Our speaker, Nigel Deakin, updated the Club on the activities of Lendwithcare, an initiative by the charity Care International UK, which facilitates microfinance to entrepreneurs in developing countries. He explained that the idea behind the scheme is to enable individuals to help themselves and improve family income, thereby working their way out of poverty.
The businesses make an application through a local agent, by way of a business plan with background information, which is then posted on the Lendwithcare website. ’Investors’ then choose which projects to support. Any individual or organisation can provide support and in any amount, usually by small amounts spread across a range of projects.
Nigel reminded members that the Club have for a few years held a small fund with Lendwithcare to facilitate such loans. The fund has been utilised eleven times for a number of differing ventures in several countries, with all loans having been fully repaid. Thus, a small amount has, over the years, had a significant impact by helping eleven business and their dependant families.
Nigel gave a concise and informative presentation, illustrated by videos, and answered questions, all of which was much appreciated by the Club members present.
You can learn more about LendWithCare here: https://lendwithcare.org/