – and has since contributed over $21 million to charitable organisations around the world – with the aim of empowering communities by linking local people to resources. The Foundation supports the charitable giving of eBay employees through its GIVE team programme.
About MicroLoan Foundation
The MicroLoan Foundation is a responsible and non-profit UK microfinance charity that provides microfinance (small loans of on average £70), business education and ongoing mentoring support to impoverished women in sub-Saharan Africa. This provides them with a “hand-up not a hand-out” so they can develop self-sustainable livelihoods for themselves and their families, and work their own way out of poverty. 99% of the loans are repaid and then recycled in full to help more women year after year.
In addition to visiting the MicroLoan Foundation, more information is available via Twitter, Youtube and Facebook.
About eBay Foundation
The first corporate foundation endowed with pre-IPO stock, eBay Foundation was established in 1998 to stretch the boundaries of eBay’s virtual village, enriching and empowering communities by connecting people to opportunities and resources. Since inception, the Foundation has contributed more than $21 million to non-profit organizations worldwide. The Foundation engages eBay Inc. employees and supports their pursuit of charitable giving and volunteerism through its GIVE Team program. In addition, using a unique combination of foundation funding, employee volunteerism, and other resources, eBay Foundation has created The Opportunity Project to extend the company’s commitment to global citizenship. By scaling social innovations that create economic opportunity, The Opportunity Project gives people in need the chance to participate in the global economy, provide for their families, and build stronger communities. For more information: www.theopportunityproject.org.