Chiswick Charity MicroLoan Gets City Funding Support

Chosen as Charity of the Year by women's business group CWN

The Chiswick-based charity, the MicroLoan Foundation, has been selected as Charity of the Year by the professional women's networking group, City Women Network.

This means that influential women working in the City will help the charity which provides seed loans to women in impoverished villages in Africa, helping them to start small businesses and rise out of poverty. In countries like Malawi over 40% of the population live below the poverty line.

The partnership will result in a number of joint activities throughout the year that will include two fundraising events, regular updates on the charity’s progress and pro-bono support from CWN members.

Members of the CWN group at a recent event

The Chiswick-based MicroLoan Foundation is a microfinance charity registered in both Scotland and England that provides small loans (on average £50), business training and on-going mentoring support to women living in extreme poverty in rural sub-Saharan Africa. This enables them to develop self-sustainable businesses to support themselves and their families, and work their own way out of poverty.

The first of the fundraising activities will take place at CWN’s summer drinks where a raffle will be held to help support women in need in Malawi and Zambia. This will be followed by more fundraising at the CWN Gala Dinner taking place in September.

Throughout the year CWN will encourage its members to actively participate in initiatives with MicroLoan. This will include understanding the issues faced by impoverished women in Malawi and how they can help. Select CWN members will also have the chance to visit the Central Region of Malawi by undertaking challenge events that will raise vital funds that help and support women build businesses that provides for their families. In Malawi 41% of the population live in poverty and 52% of people are completely excluded from all financial services.

Sara Bowcutt, Head of Fundraising at MicroLoan said: “Working with City Women’s Network is going to be an exciting year for the Microloan Foundation. There are many talented members that will be helping us to not only raise awareness of what we do but to achieve our goal of helping the poorest women in Africa through difficult times. We’re enthused by the access to their member’s knowledge and expertise that will help us build on the activities we already have in place and make 2013 another successful year.”

 Brenda Trenowden, President of the City Women Network and Managing Director, Head of UK & Ireland, Global Client Management, BNY Mellon said: “We are delighted to be able to support fellow women in business in Africa and in particular such driven and entrepreneurial women as those who come to Microloan. As businesswomen, we all know the importance of that kick start whether it is cash, support or advice – all of which can make such a difference.  Not only are we able to support MicroLoan financially, we are encouraging them to call on our members for their help and expertise as they need it throughout the coming year.”

April 25, 2013