Michael Jordan Supports Micro Loan Charities

Many charity organizations can be considered to be micro loan charities because they rely on a wide range of donations and support rather than a handful of large donations by philanthropic organizations.  One micro charity that has received the attention of sports legend Michael Jordan is the Make-A-Wish Foundation.  Jordan has been working with Make-A-Wish since 2001 and has raised over $5 million.

This year is no different.  The 2011 Michael Jordan Celebrity Invitational has once again made a sizable donation to the micro charity with a total of $100,000.  The funds will be used to help people support the wishes of children with terminal or life-threatening diseases

Granting Wishes

The idea is that a wish experience brings happiness to those children who make a wish, making them stronger and more able to fight against life-threatening medical conditions, according to Make-A-Wish Foundation of America’s President and CEO, David Williams.  He also thanked Michael Jordan for his donation saying that the charity was grateful for Jordan’s continuing commitment to empowering children through the foundation’s wish-granting mission.

Jordan is also one of the people that granted a child’s wish.  Marc Garcia, a 16-year-old boy from Kunkeltown, PA met his basketball idol in a private chat.

“It was an honor to grant Marc’s wish and enable everyone associated with the Michael Jordan Celebrity Invitational to see how their commitment is helping young people like him realize their fondest wish” said Jordan.  “I’ve seen over and over how the Make-A-Wish Foundation brings happiness and positively impacts a child’s life with an unforgettable wish experience.  Through our charitable efforts, more children will see their wishes come true.”

Those who want to donate to a micro loan charity such as this can donate online.

Semper Fi Fund Micro Loan Program

Micro Loan Program News: Celebrity and game show icon, Bob Barker has made a $2 million donation to the Semper Fi Fund (SFF).  The SFF is targeted towards providing various types of assistance to injured members of the U.S. military and their families.  Barker, a fighter pilot during World War II, hopes that the donation will offer support for young Veterans and will encourage others to donate to the fund, which offers emergency financial assistance, micro credit and grants to those that have been injured while in service and support to the Marines.

The Semper Fi Fund (SFF) was founded in May 2004 by Karen Guenther, a registered nurse.  Guenther was the wife of a Marine who had experienced first hand some of the challenges faced by wounded Sailors and Marines returning home from Afghanistan and Iraq.  Guenther joined other military spouses to establish IMSFF.  A great portion of the organization’s efforts surrounds offering micro credit through a micro loans program.

SFF Micro Loans Program

A micro loan affords people the opportunity to get back on their feet after an encounter with adversity.  Many people are not eligible for conventional loans.  In the case of SFF, the funds given to Veterans are issued in the form of grants that do not need to be repaid.

SFF gives military personnel and their families financial support to help aid in recovery, obtain medications, provide home modifications, transportation and special equipment.  Due to its micro loan program, to date SFF has disbursed approximately 26,000 financial grants with a total of more than $46,000,000.00!

Micro Loan Program Fast Becoming Fashionable Among Celebrities

Incorporating a micro loan program is one of the most effective and affordable ways to support a charity. In addition to online donations given by supporters, recipients may receive financial assistance to help them get back on their feet. Another term for this type of program is crowd funding, which simply means that the program relies on support from many sources rather than a few large contributors.

Oxfam’s Micro Loan Program

Oxfam, a well known charity, is one such program that helps people to combat poverty by dedicating funds to specific areas while only a very small percentage of each donation goes to training and operating costs.

The most recent charity event held by Oxfam was a kick off to a month-long program where 100% of all donations went directly to a charity. Oxfam is determined to show that 100% giving is possible and aims to make it more common throughout charitable organizations.

The first event involved wallets being donated by various celebrities and fashionistas, including popular band The Hoosiers, along with Daisy Lowe, Edith Bowman and Gizzi Erskine. Each wallet includes a ‘purse-onal’ message or item from the celebrity.

Some of the items include:

• Gizzi Erskine: Miu Miu cardholder
• Daisy Lowe: sequined purse by Lulu Guinness
• Nick Hewer (The Apprentice): Black leather card holder
• Edith Bowman: Vintage coin purse
• Pearl Lowe: Green Vivienne Westwood wallet
• The Hoosiers: Well traveled leather wallets
• Levi Roots: Black wallet with leather dividers
• Martin Lewis: Wallet with lock and chain

The number of charitable organizations adopting a micro loan program is rapidly growing and looks set to only continue.

Stars Support Micro Loan Donations

Micro loan donations are at an all time high, thanks to the ease of use many charity websites offer, as well as the support of celebrities from across the world. The “17th Annual Screen Actors Guild Awards” is a prime example of major movie stars giving back while encouraging others to get on the bandwagon to support various causes. After the Screen Actors Guild Award, stars attended an exclusive charity after party to honor various philanthropic causes including those supported by the SAG. The hosts of the event, People Magazine and the Entertainment Industry Foundation, were proud to support the 15^th annual Screen Actors Guild Post-Awards Gala, giving recognition and raising awareness.

Making Micro Loan Donations is Simple

Microgiving makes it easy to help people in dire need of assistance and shows that an online donation does not have to be a large philanthropic event. In fact, most charitable organizations will state that while the large donations are sought after and greatly appreciated, it is usually the less substantial donations that add up to help with bills or special needs not covered by the budget.

It is easier than ever to make micro loan donations, especially if you connect Microgiving to your Facebook account, giving your friends, colleagues and acquaintances the opportunity to support a specific cause, one that might not receive attention in a more traditional manner.

Micro Loan: Not All that Glitters is Gold in India

Women’s empowerment through a business micro loan may be losing its way in India. More and more women in business are accepting individual loans through non-banking micro finance companies (MFCs) operating in India. It should be noted that these lending programs are operating with the approval of the Reserve Bank of India (RBI).

A Micro Loan Becomes Difficult to Repay

Since the beginning of micro financing in 1994, approximately 80,000 groups representing one million business members have received micro funding. This lending program has been a success, to the extent that thousands of women have received much needed financial help.  However, with many non-banking MFCs entering the market simply to create profitability through exorbitant interest rates, the increased lending is NOT good.

Micro financing occurring through non-banking MFCs comes at a higher interest rate, often as high as 39%. MFCs lend to multiple individuals within a business group or company, versus lending to the group, or business entity. These individuals often become mired in debt as they borrow from one MFC to pay another. Women applying for these loans may be borrowing from four to six lenders at a time, with an average loan of $200 to $600 per lender. This debt load causes desperation among the borrowers, especially when the loans are being made without real income generation to support the micro loan.

Micro loans were developed to bring the very poor out of poverty. Microgiving encourages borrowers to be aware of MFCs operating to make a fast profit at the expense of the most needy.  Deal only with reputable lenders – or individual programs – that support micro financing for the purpose of helping the needy rather than creating the opportunity for profit.  If you are in need of short-term funds and would be interested in a micro loan, or would like to join our list of donors to help others, please visit our website.