Our chairman & founder, Brian Keen, has asked me to write and thank you so much for your support and say many congratulations for helping to make it all happen!
We are delighted for your important contribution that is creating such a positive in helping motivated women in some of the poorest countries in the world to help themselves conquer poverty by their own efforts.
To date, MicroLoan Foundation Australia has remitted A$616,377 to southern Africa, including $56,599 in the current financial year to date! We estimate this has helped us provide over 59,000 business loans, training and mentoring to women in Malawi, Zambia and Zimbabwe. This has impacted the lives of over 350,000 borrowers and their dependents. This is the equivalent to the population of Central Coast of NSW! As more than 99% of these loans are repaid in full, we estimate we have now made total loans of close to A$5m.
And the good news is that, thanks to the continuing support of our directors and other volunteers, our total fund-raising costs are still ONLY 6.5%, which makes us more efficient than most of the more well-known charities in this country, and means more of your dollars goes to the cause – not to overheads. (refer to article which mentions that many charities exclude their significant marketing and costs from their declared cost of funds – whereas we do include ours).
Your Tax Invoice will sent in a month or so once our accounts have been reconciled.
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Keep fit, keep well, keep positive
Michael Jalandoni on behalf of
Published on: 02/07/2021