Help for Micro Businesses
From now until 22nd April 2018, your donations will be doubled by the UK government (DFID) with matched funding going to support women farmers in Tanzania so they can increase their income and grow their business as part of CARE’s Help Her Live, Learn and Earn campaign and ‘lendwithcare’.
CARE partners with local microfinance institutions to provide loans from your cash with 100% of your advance going directly to entrepreneurs. As entrepreneurs repay their loans with interest the cash can be recycled to new businesses or the your money withdrawn. The failure rate on my repayment has been very low and it seems a charitable way to help commercial development at a low cost.
Any partner that receives funding or technical assistance from CARE for microfinance activities is expected to adopt and implement a code of conduct aimed at fostering transparency and protecting its customers. CARE’s goal is to develop and enhance the capacity and capability of MFIs to independently provide effective, long term, and sustainable financial and non-financial services to the poor.
Just Some of the Micro Finance Partners
- MicroLoan Foundation, Malawi
- Reef Finance, The Occupied Territories of the West Bank and Gaza
- Thrive Microfinance, Zimbabwe MicroLoan Foundation, Zambia
- Umutanguha, Rwanda
- MicroLoan Foundation Zimbabwe, Zimbabwe
Eligibility criteria for prospective microfinance institutions (MFIs) that wish to partner with lendwithcare include:
- At least three years of experience of working in microfinance .
- Have at least 500 active clients with a controlled “portfolio at risk” ratio
- Be able to produce externally audited financial statements for the past three years and a dollar bank account.
- Have a reasonable internet connection and able to update in English
- Adhere to CARE’s code of conduct in microfinance
- Be legally able to undertake microfinance operations within the country of operation
- Lendwithcare brings together entrepreneurs in developing countries with people with the power to help them.