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Microfinance (LendWithCare)

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. With many other investors, the Soroptimists make a difference to each woman and her family.

Club members have had various opportunities to select entrepreneurs to support. For example, one session involved recently-joined members who got together to find out more about LendWithCare, before recommending the next recipients of the club’s loan.

The most recent opportunity was at a whole-club meeting. Sandy Taylor, who co-ordinates Crosby Soroptimists’ microloans, took members through the LendWithCare process. In a live demo, decisions on new entrepreneurs were made and everyone could see the club’s account as it updated.

Three new loans were added. These raised the number of entrepreneurs that Crosby Soroptimists have helped from 23 to 55; the number of family members from 110 to 155; and the total number of people from 135 to 212.