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The Microloan Foundation (MicroLoan) is a UK-based microfinance charity making small business loans to women in Malawi and Zambia in Southern Africa. To date, MicroLoan has provided over 34,000 loans to some 15,000 clients.
History of MicroLoan
Founded in 2002 by Peter Ryan, MicroLoan is now run from London by a management team of five and an active board of trustees who give their time on a voluntary basis.
The organisation has grown considerably since opening its first office in a garage in Malawi: it now has 15 offices and 52 Loan Managers in Malawi, lending to over 680 women’s groups. MicroLoan has a current repayment rate of 98%, meaning that once repaid, the money can be recycled into providing new business loans for the rural poor.
MicroLoan is also active in the Philippines where it supports the activities of the Philippines Self-Help Foundation.
MicroLoan's patrons are Bob Geldof, KBE, the Bishop of Kensington and TV presenter Gabby Logan. Bob Geldof says microfinance is “such an obvious and important concept, it beggars belief it was not conceived of earlier.”