GLASTONBURY, CT — Bear Pond Farm, a specialty brand of pestos and dips created by certified organic herb growers, today became the latest partner in the Microloan A Month Fund® of Whole Planet Foundation. The Foundation’s microloans, typically starting at less than $200 in the developing world, provide low-income entrepreneurs in 58 countries, including the U.S., an opportunity to gain financial independence and launch their own businesses.
In 2005, Whole Foods Market established Whole Planet Foundation as an expansion of its mission to be an active participant in the global community. The foundation was formed in partnership with Professor Muhammad Yunus and Grameen Bank, co-recipients of 2006 Nobel Peace Prize.
As of November 2013, Whole Planet Foundation is funding microlending programs through microfinance institution partners, supporting more than 1.95 million people with a chance for a better life. To date, the nonprofit has authorized more than $41 million and disbursed $29 million through microlending partners worldwide.
Bear Pond Farm joins more than 300 other Whole Foods Market suppliers supporting the Foundation. “Because Whole Foods Market covers the Foundation’s operating expenses, 100% of donations go directly to microloan clients, with an average repayment rate of 97%. That’s an impressive success,” said Kathleen Lenane, Bear Pond Farm co-owner.
Lenane and organic grower Craig Colvin started Bear Pond Farm in 2001. The original collection of unique, farm-made pesto flavors was “discovered” at the New York City Green Market by The New York Times, and today the company markets 45 tons of nut-free, gluten-free, non-GMO sauces to America’s top gourmet retailers each year. Bootstrap entrepreneurs themselves, partners Craig Colvin and Kat Lenane have valued the support and guidance of those who made their journey possible, and are delighted to help pay it forward through participation in the Foundation’s Microloan A Month Fund.
"Microcredit is proof that it doesn't take thousands of dollars to make a real, lasting difference in someone's life," said Philip Sansone, president and executive director of Whole Planet Foundation. “For example, a loan of less than $200 is enough for a microcredit client to invest in a sewing machine to make clothing to sell or buy a goat to begin a milk and cheese production business. They choose how to invest in their own lives to lift themselves out of poverty. ”
!Individuals also can support the Whole Planet Foundation by creating their own online fundraising page, or donating at wholeplanetfoundation.org.
About Bear Pond Farm
Founded in 2001, Bear Pond Farm is a specialty food company that sells pesto sauces and dips. Learn more at www.bearpondfarm.com.
Source: Bear Pond Farm
