Guest blog | A lender's experience meeting Lendwithcare entrepreneurs

Lendwithcare has recently lent £10 million to entrepreneurs across the world, and to celebrate, we are offering one lucky lender the chance to win a trip to Zambia to meet Lendwithcare entrepreneurs, and see the difference their loans have made.

Long-standing lender Gary Nicol shares his experience of when he met Lendwithcare entrepreneurs, by taking part in CARE's Vietnam to Cambodia cycle challenge:

It’s Financial Inclusion 2020 Week – but what happened to microfinance?

This week you may notice a lot of online discussion and social media chatter about financial inclusion, and how we ensure that low- and moderate-income people around the world have access to a full suite of quality financial services. And while this conversation is important, and this week gives those of us working in the sector the opportunity to galvanise support and mobilise action, it dawned on me that some people might be wondering: “What ever happened to microfinance?”

Promoting solar power in Pakistan

The city of Lahore is renowned as the literary, educational and cultural heart of Pakistan and has a long history of beautiful architecture dating in particular from the Mughal period with buildings such as the Badshahi Masjid and the Shahi Qila or Lahore Fort.

Shakeel and Rehan from Akhuwat on the roof  where the solar panels are located

How to increase investment in micro-enterprises (and get your money back)

This blog was orginally posted on CARE Insights.

Today CARE has submitted written evidence to the International Development Committee (IDC) of the House of Commons on our peer-to-peer lending network, Lendwithcare. (For a snappier and more entertaining overview of Lendwithcare, see our new Christmas animation above.) The IDC is currently looking at jobs and livelihoods and is interested to understand more about the role that a relatively new way of funding micro-enterprises can play in generating growth and jobs in developing countries.

Is peer-to-peer (P2P) lending an efficient way to support microfinance?

The Lendwithcare.org Homepage

Peer-to-peer (P2P) micro-lending platforms, such as lendwithcare, have become a popular method of supporting small businesses in developing countries. Local microfinance institutions (MFIs) select borrowers and appraise their loan applications, which if approved, are financed by the P2P platform. Lendwithcare was established in 2010 and to date some 17,000 individual lenders have financed loans to more than 8,000 borrowers across ten countries.  Our experience over the past four years is that as their loans are repaid, lenders invariably re-lend; rather than withdraw their money. While lendwithcare has proven to be very popular with supporters, is it an efficient way for MFIs to access funding?

Guest blog | Lending: the new giving?

This blog was originally posted on Tim Bishop's definitelymaybe blog and has been re-posted here with his permission. 

 

Vietnamese hill tribe handicrafts © CARE / Tim Bishop

Lendwithcare microloans making big differences in Togo, West Africa

A couple of weeks ago, Ajaz (Lendwithcare's Microfinance Advisor) and I headed out to Togo and Benin in West Africa to conduct the annual evaluation of our microfinance partners. Whilst there we also met some of the entrepreneurs receiving Lendwithcare loans.

 - Nancy Thomas, Lendwithcare Executive

 

Video updates from Togo part three: “A small loan is like oil in an engine; it allows people to move forward"

Finally, part three of Tracey's video updates from her April 2013 trip to Togo is here! Here are also parts one and two for some context.

To round off my blog/video updates from Togo, I wanted to share with you some lasting impressions from the trip.

The passion and commitment of the WAGES staff

Many of the office staff began their careers as Loan Officers, including the General Manager, Ramanou Nassirou who, when talking about the entrepreneurs said “most of them know how to run their business, we just provide them with a small loan to get them started - a small and affordable loan is like oil in a car engine; it allows people to move forward". 

I have already written about how WAGES supported clients who lost everything in the massive fires which swept through the great markets of Lomé and Kara last year and this demonstrates further the commitment that WAGES have to improving the lives of their clients. 

More from Lendwithcare in the Philippines | The impact of Typhoon Haiyan

Day 12 and Tracey retells the stories of the Lendwithcare entrepreneurs she has met whilst in the Philippines ...

I had to accept that we were not going to get to Leyte or any of the other worst affected islands due to the bad weather. There has been an area of low pressure over the Philippines for the last couple of weeks which has been causing constant rain and high winds and severe flooding in some areas. 

CARE/Peter Caton

Day 2 – Safely arrived in the Philippines

Day Two

Arrived safely after a 19 hour journey. Catching up with the CARE office tomorrow then meeting @lendwithcare partner next day.
— Tracey (@traceymohabir) January 13, 2014

Head of Lendwithcare, Tracey Horner, safely arrived in Manila this morning where she will stay for a couple of days and meet with CARE Philippines staff to discuss a rehabilitation plan for the people who lost their livelihoods when Typhoon Haiyan hit on November 8^th last year. One of the main questions to be addressed is how Lendwithcare, a peer-to-peer lending platform operating in devastated areas, can contribute to these rebuilding efforts.

Video updates from Togo part two: collecting updates from the field

After the first part of our video updates from Togo in July, the wait is finally over! Here is part two, at last.

In my first blog about my trip to Togo, I mentioned that visiting our microfinance partner, WAGES, was of particular interest to me because of CARE’s long-standing relationship with the institution. However, the main purpose of my trip was to respond to our lenders’ desire for more updates on how their loans have impacted on the lives of the people they have supported.  So I travelled to WAGES to provide the loan officers who work with Lendwithcare some further training on how to provide updates and more specifically how they can use film to bring these updates to life.

The training was led by professional film makers Fiona Molloy and Nik Wood (the people that also put together our fab TV ad!) and I have to say the loan officers really enjoyed learning the tricks of the trade from Fiona and Nik.  They particularly enjoyed learning how shooting different kinds of footage rather than simply zooming in and out can improve a film.

These three women had specific messages they wanted to pass on to the Lendwithcare lenders:

Promoting better health, diet and hygiene

Lendwithcare’s partners typically accompany loans with a range of other services. These include offering savings accounts, insurance and money transfer as well as providing training in basic bookkeeping, financial literacy and marketing. 

Delivery of a workshop to FACES customers by Laura Sarango 

Bonjour Yovo (Good morning stranger): Notes from a visit to Benin

  Last week I went to Benin (1). I got out of the plane in Cotonou, the largest city in Benin, as a tropical storm was receding and I was greeted by warm wet air, the sight of palm trees, the wet red soil…. and by the mosquitoes.

 The following morning, the first people who said hello to me were school children. As I made my way past them they all chimed “Good morning, Yovo.” And then smiled at me, I felt I had been welcomed.                                                           

Video updates from Togo part one: providing small loans to the financially excluded

In April I travelled to Togo to visit WAGES, our local microfinance partner, and a number of the micro-entrepreneurs we have supported through lendwithcare.org.  It was a particularly interesting trip for me because when I first started working for CARE International back in 1997, the “Women & Associations for Gains both Economic and Social” (WAGES) project was in the process of moving away from its origins as a small-scale group lending programme set-up by CARE and was transforming into an independent Microfinance Institution (MFI). I remember how CARE’s end of project evaluation had concluded that the WAGES project  was having such a positive impact on the lives of poor women and in order to help the many more thousands of people who could benefit from micro-loans, WAGES should became an independent entity.  This is why when we set up our lendwithcare.org initiative in 2010, WAGES was an obvious choice to be one of our very first partners.

Why are some microfinance loans not so 'micro'?

When asked recently by a lender why many of the loans featured on the lendwithcare.org website were rather large (often around £1,000) we explained why that might be:


1. At lendwithcare we believe that supporting small to medium enterprises (SMEs) often generates waged employment opportunities for some of the very poorest segments of the population. The latter occasionally do not even qualify for a microloan in their own right. This strategy of supporting a range of businesses we believe is more effective in tackling poverty than simply supporting one type of business.

Living Below the Line | A photo diary

£1 for 5 days for all food and drink - could you?

For the past 3 days, 1000's of Britons have taken on the challenge to live on £1 a day for all food and drink in an attempt to deepen and widen understanding of the challenges and difficult choices faced by those living in extreme poverty.

We have been taking part in the challenge here at lendwithcare.org and as we enter into DAY FOUR I wanted to share a few of my (picture) thoughts from the challenge so far

This week I have learnt that living within an extremely tight budget means …

My Top 10 Tips to Live Below The Line

One week today the Live Below The Line challenge begins!!! 

 

And for those of you who are like me and slightly worried about whether you have the creativity and knowledge to eat adequately on just £1 a day. Or wonder how you are going to raise both awareness and funds for your chosen charity, I have compiled a list of TOP TEN TIPS to help you (and me) take on the challenge!

Women & microfinance: An International Women's Day celebration

‘She believed she could so she did’ - unknown

 

We all know that a lot of people around the world live in terrible conditions of poverty ...
But did you know that the great majority of them are women?

Lendwithcare in Cambodia | How a growing economy impacts on the poor

Lendwithcare on location in Cambodia

Recipient of an agricultural microloan through lendwithcare
© CARE/Nancy Thomas

The last time I visited Cambodia was in 2005 and as I walked out into the humid night air and towards Phnom Penh’s visibly transforming skyline, I was eager to find out how Cambodia had changed since my last visit.

Lendwithcare in the Philippines | Providing more than just microcredit

Lendwithcare on location in the Philippines

Carlito Curacha, a farmer who received a microloan through lendwithcare

© CARE/Jo Broughton

Jo Broughton, CARE International UK's PR & Communications Executive, visited lendwithcare's microfinance partner in the Philippines, SEEDFINANCE, and tells us how microfinance institutions (MFIs) can (and do) provide more than just microfinance ...