Kate Garraway – ITV presenter and entrepreneur – is an ambassador for lendwithcare.org. Here she tells The Co-operative Magazine why she’s supporting the initiative and shares stories of the real differences she’s seen that these small loans can make.
“When I was approached by CARE International UK, I was in the process of setting up my own internet company, goodypass.com, and was experiencing all the challenges of getting investment. I was very lucky because I was on television so I already had a starting point but it’s still a big challenge so I really had an insight into how important it would be for people trying to get themselves started in a situation when the normal routes aren’t open to them.
"In Togo I discovered that many of the women don’t even have birth certificates because their families are more likely to register the birth of a son than a daughter. That, combined with the rural locations in which a large proportion of the country’s population live, means that traditional banking methods and loans are nigh on impossible to come by for the average man or woman, 70 percent of whom live on less than $2 per day.
you aren’t just giving it away, you’re lending it and you’ll get it back.
"Most of the world’s poorest families have no access to financial services so CARE International UK set up lendwithcare.org, so that those in developing countries can lift themselves out of poverty. These days everyone is short of cash and thinking twice about what money they give to charity. That’s the beauty of this scheme: you aren’t just giving it away, you’re lending it and you’ll get it back. It isn’t just a hand-out; it’s a real leg-up to someone who just wants to help themselves and their family.
"I could see instantly what a big difference my loan had made. Before, Batchassi (Batcahssi N’kore is the person Kate loaned to) was out of work and struggling to feed his family. Now he has his own business, which is fantastic. I chose to lend to Batchassi because his plan would bring benefits to the wider community. Now the locals don’t have to walk miles each week in order to have their grain turned into flour.
"It’s amazing to see how quickly the impact has been felt and without lendwithcare.org none of this would have been possible. Batchassi has increased his income by over a third in such a short space of time and was so proud when he told me he has already moved his five year old son to a private school. He wants him to be a doctor apparently, so his loan will shape his children’s future as well.
Batchassi has increased his income by over a third in such a short space of time
"The energy and will to succeed among the Togolese businesswomen and men I met was amazing. It’s not like they’re suddenly jet setters, they’re still working 12 hour days and grafting for everything. There’s no sense that this is in any way an easy hand-out. It’s simply the starting point on the long road to running their own successful business.
"This is an opportunity to do something worthwhile with your money and have it repaid to you once someone has benefited. It's great news that The Co-operative is now supporting lendwithcare.org and I’m confident that its millions of members and customers can help make a difference to thousands more like Batchassi in countries around the world.”
There are many women and men like Batchassi, that you can support by visiting www.lendwithcare.org. Within minutes you can be providing loans to one or more of these entrepreneurs in Togo, Benin, Cambodia and The Philippines and help them to turn their plans into real opportunities. You can invest towards the total needed, lending from £15 up to the full amount, and you’ll be able to follow the progress of the entrepreneur’s growing business to see how their new source of income is helping to improve many aspects of their lives. And, once repaid, you can recycle your money into another loan or withdraw it.
This is just one of the ways you can ‘Join the Revolution’ and help us to achieve the ambitious targets we’ve set ourselves in our new Ethical Plan. Find out more at www.jointherevolution.coop