Petauke branch of the MicroLoan Foundation

The Estelle Trust and Ashgate Publishing jointly financed the second branch of the MicroLoan Foundation in Zambia, opening it at Petauke in May 2010.  Currently it has established 31 loan groups comprising 417 cleints. The loan book stands at over £20,000 and so far it has maintained a 100% repayment rate.  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.

Working with the MicroLoan Foundation

The Ashgate Publishing Group, together with the Estelle Trust, are pleased to have jointly sponsored the new Petauke Branch of the MicroLoan Foundation in Zambia. The MicroLoan Foundation extends small loans to women who would not qualify for conventional bank loans, to enable them to set up a small business. Microcredit has distinct advantages over charitable giving, as it is sustainable and creates independence from aid, not dependence on it. By giving a small loan to individuals, the Foundation hopes to give them the ability to work their own way out of poverty. More information about the MicroLoan Foundation is available on their website: www.microloanfoundation.org.uk.