Since July 2016 we have been supporting CARE International’s micro-finance initiative LendWithCare, which allows us to make small donations to entrepreneurs in developing countries. The loans help build self-sufficiency and local economies. This month we made three new loans in Vietnam, Pakistan and Zambia, totalling £215. Since the project began we’ve loaned more than £1,000.
This month we made three new loans supporting small businesses in Zambia, Vietnam and Pakistan. The loans are part of a micro-finance initiative which we support through LendWithCare, which is run by CARE International.
The scheme allows us to part fund loans to small businesses which help the recipients to become self-sufficient and expand their businesses. This helps them and their families, but also benefits the local economies, and in the medium term helps to reduce the need for aid. The loans are repaid, and we are then able to re-invest the funds in future loans.
Easy Does It Group: Zambia
We provided £139.06 towards a total loan of £1,469.06 which is due to be repaid over 5 months.
As the name suggests, Easy Does It is a group which comprises 20 well established business ladies. The women of this group are aged between 23 and 56 and all of them are married and have children who go to school. The women also look after school going orphans. These women are able to support their families financially from the profits of their businesses and this has made them more determined to grow their businesses further. Constance Twaali is a member of this group. She is 31 years old and married with four children who are in school. She is really talented at plaiting hair and so she decided to open a salon so that she can make a living out of her talent. She now has a lot of customers so her stall is pretty busy and she has employed two ladies who help her in the day to day activities of her salon. She has requested this loan to order more stock of hair extensions, hair relaxer and some cosmetics. She has been able to support her family from the profits she makes from this business and it’s her hope to now buy a piece of land where she can build a house for her children.
Nadeem Hussain: Pakistan
Nadeem Hussain is a taxi rickshaw driver. He is married with two sons and two daughters, all of whom are in school. He lives in Badami Bagh but works throughout the city of Lahore, wherever a fare might take him. He has difficulties of late working as his vehicle is in poor condition, not only in driving but in attracting customers. Nadeem Sahib requested a loan in order to take his rickshaw to the garage for repairs and a service.
We provided £15.94 towards a total loan of £180.94 to be repaid over 17 months.
Bui van Sang: Vietnam
We provided £60 towards a total loan of £455.94 to be repaid over 2 years.
Mr. Sang is 32 and married with 2 children. They live in the Tan Phong commune of Hoa Binh province. The family gets its income from farming activities. They grow rice and sugar cane, as well as rear pigs and chickens. Mr. Sang wants to provide his family with better living conditions. He also wants to renovate their kitchen that is worn out and inconvenient. To achieve this, he has decided to expand his chicken livestock business.