Guest blog | You don’t have to wait for Christmas!!

This blog was originally posted on Richard Kemp's blog and has been re-posted here with his permission.

Pictured above is Ghulam Qadir who has a recycling business in Pakistan

I have to admit that I am not an easy person to buy things for at Christmas and birthdays. I am lucky that I can afford to buy things that I need and have very few things that I want to buy on top of that except for stamps (I am a stamp collector).

So I always present a challenge. However my ever resourceful younger daughter Rachel, currently the Lady Mayoress of Liverpool, knows my foibles and my interests and is a dab hand at whizzing around on her computer looking for things.

In the past she has bought me things like goats from Oxfam which I have appreciated but it felt a bit sterile. I like being involved with things. This year she found a perfect present when she gave me a voucher for Lendwithcare. In this she combined two of my interests.

Professionally I used to be a regeneration adviser helping people set up programmes to help small business in some of the most deprived parts of England and in places like Turkey.

Politically I represent the UK on a number of international local government bodies and have had the opportunity to visit villages and towns in Africa to see at first hand the hand to mouth existence that so many of the people of Africa and similar areas face.

From the start I was delighted with the gift and within a couple of days invested most of it. I have since put two more small amounts in and intend to give small amounts on a regular basis.

I like thinking about which countries and people to invest in. I don’t put money into retail businesses but prefer to put them into things like recycling, food production and farming. I like the feedback that I get from Lendwithcare and to see the relatively small amounts dribbling in monthly. This means that I know that Lendwithcare is investing well although I do expect that sometimes it will not work out and the investment will disappear.

I have currently made two investments in Pakistan and one each in Benin and Cambodia. Two of the investments are with men and two with women.

To me this is what Christmas is all about. I don’t need another tie and although I will always eventually eat another bar of chocolate doing some small things for people in far greater need than I have ever experienced gives me a small glow of satisfaction. So thanks Rachel for leading me to Lendwithcare. You know what Santa can bring me next year don’t you!?

But you don’t have to wait for Christmas. If you go onto their website you can sign up and start lending straight away  http://www.careinternational.org. Alternatively ring them on 0207 091 6014. Lend some money, do some good and have a pleasurable learning time as well. You could even become a Lendwithcare angel – probably the only chance that I will ever get of acquiring a pair of wings! If you come from Greater Liverpool you can also join a group and see what other members (there are currently four of us) are doing and investing in. I don’t want to urge you on too much but Manchester has a bigger group than Liverpool – a situation I would really like to see rectified!!

Financial Security Available for Disabled People!

Extra financial assistance helps a needy person up to a great extent when they are in the immediate need of money. Many people in the US are disabled and they lead their life on the small amounts of DSS benefits that are arranged by the department of social security.

Sometimes, the small amount of DSS benefits becomes insufficient to deal with expenses that come up all of a sudden. Are you a disabled person living on DSS benefits? Are you in the quick need of funds for meeting sudden financial emergencies?

If yes, loans for people on disability benefits are just a few clicks away from you. You can get these finances in unsecured form and you don’t have to submit your expensive property to the lender as secu

rity against the fetched finance.

The lack of collateral makes this financial package quite expensive as credit lenders apply higher rates of APR on the amount that you borrow. As the financial assistance is quite expensive, so it’s your obligation to use such finances for meeting urgent financial obligations only.

Don’t avail such cash advances for luxury and unimportant needs as it might land you in deep financial problems. Disabled people with bad credit scores can get this financial assistance in an easy and effortless way.

You can fetch loans for disabled within a short time span and in an easy way if you make use of the internet. There is no need of unnecessary documentation and processing fees while applying for such cash advances. Just propel your personal details to the favored lender via the email and get the funds you need on an immediate basis.

More than just microfinance - How Pakistan’s largest Islamic Microfinance Institution supports one of the country’s most stigmatized communities

© Akhuwat 2014

Despite positive measures such as the landmark legal judgement in 2009 that granted transgender people  their own gender category on national identification cards and the Supreme Court recommending that they benefit from affirmative action for civil service jobs, transgender people remain among the most disadvantaged groups in Pakistan.  Often referred to as hijras or khwaja siras (the latter is the term used to describe the transgender courtesans who danced in the courts of the Mughal Emperors during the seventeenth and eighteenth centuries) they routinely face discrimination in health, housing, education and employment as well as ridicule, intimidation and the threat of physical violence. Most khwaja siras are forced to live at the margins of society and earn an income from performing at ceremonies such as weddings and births; extorting payment by disrupting people’s work and most commonly begging - they are, for example, a relatively common sight at traffic lights in many large Pakistani cities such as Karachi and Lahore.

In 2011 Lendwithcare’s microfinance partner in Pakistan, Akhuwat, started a programme to reduce the social exclusion of khwaja siras.  In the words of Akhuwat’s Founder and Director, Dr Amjad Saqib, the aim was to work towards ‘creating a society in which the transgendered are treated as equal citizens without prejudice or discrimination’. While the programme has included a wide variety of activities such as painting workshops, quiz competitions and even sports events, the core of the programme has focused on granting participants a small monthly grant of 1,200 rupees (approximately £7) and, since the health of khwaja siras is generally at greater risk of infectious diseases, the increased provision of health services - particularly focused on the prevention and treatment of diabetes, HIV/AIDS, and hepatitis. More recently Akhuwat has started to focus on improving the economic well-being of the transgender community and now provides vocational training and loans to start businesses. In no way has Akhuwat attempted to reform or reshape the identity or behaviour of khwaja siras.

Akhuwat’s programme was devised following lengthy interviews with more than 600 khwaja siras and their representatives to better understand the issues they face and concerns they have. So far, more than 500 people have benefited from the programme that has concentrated on the large north eastern city of Lahore which has traditionally had a relatively large transgender community, although Akhuwat has plans to expand its pioneering work to other areas of Pakistan as well. While the direct impact of the programme itself has so far been  limited to just a few hundred people, in a very conservative society the indirect impact of one of Pakistan’s largest Islamic development institutions working closely with one of the most stigmatised communities should not be underestimated – setting an example to other organisations Akhuwat employs seven khwaja siras directly.

Like many khwaja siras Ashi, who is 60, was born male but identifies as a woman and her experiences are typical of many in the transgender community. Ostracised by her family when she was still a teenager she became homeless and struggled for many years to both feed and clothe herself. What little money she received she earned from dancing at parties with other khwaja siras.  She suffered from high blood pressure and is now a diabetic. Ashi considers that participating in Akhuwat’s programme has proved a turning point in her life. While attending the workshops that promote better self-hygiene, diet and health, Ashi became aware that Akhuwat also provided interest free loans. She therefore requested a loan, repayable over 15 months, of 15,000 rupees in June 2012 (the equivalent of about £90) to establish a business selling the fabrics used in making women’s clothing as well as readymade clothes as an itinerant trader to people in her local community. For the first time in her life she started earning a regular income. Ashi repaid her loan on time; in fact most of her monthly instalments were repaid a few days early. Once she had fully repaid the first loan she applied in November 2013 for a second larger loan of 30,000 rupees (about £180) to significantly expand her business by purchasing in bulk many of the garments she sells. Buying a greater quantity of items from the wholesalers entitled her to discount and increased her profit margin and she was also able to offer customers greater variety.  She is now living with her married sister and her children and for the first time in her life Ashi feels she has some level of stability, economic independence and security.

Dr Ajaz Ahmed Khan

Eid Mubarak | Celebrations & Charity from Pakistan

© Akhuwat 2014

عيد مبارك, Eid Mubarak and blessed celebration to all of Lendwithcare’s entrepreneurs, partners and lenders across the world this Eid al-Fitr. For those of you who didn’t know Eid al-Fitr, the festival of the breaking of the fast, occurred on Monday (or yesterday for some countries) and marked the end of the Islamic holy month of Ramadan with a day of celebrations held across the Muslim world. The festival, which is viewed much like Christmas for Christians or Holi for Hindus, is one of the largest in the Islamic calendar and comes as the culmination to a month spent fasting, praying and giving gifts to fellow Muslims and non-Muslims alike. This year’s Eid al-Fitr is also of special significance to those of us here at Lendwithcare as it marks the end of our first year offering Islamic loans to entrepreneurs in Pakistan through our partner Akhuwat. To commemorate this year’s Eid al-Fitr and the amazing work Akhuwat preforms across Pakistan we asked their Chief Credit Officer Shahzad Akram to tell us how our entrepreneurs in Pakistan normally spend Eid al-Fitr and just what Akhuwat will be doing themselves to celebrate the day.
Shahzad told us that “Eid al-Fitr is celebrated in Pakistan with great religious harmony and enthusiastically and is treated as the second biggest event for all Muslims around the world. In Pakistan many days before Eid, people start to think and buy special dresses for the occasion as everybody wants to be look nice, beautiful and handsome on Eid day (Especially my wife who looks very awesome & pretty on Eid day)”. After attending morning prayers alongside their family people will greet “each other with embraces just to share their happiness” as well as give gifts of money to children and share sweet noodles in milk, a traditional Eid dish, with their neighbours, friends & relatives. Later in the day the children will spend the money they have been given in market stalls on sweets and ice creams while others will visit the graves of loved ones or go to the cinema or carnival with friends.

Shahzad also tells us that one of the most interesting dimensions of the day is the acts of charity that are incorporated into the Eid festivities and the Month of Ramadan as a whole. Many people will commemorate the occasion by donating a great deal towards helping the poor in their communities, either by arranging lunches and dinners, providing grocery items or simply in the form of money so that they too can afford new clothes for their families at Eid. Shahzad explains that for people in Pakistan “a special occasion [like Eid] is an opportunity to try to share their happiness with others rather than just celebrating it within [their immediate] family”. Indeed the Eid celebrations are especially important for entrepreneurs like Fozia Fatima, a mother of four from Lahore who received an interest-free loan from Akhuwat to start a beauticians business to help pay for her children’s education after her husband was injured at work. The desire of people in her local area to look their best on Eid means increased demand for Fozia’s beauty treatments and provides a great opportunity for entrepreneurs like her to gain new customers and grow their businesses. The small loan (£102) Fozia requested to adequately stock her beauty parlour was covered by Lendwithcare lenders, enabling our partner in Pakistan, Akhuwat, to issue more loans to small business owners like Fozia.

In the spirit of the occasion Akhuwat also distributed around 500 family clothes gift packs to their entrepreneurs and other needy people ensuring the poor also celebrate Eid even if they don’t have the capacity to buy clothes. In addition Akhuwat and a full team of volunteers arranged a carnival and a meal for their entrepreneur’s families in recognition of the hard work and achievements they have made in the past year. On behalf of Akhuwat and all of our partners and entrepreneurs across the world we would like to wish all our lenders a blessed celebration Eid al-Fitr and thank them for their continued generosity in allowing people like Fozia Fatima to take advantage of opportunities to improve their lives for the better.

© Akhuwat 2014

Easy Loans Available for People Having Disability!

Every individual struggles so hard to live in this competitive world. There are many hurdles that prevent people from attaining their goals.

Unfortunately there are people with different kinds of disabilities who can not get employed or under-employed due to their disabilities. Do you require cash to cope up with your expenditures and unable to find a suitable way out?

Here is a good tiding for you! There are lenders to help you in your distress. They provide loans for disabled to pay your pending bills on time.

Trouble free-processing:

These lenders are borrowers-centered and their aim is to render financial service to less privileged people. They never insist on a prior credit check and though you have a not-so-worth credit records, your application never faces a denial.

There is absolutely no necessity for pledging of collateral or faxing of credentials for the sanctioning of the loan. Hence this can be the best borrowing option for you to set right your financial conditions.

Easy and convenient:

These loans for disabled are short term loans meant exclusively for people with disability. These are provided with very simple and comfortable norms. Here the loan amount and the repayment tenure is decided by the lenders.

They work out these aspects on the basis of your requirement and your source of income to refund the cash. You get the privilege to spend the amount as you desire and the lenders do not hinder you in this area.
Ever available:

All these lenders are tech-based and they are available for contact on online mode day in and day out. So you can contact them any time to get their assistance.

You just fill in a simple online application form and forward it by a mere click. It hardly takes a few hours to find you money in your checking account.

Cash crunches might mess up your peaceful life badly. Yet you can set it right by availing loans from authentic lenders. Pay your bills without delay by opting for loans for disabled. A timely gesture of care and comfort!

Is peer-to-peer (P2P) lending an efficient way to support microfinance?

The Lendwithcare.org Homepage

Peer-to-peer (P2P) micro-lending platforms, such as lendwithcare, have become a popular method of supporting small businesses in developing countries. Local microfinance institutions (MFIs) select borrowers and appraise their loan applications, which if approved, are financed by the P2P platform. Lendwithcare was established in 2010 and to date some 17,000 individual lenders have financed loans to more than 8,000 borrowers across ten countries.  Our experience over the past four years is that as their loans are repaid, lenders invariably re-lend; rather than withdraw their money. While lendwithcare has proven to be very popular with supporters, is it an efficient way for MFIs to access funding?

The obvious attraction for MFIs is that they do not have to pay any interest whatsoever on the capital they receive from lendwithcare. Although some MFIs are permitted to accept savings, most of our partners are legally prohibited from accepting deposits. Therefore, in common with many other MFIs, they must rely on external loans to finance their lending. Typically, they access capital from Microfinance Investment Vehicles (MIVs); these are specialist microfinance investment investors such as Blue Orchard, Oikocredit, Triodos and responsAbility, and from local commercial banks. Both these categories of lenders charge interest on their loans, although the MIVs typically charge lower rates than commercial banks and some also provide technical assistance and expertise.

Although lendwithcare does not charge any interest, the funding we provide is not cost free for our MFI partners. This is because they have to visit borrowers, collect details regarding their businesses, take photographs, upload all this information onto the lendwithcare website and then provide further updates on borrowers’ businesses. If the MFI’s clients are living in isolated villages spread over a large area then the administrative obligations associated with participating in lendwithcare could be considerable. This could mean that any benefits arising from interest free capital might be negated by an increase in operational costs. This raises the question, might it actually be cheaper for MFIs to simply access capital from the MIVs and other commercial lenders, even though they have to pay interest, than from lendwithcare?

During a recent visit to Cambodia, this is a question I posed to the Cambodian Community Savings Federation (CCSF) who have been working with lendwithcare for the past three years. CCSF works with rural clients, mainly rice farmers, in the provinces of Battambang and Banteay Meanchey in North West Cambodia. Pisey Phal, CCSF’s CEO, confessed that while they do access loans from several MIVs they prefer funding from lendwithcare because it is much cheaper for them.

Lendwithcare Entrepreneur with CCSF loan officer © CARE/Nancy Thomas

Pisey mentioned that during 2013 lendwithcare provided CCSF with US$416,000 to fund loans to more than 500 individual borrowers as well as a small grant to help with administrative costs. CCSF used the donation to cover the salary paid to one employee who was contracted specifically to work on lendwithcare – the grant just about covered all of his annual salary, although it did not cover his expenditure on fuel and the small amount of time that other staff, particularly the finance manager, spent on lendwithcare related duties. To access an equivalent amount of funding from an MIV or commercial lender, CCSF would have had to pay at least US$32,800 in interest charges, possibly more. Pisey added that lendwithcare funding would still be cheaper for them even had it not received the administrative grant. She added that the greatest advantage of lendwithcare funding is that it provided CCSF with a secure source of funding over a longer period of time, loans from MIVs in contrast are generally for shorter periods of 1-2 years. Furthermore, since loans from lendwithcare are repaid monthly and transfers simply offset against new loans being financed, Pisey mentioned that the exposure to possible currency fluctuations is greatly reduced.

From discussions with lendwithcare’s other MFI partners, they make an effort to ensure that any extra administrative costs are kept to a minimum by integrating lendwithcare duties with other routine operational tasks. For example, our partner in Ecuador, Fundacion de Apoyo Comunitario y Social del Ecuador, requests several loan officers from three branch offices to each collect four borrower profiles every month. The loan officers estimate that lendwithcare adds on average just an extra 1-2 hours to their monthly work burdens – they already visit borrowers to assess the feasibility of their loan application, the only extra work associated with lendwithcare is taking photographs and preparing a narrative for the website.  By dividing extra responsibilities related to lendwithcare between several staff, there is actually only a marginal increase in administrative work.

By Dr Ajaz Ahmed Khan, Microfinance Advisor at CARE International UK

Importance Of Timely Repayment Of Loans For People On Disability!

Disabled people are considered as outsiders in the society because they are unable to contribute much in the development. However, people who discriminate to these people forgot that disability can happen to anyone at any point of time. That is why; DSS provides them financial assistance so they can also run their lives in the smooth manner. But it is very unfortunate that in the worst financial situation of these disabled people no one likes to come forward to offer them needed help. In this present scenario, this situation has started changing a bit as online lenders have started offering loans for people on disability. They allow disabled individuals to perform the activities that make them the part of the society.

These financial services come in different forms so that loan seeker can pick the option that suits his/her situation in the perfect way. With the help of little online research one can simply find the suitable option to meet borrower’s multiple demands such as paying fees, home renovation, buying an important household item and so on. The repayment term and installment amount is totally depends on the borrowers amount and lender’s fees.

The loan repayment duration of loans for people on disability is flexible in nature so that the borrower can bring the monthly payment within their budget. 

Experts always suggest you to select the option that fits in your budget because inability to make payment can create severe problems. It is very important for disable people to make timely payment as it help them to avoid the future problems. Importance of making timely payment can only be judged through knowing the consequences of missed/late payments.

Here the consequences of non payments that help you to know why it is necessary to pay back the loans for people on disability on defined time.

• Heavy Penalties:

One of the main problems related with missed payment is the heavy penalties that bring the unnecessary charges that are not easy to pay especially for the disabled person. Financial institutes charge the particular amount on every delayed payment that increases the overall cost of borrowing. Making payment with low financial benefit is difficult in itself and if it comes with heavy penalties than that will surely ruin the financial future of the individual. So, you must keep in mind that you have to make payment on time to avoid these hefty penalties.

• Legal Proceedings:

In case, the borrower won’t make the payment at all despite of getting warnings from the lender then it will lead them towards the legal proceedings that surely bring multiple other problems. Do keep in mind that the lender has the full right to take the borrower to court if they don’t give back their money. The judgment of the court can bring other difficulties in your life such as tight financial situation, etc. So, try your best to make payment on time.

• Negative Effect On Credit Report:

Importance of on-time payment can be understood through the fact that it can ruin your credit rating for the very long time period. Missed and late payment lowers down the rating and put black marks which will not go easy from the report of disable. These marks restrict you from taking any help from future as you will be considered as a risky borrower. On the other hand, if you make the timely payment your score reach high rating that will be very beneficial in case you need financial help in the future. It helps you to get money at low rate that helps in enjoy lending time.

More detailed information at www.disabilityloans.net/loans-for-people-on-disability-benefits.html