Transcript Bluefrog and its Research Department

Make a loan, change a life
Nancy Thomas
CARE International
17th April 2013
What
is microfinance?
What
is microfinance?
• Microfinance is the provision of financial services for lowincome people. This includes micro-loans, savings, microinsurance, 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 2006.
Why is it important?
• 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
What is lendwithcare?
• 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 – www.lendwithcare.org 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.
1.The
Entrepreneur
has an idea
7. You decide
what
happens next
2.The
microfinance
institution (MFI)
gives
a loan
6. The Entrepreneur
repays your loan
3. The Entrepreneur
appears
on lendwithcare.org
5. The Entrepreneur
grows their business
4. You
cover the
loan
What are the benefits?
• 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.
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!
Visit www.lendwithcare.org today!