I love the concept of this charity and plan to provide a further ‘loan’ (which I fully expect to be recycled ad infinitum). I particularly like how many women are being supported in their endeavours a... Toon meer
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It is good work, but the financial processing of loans are a complete black box. I have seen several repayments experiencing a huge slash due to "currency fluctuations" etc.. If we can be provided det... Toon meer
Bedrijf heeft geantwoord
I recently joined and started lending. It seems a great project. Having read a little about the loans I’m disappointed that there is interest paid by the borrowers. I’m also confused by the repayment... Toon meer
Bedrijf heeft geantwoord
I much prefer microfinancing through Lendwithcare than donating to very large charities. I love that for the price of a takeaway, I can help someone to stand up on their own two feet, with dignity and... Toon meer
Bedrijf heeft geantwoord
Bedrijfsgegevens
Geschreven door het bedrijf
Microfinance from CARE International UK. Make a loan, change a life.
Contactgegevens
CARE International UK, 1 St. John's Lane, EC1M 4AR, London, Verenigd Koninkrijk
- 020 7091 6100
- info@lendwithcare.org
- lendwithcare.org
4,2
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88 reviews
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Always had payments back 👍
I have no hesitation in recommending lend with care.i have been a lender for many years and have over 47 times Lent to various businesses.I have never had any loans default and I will continue to help those entrepreneurs for the foreseeable future.It is true some use the loans as working capital and others to start up there businesses. There are many entrepreneurs to choose from so there's plenty of choices and different time scales you can lend for.
23 mei 2023
Review zonder uitnodiging
Antwoord van Lendwithcare
Thank you so much for this glowing review. We're so pleased to have had your support for so long, and we are hopeful that you will continue lending for many years to come. If there is ever anything we can assist with, please feel free to drop us an email at info@lendwithcare.org. Thanks again!
Snowball.
I've been supporting this charity for a couple of years and wonder why this model isn't used more. It's a 'snowball'. If you contribute an amount each month and as loans are repaid add the repayments to the monthly contribution, then of course the figure gradually increases. I attended a talk given by the charity about a year ago and came away reassured that these people are trying hard to make a difference. I hope that even more people from more countries will be able to take part. The admin costs appear to be being kept low - I'm guessing that admin staff are working pretty hard to achieve this. I see every reason to continue supporting this charity.
27 maart 2023
Review zonder uitnodiging
Antwoord van Lendwithcare
Thank you so much for being a part of Lendwithcare, and for taking the time to share this review. We're so pleased to have your endorsement and of course we're very pleased that you joined us for a talk to hear about Lendwithcare from us directly. If you ever need to get in touch, do feel free to drop us a line at info@lendwithcare.org.
Excellent idea
Excellent idea I have just joined and my first loan completed the funding required by a 21 year old female in Ecuador. She can now invest in more seeds fertiliser etc to expand her farming business and earn extra income I am happy to help and will certainly be helping more entrepreneurs across the world 🌎 😀 😊
18 maart 2023
Review zonder uitnodiging
Antwoord van Lendwithcare
Welcome to Lendwithcare! We're pleased to hear that you have made your first loan and are looking forward to supporting more entrepreneurs in the future. Do get in touch with us at info@lendwithcare.org if you have any questions. Thanks so much for your support.
Not what it once was
I was initially attracted to Lendwithcare because they helped people unable to get a small loan elsewhere and I recommended them to many friends and family members. However, in the last few years, the ethos of Lendwithcare seems to have changed and some of the current entrepreneurs seem to be already thriving buisness people simply looking for a cheap loan (for example, I recently saw a request for a man seking a loan to open his FIFTH commercial shop). Other people are looking for thousands of pounds (for example to pay for workers).
I am also disappointed that when one of our entrepreneurs was genuinely struggling to repay her loan (after severe floods in her country) and I asked Lendwithcare to write off the remainder of her debt (4 pounds) to me, I was told that it was not possible as Lendwithcare did not make grants. Nowadays Lendwithcare seems to have a number of specific and general “grants” available and I am always sad when I think of my single entrepreneur having to bear the stigma of defaulting on her (small) loan because she could not afford to make the payments on money borrowed to replace her latrine.
Unfortunately, Lendwithcare has changed so much since I became a member that I am no longer able to recommend them to my friends and am looking at alternative organisations myself.
1 maart 2023
Review zonder uitnodiging
Antwoord van Lendwithcare
Thank you for taking the time to provide your feedback Anne. We are very sorry to hear that you no longer feel able to recommend Lendwithcare to friends and family, please do contact us at info@lendwithcare.org if you would like to talk through your specific concerns in more details since your support is very important to us. Without seeing the specific entrepreneur profiles you mention in your feedback, we would like to reassure you that the mission and vision of Lendwithcare has not changed. The goal of Lendwithcare continues to be to improve the economic well-being and resilience of low-income communities, particularly women, and the platform is still very much used to raise vital loan capital for individuals and groups who are typically excluded from formal finance. On the Lendwithcare website we have always posted a mixture of very small loans to individuals who are operating micro businesses, as well as larger loans to SMEs who still do not meet the requirements of many formal financial institutions in their countries. We have always believed it is important to support slightly larger, more successful businesses in addition to microbusinesses, since these businesses provide important income-generating opportunities for people in their communities. It is also worth mentioning that loans, even very small ones, are not always the most appropriate form of intervention for extremely low-income individuals and Lendwithcare (through our partners) works hard to ensure that we are lending to people who have a viable income-generating activity and who can manage to take on debt to try and grow this activity. The size of the loan is also very context and activity specific – some contexts in which we are working being very expensive (in Palestine for example) and some activities requiring larger up-front investment that is paid back over a longer period of time (this is often the case when it comes to agri-finance for example).
In terms of your concern about writing off loans for entrepreneurs who are struggling to repay. Over the years we have written off over a thousand loans to Lendwithcare-funded entrepreneurs and we work very closely with our local partners to remove or lessen the burden of debt when it is clear that an individual is facing difficulties. This is certainly true in the case of natural disaster. We do, however, leave the final decision to write-off a loan down to our local partner since they have a much better insight and understanding of the communities they work in and whether or not a debt is repayable. Microfinance institutions need to be sustainable to ensure long-term availability of their vital services and this depends heavily on thorough affordability assessments as well as appropriate debt recovery processes and procedures.
Finally, we'd like to offer a sincere thank you for your past support.
Sharing the stories of Entrepreneurs with Secondary Students
As a teacher I use my account to share experiences of those to whom I lend with my students. They select who I lend to after finding out about various regions of the world and the lives of those who live there.
Many thanks for providing this opportunity.
3 februari 2023
Review zonder uitnodiging
Antwoord van Lendwithcare
This is excellent. Thank you so much for your support. Do pass on our thanks to your students for being involved too!
Helping people with a positive outcome
So far my experience with using Lend with Care has been positive. I have, to this very moment paid 17 loans, helped 312 people and have lent £480 with £376.90 repaid so far. I carefully chose the entrepreneurs who has a profitable business and is in a better position to pay back the loan, also I check their payment record to see if they're good at paying off loans. I've also invested £280.50 and have never withdrawn any of the money. Each repayment is usually reinvested in another business needing help.
I belive it's a really good idea and this way people who need the help can get it and as long as I'm able to help I will continue to do so, providing no additional charges except the donations have been added on, so far at £63.50. If the loans are repaid, no matter how slow, and if the credit is sitting there and I'm not in need of it at the moment, it does make sense to reinvest and continue to help the people who needs the help. It's the least I can do.
Lend with Care have made a huge impact on the lives of people who need our help, but it's up to us to invest with care because we have been warned that some entrepreneurs may not be able to pay off the loan, so the choices of who to help is ours and ours alone. I took a risk during lockdown to invest, knowing the risk of non payment would be high as some businesses are affected, but I know that's the time they need help most, so I did what I did and the repayments kept coming in nevertheless.
So I'll now go and make a few more re-investments and just leave it there. They can make the repayments as and when they can, because I'm using money to invest that I am not desperately in need of right now, and I still know I can withdraw my money anytime I want to, but right now I have no need to and am happy to see the differences I'm making to other people's lives. It's an incredibly good feeling to know I'm a part of such a good idea and long may it continue.
1 januari 2023
Review zonder uitnodiging
Antwoord van Lendwithcare
Thank you for taking the time to write such a detailed and considered review of Lendwithcare, we sincerely appreciate it. We're so pleased to have your support, and the support of thousands of like-minded individuals keen to make a difference. If you ever need to drop us a line directly, you are always very welcome to contact us at info@lendwithcare.org. Thanks again!
Lendwithcare is an amazing concept
Lendwithcare is an amazing concept. I put £30 into my account about three years ago, and as the loans are repaid, and my account gets back to £30 then I make another loan.
So far I have made 36 loans that way and helped 257 entrepreneurs plus an additional 940 family members.
Yes of course lendwithcare charge interest on the loans that they make, that is essential to cover their operating costs, and no they do not pay you any interest. This is not an investment but an innovative way to help lots of people in many different countries
28 december 2022
Review zonder uitnodiging
Antwoord van Lendwithcare
Thank you so much for writing such a comprehensive review of your experience with Lendwithcare! We're so pleased to have your support. If you ever need anything, please don't hesitate to get in touch with us directly at info@lendwithcare.org.
Be careful who you lend money to
Be careful who you lend money to. Some of the African lending partners are charging 5 to 6% interest a MONTH on the loan you gave for no interest. That means that over a 24 month loan, the African lending partner will charge your beneficiary as much as you gave in the first place. Very bad!
14 oktober 2022
Review zonder uitnodiging
Antwoord van Lendwithcare
Thank you for raising this important point around interest rates.
You are correct that some of Lendwithcare's local microfinance partners charge interest on the loans they provide to their customers (including the loans funded through Lendwithcare). However, this requires some important context.
Firstly, it is worth noting that the rates of interest charged by Lendwithcare's partners range from 0% to 7% a month and that the average interest charged is around 2% a month (on a declining balance). The African partners you’re referring to do charge at the higher end of this range, and this is for several reasons. They reach incredibly rural and isolated communities with their services, and they also provide very small, short-term loans (the average loan size per group member is approximately $120 and loan terms 4 to 6 months). The cost of delivering finance and training to communities that are hard to reach, and to provide thousands of very small loans is very costly. These loans are also provided collateral free so the risk for our partners is even higher. This is precisely why commercial banks do not serve these communities.
Secondly, it is worth noting that these partners are operating in economies with very high rates of inflation (although we recognise that the rate of inflation in the UK is high currently) and so the cost of delivering services is expensive. And finally, the Lendwithcare team does thorough due-diligence on each organisation we partner with, including in-depth analysis on the cost of services and whether these are fair, transparent and in-line with other providers in the country/region.
If you have any further questions, of course you are very welcome to contact us at info@lendwithcare.org.
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