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?

Have just received notification that my first repayments have been made (showing that the loans have helped) and that someone else has joined with my referral code. Great that more people are joining.

Me too! Made me very happy 😊

I’ve just received my first repayments from the loan I made because of this thread.

It’s a spark of light and solidarity at a time of so much else going on in the world.

edited to add my code lendwithcare.org/referral/QXQDPM

So pleased its all going so well

Am just signing up and being asked for a referral code. Can I use the one previously posted or do I need a newer one. Thanks

any code will do. The supplier of the code doesn't benefit.

Thank you!

A second repayment of my loan yesterday so my total balance is almost £15, ready for another loan.
So nice to see the numbers increasing in the group as well.

I had repayments too. Heart warming.

Yes, i do it. Not a scam and a really great scheme. I havent had a default yet.

Thank you to whoever just used my referral code!

A second repayment for me. And just in case anyone new sees this here's a referral code.
There are 47 people in the Mumsnet group now!

lendwithcare.org/referral/SHWRAI

I’ve also just received my second repayment. The feeling that I’m helping to make a material difference to a group of women in Zambia is heartening.

@AnneofBohemia It really is. I've so far lent to women in the Philippines as there's a personal connection to the country through some wonderful carers I know.

I also had some repayments this week and have just lent the £15 which has been repaid to someone else. I love the circularity!

Second payment today too 🙂

My repayments are not being added to my credit. Also when there is a repayment there is a minus traction called reclaimed bonus. Any ideas?

eosmum I've just checked my account with them and have a reclaimed bonus taken out. It matches the amount made for a repayment made on the same date. I can't find much about it on their webpage, but did see something that if you use a 'bonus' loan, you won't receive the repayments for it. When I signed up to Lendwithcare, I used a referral code from someone here. I am guessing that the repayment for this loan has been reclaimed by the charity as it was their money that was lent, not mine. Would the same thing hold true for you?

is anyone going to do the 'walk 100 miles in June' challenge?
Walk 100 miles in June

The AQA Geography paper 2 had a question on micro loans yesterday. I was scribing and got quietly excited.

Since I posted the referral link on 28.5 I've had three emails from lendwithcare to say it has been used. What a great thread this has been.

Glad to hear that the next generation of lenders are being educated regarding micro loans in Geography!

If anyone else is still interested my referral code is
https://lendwithcare.org/referral/FLVBDU

Thank you whoever pointed me in this direction, feel a sense of pride my little donation is doing good work.

I told the geography teacher and suggested it might be a good form project. Kids could bring in loose change(so no sponsorship or impacting parents), 15quid between 30 kids is nothing. And they see how it benefits real people. She said she thought the trust would probably stick a spanner in somehow, but she was going to do it next year and show her gcse classes the process and case studies.

I hope the geography teacher is allowed to go ahead. I'm sure this would be motivating for the students.

When I was at school, many moons ago, each year group chose a different charity and competed over the year to see who could raise the most. If memory serves me correctly the vast majority of money was raised by breaktime cake sales! Chocolate crispies for 2p....

Seeing this pop back up into active spurred me on to go over to the Lendwithcare site and make another loan.