Microloans

 The Estelle Trust and AshgatePublishing jointly financed the second branch of the MicroLoan Foundation in Zambia, opening it in Petauke in May 2010. By July 2011 it had established 31 loan groups comprising 417 clients. The loan book stood at over £20,000 and so far it has maintained a 100% repayment rate and is covering 75% of its own costs through the interest income generated.  Petauke branch is an integral part of MLF’s growing operation in Zambia, along with the original branch in Chipata and the one recently established in Lundazi.  For information on the MicroLoan Foundation and its mode of operation see “Partners”.