Make a loan, change a life Nancy Thomas CARE International 17 th April 2013

What is microfinance? Microfinance is the provision of financial services for low- income people. This includes micro-loans, savings, micro- insurance, money transfers and training. Usually provided through specialist microfinance institutions (MFIs) rather than commercial banks. UN Year of Microcredit in 2005 and Muhammad Yunus and Grameen received Nobel Peace Prize in What is microfinance?

Despite growing international attention, 2.5 billion people, most of whom live in developing countries, still lack access to basic financial services At CARE we believe that fair & effective financial services are central to addressing poverty And we have seen in the two decades we have been working in microfinance that providing people with appropriate financial tools & training can have a transformative effect on their lives – helping the poorest earn a living, grow businesses & create new jobs If not delivered well, it can worsen economic and social situations and result in, for example, over-indebtedness and worsening gender relations Why is it important?

Lendwithcare is a microfinance project implemented by the charity CARE International UK. It allows individuals/groups to lend small amounts of money (microloans) to entrepreneurs in developing countries to help them grow or expand their small business. Individuals visit the website – - and choose an entrepreneur to lend to. They can lend as little as £15 or the full loan. How it works video What is lendwithcare?

The entrepreneurs repay the loan back to you, then you can choose to re-lend to another entrepreneur, donate the repayments to CARE or withdraw the money. We work through local MFI partners in Togo, Benin, Philippines, Cambodia, and Ecuador (with strong social development missions who provide more than just finance). We are soon to start working with new partners in Pakistan & Indonesia & exploring partnerships in Bosnia & Herzegovina, Zambia and Malawi. What is lendwithcare?

1.The Entrepreneur has an idea 2.The microfinance institution (MFI) gives a loan 3. The Entrepreneur appears on lendwithcare.org 4. You cover the loan 5. The Entrepreneur grows their business 6. The Entrepreneur repays your loan 7. You decide what happens next

Supports small businesses, creates employment and generates wealth as well as promotes self-reliance and independence in poor communities. Very transparent - all funds go to the MFI, we do not charge interest or take anything in administrative costs. Lenders receive their money back (approx. 97% go on to re-lend) – the funds keep revolving and continuing to help people. What are the benefits?

Supporting female entrepreneurs

Celebrity ambassadors Stacey Dooley (BBC3) Kate Garraway (ITV) Deborah Meaden (BBC)

Rotary International Support

Progress to date To date: 10,000 lenders 62,000 loans £2 million in loans value 3,900 fully funded entrepreneurs 4 Rotary Districts & 24 Rotary Groups – at least!

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