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New Charity Website Promotes Small Business Investment

11 August 2010

To enable people from poor communities around the world to earn an income members of the public are now able to lend money to a specific individual to start a small business, thanks to the launch of a new charity backed website.

Lenders simply log on to the new UK site from leading aid agency CARE International UK and specifically choose an individual to lend to, from as little as £15.

The website enables people with fewer opportunities to develop a sustainable income to send their children to school and feed their families.

“As the microfinance industry becomes more commercial, mainstream and oriented towards profit, there is a real danger of mission drift as microfinance providers focus on less poor clients,” said CARE’s Microfinance Advisor Ajaz Khan.

“In recent years micro finance has become a commercial business as it has become apparent that providing poor people with financial services can be profitable.”

CARE has a history of creating innovative microfinance programmes and last year their economic development schemes helped more than nine million people to gain access to credit, acquire skills to start or expand their business and improve their income.

“Most of the world’s poorest families have no access to financial services – and little hope of lifting themselves out of poverty,” said CARE International UK Chief Executive Geoffrey Dennis.

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