Day 92: Invest in a business owned by a woman in a poor country

Lendwithcare is a microfinance initiative that enables people to make small loans to entrepreneurs in developing countries. It’s an innovative platform that connects lenders from around the world with individuals in need of capital to grow their businesses and improve their livelihoods.

The initiative was launched by CARE International UK, a global charity that works to fight global poverty and provide assistance to vulnerable communities. Lendwithcare combines the principles of microfinance with modern crowdfunding to create a powerful tool for positive change.

Here’s how Lendwithcare works:

1. Selection of Entrepreneurs: Local partners of CARE International identify entrepreneurs in developing countries who have viable business ideas but lack access to traditional financial services.
2. Entrepreneur Profiles: These entrepreneurs are featured on the Lendwithcare website, along with detailed profiles that describe their businesses, plans, and the amount of money they need to borrow.
3. Lending by Individuals: Individuals from around the world can visit the Lendwithcare website, browse through the profiles of entrepreneurs, and choose whom to lend to. Lenders can make loans as small as £15.
4. Business Development: Once the loan is funded, the entrepreneur uses the funds to grow their business. This might involve purchasing equipment, expanding their inventory, or hiring employees.
5. Repayment: As the entrepreneur’s business grows, they repay the loan in installments. Lenders have the option to withdraw their money or relend it to other entrepreneurs once the original loan is repaid.
6. Positive Impact: The loans provided through Lendwithcare help entrepreneurs build sustainable businesses, generate income, and improve the quality of life for themselves and their families.

Lendwithcare’s innovative approach empowers individuals to make a meaningful difference by directly supporting entrepreneurs in developing countries. It promotes economic development, self-reliance, and community empowerment while fostering a sense of global connection and empathy. The stories of the entrepreneurs who have benefited from Lendwithcare highlight the transformative power of microfinance and the impact that individuals can have when they come together to support others in need.