At our most recent meeting on 8th January, Club member Linden Warburton explained the working of the Lend With Care scheme to members. A sum of £1220 has been invested by the Club in this scheme. Loans are made to small business owners across the world and repayments are then recycled to other businesses in need of funds. A total of £7013 has therefore been loaned in total. She explained that groups which offer loans can choose particular countries and / or particular types of business. They are told what the funds are specifically for, and whether there is additional risk involved in the loan. Local intermediaries, known as Local Partners, identify businesses in need and may charge interest on the loans. In recent years the Hawick Club has tended to offer loans of £30 each time (augmented of course by similar loans from other groups) but Club members have now authorised Linden and her small team to up this amount when preferred.
Fuller details available at https://lendwithcare.org/