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Microfinance

Crosby Soroptimists are investing in women.

The club has an ongoing project to part-finance women entrepreneurs through the well-established charity LendWithCare.

A relatively small sum – say £100 – is sent via the charity to people in low-income countries who are building their small businesses and who need a loan to help them on their way.

The loans are gradually repaid to investors. Thus the Soroptimists’ original investment has been fully repaid and members have chosen more women seeking assistance.

Microfinance supports not just the business owner, but her family and community. Microfinance enables women to work their way out of poverty with dignity.

Innovation – SI Crosby invited recently-joined members to get together, find out more about LendWithCare, and recommend the next recipients of the club’s loan. With many other investors, the Soroptimists will make a difference to each woman and her family.

The group selected three women to support:

  • Huyen in Vietnam wants to upgrade her household water system to ensure a clean, safe supply for the family.
  • Hien, also in Vietnam, plans to expand stocks of groceries so that her store can offer more to local villagers, and the income can support her children through school.
  • Holly in Malawi is the sole provider for her eight grandchildren. She ventured into greenhouse farming – an opportunity for financial stability. Holly is investing her loan to increase productivity and her family income for the children’s education.