Does anyone lend money to small entrepreneurs using lendwithcare?

[User253853]

I've spent some time looking at it this evening and I am quite tempted. It looks like a really good way of helping others for no cost (or at least limited risk). DH thinks its a scam..

Has anyone done it?

Yes I’ve been doing it for years . Only had one loan default and that was last year in Gaza . It’s a brilliant scheme

I've been doing it for years. It's great. 😊👍🏻

ETA You've reminded me, my loans are all repaid and it's time to look for a couple of new folk to invest in, so thanks for that. Every time I get an email that I've had a modest repayment from someone I've supported in a small way, somewhere in the world, I give them a big cheer. It restores my faith in human nature.

Yes I’ve been doing it for many years too and have also only had one loan default. I ask for gift vouchers for my birthday and as soon as I have enough in my account I pay it forward again immediately. Definitely not a scam but a really good way to help people help themselves

Yeah me too

I think I put about 60 quid in 14 years ago and then just keep on reloaning ever time my credit from repayments gets back to the minimum of £15

In that time I have made almost 70 loans by reloaning the initial amount in that way and the total loans represent about £1.1k

I have lost £5 through one default through a death and currency fluctuations have dropped the amount I now have available a bit too

But all in all I don't think that is too bad!

I have, for around a year I think. No defaults so far, and I’ve just reinvested my repayment balance into someone else. I think it was £25 I put in initially, an amount that wouldn’t be a huge problem for me if it didn’t get paid back.

Right I’m going to give it a go. It seems like a far better way to help others than donating to charity and hoping the money actually gets to someone

Same invested £15 originally about 3 years ago always been pain in full. So invested another £10 last year. Never withdrawn any, just keep loaning out.

Great scheme

I use kiva - I think it's pretty much the same thing.

Never heard of it, here to learn more.

I stumbled across it by chance whilst scrolling.

https://lendwithcare.org/search?gender=&location=&page=3&q=&sort=random&status=fundable&term=&include=mfiInfoMessage

Yes. It’s really enjoyable. I forget about it, remember randomly and then reinvest all my repayments. You can choose to look at opportunities in particular countries and to sponsor women owned businesses.

I’ve been lending through Kiva for a few years, definitely not a scam! I exclusively lend to support women building clean sanitary bathrooms in their homes.

I’ve been doing it for years and this threads just reminded me to look. My loans have all been repaid and I’ve just reinvested the credit. It also said that anyone new who invests will get £15 free credit if they click on my link - so it’s below. It’s a fantastic scheme

https://lendwithcare.org/referral/XFN024

I've got both. They work the same way I think but Kiva is American and Lendwithcare is UK based. More choice with Kiva but it's all done in dollars.

I use Lendwithcare - it’s fantastic!

I’ve done it for years too and just reinvest money that is repaid, love doing it

Yes I have lent with them for 10 years. Not a scam at all. Really helps someone out then they repay you and you can lend to someone else.

Totally trustworthy and a great way to give.

The lovely thing is that you can see how many people in their families you've helped, etc. I think I've put about £25 in and am on my 5 loan - you do lose a bit because of currency

Yes, took me about a year for them to pay off the loan then I just reinvested. It’s good charity. I like looking for women who want to start a business. You can select who you want to give the loan to.

Thanks Queenage, just used your code to lend to a female entrepreneur in the Philippines. Great idea.

I get a notification and a few people have started lending! Brilliant 🤩

https://lendwithcare.org/referral/C70RGY

Same always lend to women, makes an actual difference now and into the future

Thank you @Queenage - I've just used your link and sponsored a lady in the Philippines

I do. I view it as part of my planned giving, when a loan is repaid I loan it again. I usually pick women to lend to and usually small craft enterprises.