Microfinance and Raspberry Fields Tea

daniel.vidalFoundation News, Supplier Partnerships

A Big thanks to Jordan from Honest Tea for sharing this blog post.

Have you checked out a bottle of Raspberry Fields Tea from Honest Tea recently? Did you know each time you purchase a bottle you are supporting small business entrepreneurs in developing countries through their partnership with Whole Planet Foundation?

As most of you know, Whole Planet Foundation’s mission is poverty alleviation through microcredit in communities around the world that supply Whole Foods Market stores with products (Honest Tea included!). Earlier this year they partnered with Whole Planet Foundation for the launch of our new Raspberry Fields Tea. A portion of each sale directly gives back to individuals who are taking brave steps as entrepreneurs in escaping the poverty cycle.

Microcredits are basically small loans requiring no collateral, provided to entrepreneurs who are looking to grow their unique business, yet lack the basic infrastructure to do so.  Common purchases using microcredit include sewing machines for textiles, cooking supplies for a local restaurant owner, transportation vehicles and irrigation equipment for farmers.  All of this is being done a repayment success rate of 96%.

As of this year we have are more than 70 projects in 55 countries around the world being impacted by Whole Planet Foundation.  Some interesting facts include:

  • 90% of microcredit clients are female
  • An estimated 1.4 million people are being supported through  Whole Planet Foundation microcredit funds
  • The average first loan size in the developing world is $162—which appears to be a small amount, but creates a large impact in a developing nation where half the population lives on less than $2 a day. .
  • $34,570,574 funds have been committed for microcredit work through Whole Planet Foundation since inception.

Pick up a bottle of Raspberry Fields today and help spread the word about microfinance empowerment! To see how you can get involved further check out Honest Tea and Whole Planet Foundation on Facebook.