In January, we wanted to make good on some new years resolutions and make a difference to entrepreneurs in developing countries.
For the whole of January, we “lent” our subscription revenue to Lend with Care to pass on as loans to entrepreneurs in less privileged countries.
Lend with Care is an innovative microfinance charity; pairing up entrepreneurs in developing countries with people in more fortunate parts of the world, who loan those entrepreneurs money in order for them to transform their lives through business.
To date over 25,000 lenders have made 251,510 loans and lent over £8m to 27,567 entrepreneurs in 11 countries providing 32,976 jobs – that’s a measurable difference!
It was a difficult decision to choose who to donate to on the Lendwithcare site, as we really wanted to choose them all. They all have great stories, and are looking to improve their businesses to help their families and are also trying to improve the environment they live in.
After much thought, we choose four different businesses to lend to:
Mr. Kien wants to diversify the sources of income and he chose to rear buffaloes because it is profitable in his region. He applied for a loan, which is to be used to buy a young buffalo.
Growing rice and rearing 2 buffalo help them to bring 120 USD per month on average.
Mrs. Ninh hopes to expand her breeding business by rearing one more buffalo.
To increase their income and make it better Mrs. Ra wants a loan in order to purchase another small plot of land around 1,600 square meters to grow sugarcane.
Mr. Du requested a loan to finance the installation of a household biogas plant. The biogas plants accepts mainly animal manure but also other organic waste. Then it converts them into biogas which is then piped into the home and used for cooking, lighting and even heating. This will help reduce electricity cost and save a lot of time spent travelling to collect firewood. Therefore, deforestation will be reduced and the living environment will be much healthier.
A few days later, we learnt that Nguyen van Du is now fully funded, so he’s on his way to realising his dreams for his business, which without Lendwithcare, he probably wouldn’t have been able to do. We’re looking forward to Bui van Kien, Bui thi Ninh and Ra Siem reaching their funding target too, so that they can get going with their projects.
Lendwithcare, is such a great idea, as it makes a real difference to entrepreneurs in developing countries, and it’s a ‘loan’, so you will get the loan amount back – so please lend any amount you can, to make a real difference today.
Here in the UK, we can help you to check the financial health of the businesses you’re trading with. For less than 50p a day, you’ll be able to see how good or bad a credit risk they are, and what’s most important to many small businesses – when they are likely to pay you. Sign up to CreditHQ so that you can get paid on time, and with that extra cash, please think about lending some to other entrepreneurs in developing countries, to help them improve their lives.