EduTech Posted August 21, 2011 Posted August 21, 2011 (edited) Afternoon All, I posted this up on FB the other day, but thought i'd post it up here. Microfinance from CARE International UK | lendwithcare.org Lend with care is a revolutionary way for you to help people throughout the developing world transform their future. You basically lend money, that then pays of a loan that someone has had and then they pay you back (normally on a 12 month basis). YOU DO NOT GET INTEREST FROM LENDING THE MONEY, BUT THAT IS NOT THE PURPOSE OF THE PROJECT. You can find out more about how it works here: How it works | Microfinance from CARE International UK Thoughts? I am looking into helping fund some of the causes. James. Edited August 21, 2011 by EduTech
featured_spectre Posted August 21, 2011 Posted August 21, 2011 No guarantee of repayments, but you have to pay them regardless so you could end up out of pocket.
EduTech Posted August 21, 2011 Author Posted August 21, 2011 No guarantee of repayments, but you have to pay them regardless so you could end up out of pocket. True, but how i thought about it was if you say lend the minimum of £15.00 then at least you can say you have helped give them the chance to at least try! James.
Steve21 Posted August 21, 2011 Posted August 21, 2011 (edited) The bit I think is really wrong (imo) is MFI charges them 30% "per year" interest rate. So they use your money, and charge the "entrepeneur" to make themselves money? Bit wrong personally Just been having a look through the actual people, seems some really good ones in there though. Will have to see if I can sort some spare cash. Steve Edited August 21, 2011 by Steve21
AyatollahPies Posted August 21, 2011 Posted August 21, 2011 Afternoon All, I posted this up on FB the other day, but thought i'd post it up here. Microfinance from CARE International UK | lendwithcare.org Lend with care is a revolutionary way for you to help people throughout the developing world transform their future. You basically lend money, that then pays of a loan that someone has had and then they pay you back (normally on a 12 month basis). YOU DO NOT GET INTEREST FROM LENDING THE MONEY, BUT THAT IS NOT THE PURPOSE OF THE PROJECT. You can find out more about how it works here: How it works | Microfinance from CARE International UK Thoughts? I am looking into helping fund some of the causes. James. Taking out a loan to pay off another loan? Is Gordon Brown behind all this?
witch Posted August 21, 2011 Posted August 21, 2011 Sounds interesting but I am concerned about the interest aspect. You could get involved with sponsoring a child via one of the agencies that help struggling communities around the world - they dig wells, build schools, and help with healthcare etc. You can choose where you sponsor. It is very rewarding and you know that they are helping the communities to help themselves and become more self sufficient. It is really low cost. I have been doing it for 30-odd years and I have learned a lot and got a lot of satisfaction out of it. World Vision, ActionAid and others all do it. 2
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