Rotary club lends thousands of pounds to entrepreneurs across raft of underdeveloped countries over 10 year period

It has been a little over 10 years since the Rotary Club of Stowmarket Gipping Valley started their LendwithCare project with a small starting amount of £495. 

From the start, the project  has been run by club president Guy Wiltshear (pictured above) who has been responsible for liaising with LendwithCare  to arrange loans.

They lend  to entrepreneurs to start their own businesses in various developing countries throughout the world.

The entrepreneurs receive 100 per cent of the loans which are made. The loans now total 461.

This also benefits the families of the 2,575 entrepreneurs helped so far, particularly enabling them to pay for the education and welfare needs of their children. 

Because they have to repay the money they have borrowed, this also gives them the dignity they richly deserve. 

The default rate is very low. The Rotary club has topped up the starting amount over the years to £2,707, but because the loans are recycled after being repaid this amount has benefited new entrepreneurs to the a total amount lent of £12,831.

Currently the club is lending to people in the following countries: Ecuador, Peru, Malawi, Pakistan, Philippines, Rwanda, Zambia and Vietnam.

There are many types of business entrepreneurs helped and these include farming, fishing, retail and manufacturing … even including the construction of a solar well in Pakistan.

The Rotary Club of Stowmarket Gipping Valley is part of a regional lending team of 71 other Rotary Clubs who are members of Rotary District 1080. 

This team has lent £481,670 since starting in 2012 making it third overall in terms of money lent to LendwithCare entrepreneurs in the whole of the UK.

The club meets every other Thursday usually at the Limes Hotel in Needham Market, but sometimes by Zoom. 

If you would like further information contact Richard Tingey at richard@tingeys.co.uk