Energy in Common (EIC) was a not-for-profit organization issuing microloans specifically and only for renewable energy technologies. EIC was founded by Hugh Whalan and Scott Tudman in 2009 (website launch 2010). It has the very ambitious goal of delivering renewable energy to 15 million people in the next five years, while fighting poverty by empowering developing world entrepreneurs through microloans. EIC represents one of the most promising contenders in the growing green microfinance sector. As of 2012, it has ceased operations due to a lack of funds after their overseas partners defaulted on their loan obligations.