Whole Foods invests in microlending

AUSTIN, Texas Whole Foods non-profit arm, Whole Planet Foundation, today announced the creation of a unique coalition of natural foods companies -- Whole Planet Foundation Supplier Alliance for Microcredit. The Alliance has pledged $1.05 million over three years to help support the Foundation's microlending programs in developing world communities.

Partners in the alliance include Allegro Coffee Company, Back to Nature, Balance Bar, The Hain Celestial Group, ITO EN, Naked Juice, New Chapter, Seventh Generation, Stacy's and Whole Foods Market. The companies's financial commitment will directly support more than 32,500 people in 6,500 families through the creation of home-based businesses, the companies reported. The Foundation's annual operating budget and overhead will continue to be supported 100% by Whole Foods Market, which also invests $1 million annually to support microlending programs.

"Businesses developed with loans from the Whole Planet Foundation Supplier Alliance for Microcredit will be as diverse as agricultural production, animal husbandry, pastry and bread making, sewing, textile and other handicraft work," explains Philip Sansone, president and executive director of Whole Planet Foundation. "Microlending is a tangible path to individual economic prosperity, allowing individuals a chance to lift themselves out of poverty through their own ingenuity and hard work."