Lendwithcare update, August 2023

Over the last few months our International Committee has been pleased to be able to give 14 small loans to entrepreneurs in developing countries via microfinance organisation Lendwithcare.

Lendwithcare aims to help people in developing countries out of poverty with such loans. In the past we have given loans of £30 to each entrepreneur that we support, but this amount was increased unanimously by members of the International Committee to £45 because they viewed the loans as a good way of helping a wide range of people in the various countries that Lendwithcare works. Recent loans have focussed on farming activities, but in the past we have supported a number of other areas of entrepreneurship.

We opened our account in 2016 and since then we're delighted to have helped fund 278 loans in total - this means we've helped 1183 entrepreneurs and created 827 jobs since we started. According to Lendwithcare, over 3783 family members have been helped thanks to our loans.

Most recenty, we have goven loans to entrepreneours in Cambodia, Nicaragua, Rwanda, Vietnam and Ecuador. The loan to Nicaragua, for instance, was given to a farmer called Francisco Apolinar, from  El Castillo. Francisco requested a loan totalling around £2,800 to establish a plot for ginger cultivation. He plans to acquire ginger seeds, fungicides, rooting products, and tools to plant and transport the crops. He aims to repay his loan in two instalments over a 24-month period. Francisco is now fully funded, so we look forward to receiving our first repayment in a few months time.

You can find out more about Lendwithcare here - or click here to find out more about the support that our Rotary Club has provided to Francisco and others. (There are many other Rotary Clubs that also lend via Lendwithcare.)

Picture: Screenshot of our Lendwithcare account showing how we have helped since we opened our account. 

Tuesday 15th August 2023

Published by: The Rotary Club of Canterbury

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