Press release, Babyloan €5 million lent
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€5 million were already lent on Babyloan.org, the first European philanthropic microcredit website, hence the platform recently achieved a new goal.
Babyloan enables internet users to support microentrepreneurs in developing countries by lending them the money they need to expand their activities and thereby get out of poverty. Babyloan stands out from a logic of assistantship as the internet users make loans instead of donations.
This new form of solidarity has already gathered a community of over 23,000 members in 141 countries. Thanks to them, more than 12,500 microentrepreneurs succeeded to create their own business.
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Press realease – February 2013
€5 million lent thanks to Babyloan,
French leader of philanthropic crowdfunding.
Since the website was launched in 2008, 22,500 “Babyloanian” members lent more than €5 million to nearly
12,500 microentrepreneurs in France and throughout the world.
Babyloan has known a 70% growth of its activities in 2012, which shows that philanthropic loans are successful even
if the number of donations has been decreasing (*Source: France Générosités). This new form of solidarity enables private
individuals to make interest-free loans to microentrepreneurs so that they can create their income-generating activities and
thus get out of poverty thanks to their own work.
Philanthropic loans are powerful and innovative. The leverage effect of this new tool allows using money several
times: once the lent amount is reimbursed to the lender, he or she can use this money once again on the website to
support another project. “Thanks to a very small amount of money, anyone can support a chicken farm or a grocery store
in France or in developing countries”, says Arnaud Poissonnier, founder of the platform. “It is essential to create platforms
of this kind in the current context, because solidarity is a crucial element for social cohesion”. 4,000 projects were financed
on Babyloan in 2012.
Babyloan is a crowdfunding pioneer. Thanks to crowdfunding funds can be raised from the general public to finance a
broad range of projects and activities (in arts, environment, entrepreneurship, etc.). In 2012 there were nearly 500
platforms of this kind all around the world and today new websites appear every day. When it comes to solidarity and
microcredit, crowdfunding allows the institutions and their clients to have access to the financial resources they need.
Microcredit is considered as one of the most efficient tools to fight poverty, according to the United Nations.
Babyloan key figures:
st 1 European philanthropic
nd microcredit platform, 2 worldwide.
30 new members each day.
1 loan every 10 minutes.
€200,000 lent each month.
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PRESS CONTACT: Laura Gouraud +33 (0)1 71 16 21 29 – laurapresse@babyloan.org
