Cannock Rotary: Helping those in need help themselves
The Rotary Club of Cannock helps small business entrepreneurs in 14 countries across the world by making microloans via the Lend with Care Charity.
Lend with care is a revolutionary way to help people in low-income countries to work their way out of poverty with dignity. 100% of the money loaned through Lend with care goes to the low-income entrepreneurs you choose to support
The entrepreneurs must make a solid business case including a repayment schedule before their application is approved. The amount requested typically ranges from a few hundred pounds to less than £3,000.
Loan amounts made can be as little as £15 however, on average Cannock Rotary loans £45 to the loan applicants they select.
The total amount requested by the applicant is completed by lots of small amounts from various Rotary clubs, charities and individuals until the total amount requested is available.
Cannock Rotary receive repayments every month from the loans we have made; no interest is charged; the club then reinvest in further loans each month, so the money is used again and again.
The Cannock Club has a fund of £3000 in their Lend with Care account which we started with £500 in 2016 and have added to it over the years.
So far, the club have made 391 loans; 306 of those loans have now been fully repaid and the rest are in the process of repaying.
As the club reinvest our repayments again and again, the clubs £3000 has now been turned into £23,130 worth of loans
Romar: A farmer in the Philippines for example requested £1,413.00 repayment terms: 12 monthly payments Romar requested a loan to use as working capital for his agricultural ventures. He aims to improve the quality and yield of his swine production so he can meet increasing buyer demand and earn more to better support his family. Currently 72% of the amount requested has been loaned he just needs a further £388 to complete the loan, hopefully he won’t have to wait too long.
Romar will not receive any money until the full amount has been deposited with the charity.
Lend with Care is non-religious and non-political, allowing them to deliver humanitarian and development assistance to anyone in need regardless of race, gender, ethnicity, age, religion, political view or sexual orientation.
The Rotary Club of Cannock believe it is a wonderful charity, which they are delighted to be part of. Rotarian Allan Rotchell who oversee the club account is an Ambassador for Lend with Care and presents talks to Rotary Clubs and other organisations about the charity and how to join in.
For more information about the charity visit: lendwithcare.org
