As for many organizations around the world, Covid-19 lockdowns affected microfinance organization Lendwithcare's work and how it supports others.
Earlier in year we learned from Lendwithcare (founded by charity CARE International) that their loans were not being disbursed as usual - likely due to lockdowns here and around the world. Thankfully, since then it seems that things have improved and that loans are being made and repaid again (although we have been told repayments may be affected by the situation.)
Lendwithcare aims to help people in developing countries out of poverty by providing them with small loans for entrepreneurial ventures. Now, more than ever it's important that we help support small businesses around the world - so it's been great to have this avenue open to us to do so,
Since we opened our account back in 2016 we’ve helped to fund a total of 199 loans; these have helped 1014 entrepreneurs and created 705 jobs. We're told that over 3100 family members have been helped as a result of our loans.
Recent loans have gone to Destiny group in Malawi to buy items they can sell at market stalls; a 60-year-old farmer and father-of-seven to purchase seeds, organic fertilizer and an irrigation system; and a 45 year-old mother-of-three to buy fabric, wool and thread for her garments business. Destiny Group has already completely repaid its loan.
Different people and groups (including various Rotary Clubs) support Lendwithcare entrepreneurs in different ways - our club chooses to provide small loans of around £15 to a number of entrepreneurs. This means that those entrepreneurs still need to get backing from others before they receive the loan.
We will be giving out more loans in the near future.
To see who else we are supporting with our Lendwithcare account click here.
If you're interested in supporting Lendwithcare or want to find out more about them, click here.
Picture: Screenshot of our Lendwithcare account.