Wisconsin Microfinance: Local nonprofit celebrates 10 years

MADISON – 2020 marks the 10th year of operations for the Madison-based non-profit, Wisconsin Microfinance. To mark this event, the 2020 Annual Report (https://wisconsinmicrofinance.com/news/) highlights a decade of successes. 

The 2020 Annual Report highlights the progress of Wisconsin Microfinance and the difference the organization has made in Haiti and the Philippines. Tom Eggert, the founder, and President of the Board believes, “Wisconsin Microfinance has created a unique niche and plays an important role in the developing economies of Haiti and the Philippines.  The loans we have funded have allowed families to send their kids to school, seek medicine to treat an illness and improve their living conditions. We are making a difference in the lives of real people.”

The 2020 Annual Report provides insight into Wisconsin Microfinance’s commitment to empower women through microfinance. In discussing Wisconsin Microfinance’s commitment to empower women, Trevor Franda, the organization’s second Executive Director explained, “Women in the developing world are usually those most marginalized in society and therefore have inequitable access to capital. The Annual Report highlights all the work Wisconsin Microfinance has done in empowering women and its continued commitment to give 80% of microloans to women.”

The work of Wisconsin Microfinance is done by an all-volunteer staff and according to the annual report, 94.2 percent of donations go directly to funding the microloan programs. Alen Amini, the current Executive Director noted, “Our ability to turn 95% of our donations straight into loans shows an unusual level of efficiency in a non-profit and reassures our donors that their donations actually make a difference in the life of a borrower.”

The 2020 Annual Report finds that the organization has provided funding for more than 1,500 loans, with over $300,000 being loaned to individuals in both Haiti and the Philippines. Jane McCurry, a board member of Wisconsin Microfinance, shared, “If the past year has shown us anything, it is that the future is unpredictable. What I can guarantee is that this organization will continue to prosper and stay committed to helping those most vulnerable around the world.”

Wisconsin Microfinance targets communities in extreme poverty that lack traditional access to capital.  By providing capital for individuals to start or grow a business, the organization enables economic development to occur at the individual family level and the community level.  For more information, see https://wisconsinmicrofinance.com/.

To view the annual report, or for more information, go to: https://wisconsinmicrofinance.com/news/