When you become a Business First Online Corporate Member, we invest 10% of your Membership Fee to Lendwithcare Projects. But what are they, and why should you get involved?
Lendwithcare brings together entrepreneurs in developing countries with people with the power to help them – people like you. Run by one of the world’s leading aid and development organisations, Lendwithcare is a revolutionary way for you to work with Business First to help people in the developing world to transform their lives.
It starts with an idea – People across the developing world are bursting with business ideas – all they need is a helping hand to get started.
The entrepreneur requests a loan – Entrepreneurs approach a local Microfinance Institution (MFI) that is a Lendwithcare partner and, if their ideas show promise, they get the go-ahead for the loan they need to get their business going.
We lend to an entrepreneur – The MFI uploads the entrepreneur’s profile to Lendwithcare. We can see these in the Entrepreneurs section, where we can choose which promising business idea we’d like to support.
The entrepreneur’s business grows – Entrepreneur profiles are updated so we can see how their business is transforming their lives.
Our loan is repaid – The entrepreneur pays back their loan in installments to the MFI, which transfers these repayments to CARE International. They then credit the repayment to our Lendwithcare account. It’s as simple as that!
We decide what happens next – When our loan is repaid we make another loan, effectively leveraging our money to help more entrepreneurs turn their ideas and hopes for a better future into reality.
So that’s it.
A simple and effective way for us to help other entrepreneurs in developing countries. We have set up a Funding Team. And if you become a Business First Corporate Member, this is where we will invest 10% of your spend with us.
Over time we would like to create a ‘Funding Board’ of a number of investors who will decide where the money is invested, but initially Business first will make that decision and you will get regular updates on how your investment is being put to fantastic good use.
Sound good? Then please contact me now and let’s get you onboard. We launch the new initiative from March 1 2018.
To find out more about Business First Corporate Membership, please click here.