By Cheryl Mahoney
Today, we’re excited to tell you about a UniversalGiving partner who’s doing great work for the world! The Hoop Fund is located down the hall from us at the Hub SoMa, and they also share our international focus.
The Hoop’s mission is to create a more connected marketplace, building links between consumers and the people who created the products they buy. The Hoop partners with entrepreneurs, artisans, and farmers, and invites the people who buy their products to help fund their work. The Hoop gives you two choices: you can directly fund a microloan to a project of your choice, or you can buy a bundle that combines a great product for you, and a microloan for the person who made it.
If you make a microloan, you get your money back when the loan is complete. They have a 100% repayment rate so far, and loan recipients are charged zero interest!
The Hoop has recently launched gifting features for the holidays. Every gift purchase also funds a microloan–or you can give a microloan on behalf of a loved one. So you can buy a sweater that also supports women weavers, or give someone a beautiful necklace, and help build a daycare center.
This is a great opportunity to think about where the things you buy are coming from. Contrary to the popular images, most gifts aren’t made by elves up at the North Pole. 🙂 With the Hoop, you’ll know who made the gifts you’re wrapping up, and you’ll know that your gift also supported a great cause. It’s an inspiring option for the holidays!