You lend. They grow. They repay. You re-lend to help someone else.
More than 1.4 billion people around the world do not have access to the financial services they need to improve their lives.
Most of these people are women living below the poverty line in rural areas with little opportunity to overcome financial barriers.
CARE Australia, one of the world’s leading poverty-fighting organisations, will launch Lendwithcare in Australia on Monday, 30 October in a bid to close that financial gap.
Lendwithcare is an innovative microfinance platform that connects new and existing business owners from across the Asia-Pacific region who need a little lift, with lenders in Australia who are motivated to support them.
First launched in the UK, Lendwithcare supports individuals in low-income communities around the world, giving them access to the financial services they need to grow their businesses, earn an income, and support their families.
It is a revolutionary way to create an inclusive financial environment and help people all around the world overcome financial hurdles.
How it works
● You lend: Your loan can support someone’s small business, so they can earn a living.
● They grow: Your investment helps their small business grow.
● They repay: Once they are up and running, they repay your loan.
● You lend again: Support someone else, withdraw your money or donate it to CARE Australia.
Peter Walton, Chief Executive Officer at CARE Australia, is excited about the launch of Lendwithcare in Australia.
“Microloans give hope and can transform lives, especially the lives of women and children,” Mr Walton said.
“Lendwithcare is also about solidarity. It is a platform rallying Australians to make a direct impact on the lives of people who often don’t have access to the hand-up that they need to support their families. Microfinance empowers those who may otherwise be disenfranchised.
“As a part of an international confederation, CARE Australia is uniquely positioned to be the bridge between the capital you have in hand, and the communities we work with around the world who just need that additional support,” he added.
“Lendwithcare has had a successful run in the UK, and we are excited to be able to launch Lendwithcare here and provide Australians with a sustainable way to give to charity and help people change their own lives.”
Naomi Simson, Lendwithcare Ambassador and Australian businesswoman, said that it is a rare opportunity to participate in a meaningful program such as Lendwithcare.
“Looking at the communities that Lendwithcare will support, the funding gap leaves female entrepreneurs significantly disadvantaged. Lendwithcare will seek to change this and provide an amazing opportunity for Australians to help make a real and positive impact.”
In low-income and middle-income countries, there is a $1.7 trillion financing gap for female entrepreneurs.
For over 78 years, CARE has worked around the world to defeat global poverty by supporting women to create lasting change in their communities around the world.
“Lendwithcare creates a virtuous cycle of empowerment and opportunity. Borrowers gain the means to support themselves and empower their communities,” Mr Walton said.
“Lenders, in turn, experience the satisfaction of seeing their initial loan not only transform one life but also continuously multiply its impact when relenting to more and more deserving individuals.”
Lendwithcare will launch in Australia on Monday, 30 October.
Ryan Fritz started The Advocate in 2014 to provide not-for-profits and charities another media platform to tell their worthwhile hard news stories and opinion pieces effortlessly. In 2020, Ryan formed a team of volunteer journalists to help spread even more high-quality stories from the third sector. He also has over 10 years experience as a media and communications professional for not-for-profits and charities and currently works at Redkite, a childhood cancer charity.