Converge Challenge has been supporting www.lendwithcare.org entrepreneurs in developing countries since December 2014 in lieu of sending Christmas cards - an ethical gift.
In 2016 we continue with our support to get new businesses started in this way. We believe that microfinance is an effective and empowering way of fighting poverty. Lendwithcare brings together entrepreneurs in developing countries with people with the power to help them - people like us ... and you. Run by one of the world's leading aid and development organisations, Lendwithcare is a revolutionary way for us all to help people in the developing world to transform their lives.
What we do is invest in new start ups. The money is paid back in installments. When it has been repaid, we simply reinvest in a different entrepreneur -“the gift that keeps on giving”.
Lendwithcare enables families to find their own route out of poverty and it allows others to develop their businesses, which has a direct impact on their lives. People across developing countries are bursting with business ideas and all they need is a helping hand. Converge Challenge has supported Lendwithcare entrepreneurs since 2014 and we're pleased to advise that previous loan recipients we have supported are doing amazingly well!
Success:
One project we helped - the Tionge women group based in the Nyimba district of Eastern Zambia needed £1,266 to begin their project for a grocery shop and a hairdressing salon. We contributed towards helping the women’s group by completing the final part of their funding; this meant they could start developing their business and better support their families. We have also supported Muhammad Shahid who required funding for his video gaming shop. Muhammad's business loan was at 0% so Converge decided to kickstart the funding for his video gaming shop. Both have now fully paid back their loans enabling Converge to re-invest in more entrepreneurial projects.
We believe reinvesting in a business is critical to any company that wants to grow so in 2015 Converge Challenge reinvested in Mrs. Binh Dinh thi who lives in Village Ca with her family and earns a living by growing corn, rice in and chayote. She used the funding we provided to buy 10 breeding pigs, 2 sows and mash. The extra profits from breeding helped her take better care of her child and parents.
2016 support:
This Christmas, Converge has completed the loan of Jean claude Hashakimana's (Rwanda) which means he can now purchase a small plot of land to farm potatoes, fertilisers, seeds and further employ an additional 20 people to tend to his new venture. He is also aiming to start stocking a potatoes warehouse of his own, which will lead to a brighter life for his wife, 6 children and his current 40 employees. We are excited to learn about his progress and will report in time.
www.lendwithcare.org has lent £12 million to poor entrepreneurs around the world. Why don't you consider supporting them also as we have?
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