Our first 5 micro-loans with Lend With Care

As a business, we are always thinking about the ways in which we can improve the lives of others. It is not enough for businesses to exist to simply make profit. They must contribute to a better society. Although we are still a small company, we never underestimate the power of small actions to drive change. 

We are pleased to announce the launch of the Five Dot Botanics’ Social Impact Fund which is designed to make micro loans to women around the world to help them run their own businesses. 

As of February 2022, we have contributed to the micro financing of 5 small businesses across the world. Here are the details of how our micro-loans will support these women.

Favour 0501 Group's Small-Scale Businesses

Favour 0501 group is a membership of 5 women age between 26 and 48 years old. The women are running various small-scale businesses and all have excellent business skills and have excelled in their grocery and cosmetic shops for 20 years. The women in this group are married and some are widowed. The group have a total of 42 children and orphans who they look after.

Their husbands are either working or helping their wives run their businesses. The group seeks their second loan to boost their businesses to greater heights.

Margret is 49 years old and she is the focused member of this group. Margret is married and her husband is an entrepreneur. Together the couple has five children and took into the family two of her nieces who are her (late sister’s children). Margret has successfully been running her grocery shop for the past twenty years consistently. Her business has excelled because Margret is very diligent and she is highly disciplined in the management of her funds. Margret is grateful for the loans she has previously accessed because she is now more self-reliant and can contribute to her families’ development extensively.

The Microloan Foundation in Zambia lend to female entrepreneurs using the ‘centre’ model. A centre is typically made up of 3-4 sub-groups and these sub-groups almost always have five members. Each centre has its own name and the sub-groups within the centre share the same name. Each person within the group of five women is responsible for repaying her loan but the members support each other and if a member is unable to repay her loan on time, then the group assumes responsibility for repayment. Loan officers provide training to the groups, although it is expected that centre leaders will eventually assume responsibility for providing some of the basic training.

Learn more here. 

 

Lama's Hairdressing and Beauty Salon

Lama lives with her family in Gaza.

Lama established her hairdressing and beauty salon about 3 years ago. The premises measure around 50 square metres and among the services she offers are haircuts and styling, make-up and skin care. Lama employs a person to help and has built up a very good reputation for the quality of her work. She wants to expand the salon so that she can offer a better service and also attract new customers. She requested a loan to buy new supplies and pay for decorating. This includes buying two new salon chairs, painting materials and decorations. The rest of the loan is to bulk buy the supplies she uses including cosmetics, shampoos and colouring. 

Learn more here. 

 

Ruby's Fishmonger Business

Ruby is 53 years old fishmonger. She is married with six children. Living with her now are her four children and one of them attends high school while the other three are looking for work. Ruby lives with her family in Cebu province.

Ruby has been engaged in selling fish and other sea products in the town's public market for many years. Her income generated from her income definitely helps the couple to cover financial needs for their children and sending them to school.

Recently, Ruby decided to seek her second loan from our local partner MFI-Lamac and promise to repay in 12 months' time. She will use the loan to have enough cash on hand to buy volumes of fishes needed for her everyday selling. Every day she buys, on average, 5 boxes or more depending on the number of kilos left a day before. Her products are being bought from the island of Bantayan and fish port areas of the nearest town. With the increase of capital to invest in buying her daily stocks to sell, Ruby hopes to increase her daily profits.

Learn more here.

 

Mwaiseni 0603 Group

In the beautiful town of Mazabuka, there is a group of four business minded women who make up the Mwaiseni 0603 group. The small businesses they are running are grocery and mobile money to sustain their livelihood. The women in the group are between the ages of thirty-four and fifty years and they have a total of forty-three dependents. Majority of whom go to school while a few works in these same enterprises as their mothers. Most members of the group are married.

Nillah is a single mother with two children that she is raising on her own, both of whom are in school and are of good health. Nillah is thirty-four years old and she is a committed member of the group. Since 2018 she has been running a grocery shop that has grown. With her profits, Nillah is able to take care of her aging mother, two children and support a lot of her family members remotely. From her previous loans, Nillah has been able to build her shop and buy all commodities that she sells.

Learn more here.

 

Marilou's Salon Business

Marilou is 42 years old and has four children from her previous marriage. She has two more children with her partner Roger. Five of her children still live with them and the three children attend local school while the other two are still toddlers. For many years, Marilou had been earning an income by working in a beauty salon. 

Five months ago, Marilou and Roger were able to open their own salon business. They have rented space and are now working together to operate their own salon and employ one full-time worker. Marilou also hires manicurists to help them and they also earn commission based. Aside from walk-in customers, they also promote their services on their social media accounts. 

Recently, Marilou requested her fourth loan from our local partner MFI-Lamac. She has been a member for almost a year now. She will use the loan to finance in buying quality hair medicines, shampoos, nail polish colours, and other supplies needed in the salon. Marilou also buys well-known beauty products and displays them in the salon to sell to their daily customers. 

Learn more here.

 

You can learn more about Lend With Care, how microfinance works, and even fund your first micro-loan, from just £15, here. 

February 16, 2022 — Five Dot