UPS has marked its 100th birthday with the creation of a Centennial Grants Fund and has awarded $1million to three global micro-lending organisations. The funds will be used to support programs for
entrepreneurs on three continents, including loans to grow small businesses.The three social organisations chosen by UPS for the funding are Opportunity International($390,000), ACCION International ($400,000) and FINCA International ($210,000). They were chosenbecause of their proven success record as micro-lenders, their ability to measure the impact oftheir programs and their presence in global markets. The organizations also are well-recognized forthe financial literacy and business training that goes along with their loans, ensuring that thebusinesses they fund are successful, UPS said.
Opportunity International will make loans to new clients in 15 countries around the world,helping nearly 5,000 poor entrepreneurs. ACCION International will use its funding to providemicro-financing in 25 countries, including Mexico and Brazil. FINCA International will use themoney to support its Village Banking Campaign, providing loans for an estimated 1,400 microentrepreneurs – mostly women – in 21 countries.
“In this year of UPS’s Centennial, there could be no better way to celebrate founder JimCasey’s entrepreneurial spirit than to award grants to foster opportunities for entrepreneursaround the world,” said Lisa Hamilton, president of The UPS Foundation. “UPS was founded in 1907 bya 19-year-old Casey, who borrowed $100 to start a bicycle messenger business. Today, his company isthe largest package delivery firm in the world.”
According to Hamilton, the creation of the Centennial Grants Fund marks the first time UPShas concentrated such a large portion of its giving on micro-lending. “Throughout our history atUPS, we’ve found that we grow by investing not only in our business but also in the communities weserve,” she added. “Micro-lending organizations are our direct link to new entrepreneurs as theyseek to strengthen their families’ financial well-being and contribute more robustly to theircommunities.
