How it Works
It starts with an idea – whether it’s opening a market stall or diversifying the crops they grow or many other ideas. People across the developing world are bursting with business ideas – all they need is a helping hand to get started.
The entrepreneur requests a loan – entrepreneurs approach a local Microfinance Institution (MFI) that is a Lendwithcare partner and, if their ideas show promise, they get the go-ahead for the loan they need to get their business going.
We lend to an entrepreneur – The MFI uploads the entrepreneur’s profile to Lendwithcare where we can choose which promising business idea we’d like to support.
As the entrepreneur’s business grows the loan is repaid – The entrepreneur pays back their loan in instalments to the MFI, which transfers these repayments to CARE International.
We can then make another loan, helping more entrepreneurs turn their ideas and hopes for a better future into reality.
Beau’s Bakehouse thought it would be fitting to support entrepreneurial bakers around the world. As a result, we have supported two bakeries:
The Zaombaukali Group in Malawi – composed of 21 members. They are married, separated and divorced with children and between them they also care for orphans. They requested this loan to invest in their businesses. They mainly run stalls where they sell different products such as fish, snacks, groceries and clothes etc.
Asuya is one member of the group. She is aged 40, married with 4 children and also cares for 5 orphans. Her husband works at a tea estate. Asuya sells baked snacks. She required her share of the money to buy more stock for her business. The proceeds will enable her to feed her family. She has been running the business for 7 years and 4 of her family members are employed in the business. She started the business to lift her family out of poverty and her goal is to increase her capital for the business.
Firyal in the Palestinian Territories – she is 43 years old and lives in Surra near Nablus with her family. Firyal owns a bakery with her sister in their hometown. They make many different types of bread and pastries to meet the demands of people from their town. Firyal estimates that she makes a monthly profit of $430. Firyal would like to increase her income and expand their business, so she has applied for loan to buy things that they need for the bakery. She believes that with this investment their business and income will grow since they will be able to take more orders and attract new customers.
We are delighted to say that both businesses are now fully funded and hopefully starting to feel the benefits!