Micro Tyco Challenge

A Community project Edinburgh, United Kingdom

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To change the lives of those in the third world through micro-finance.

They did it!


On 1st Mar 2015 we successfully raised

£1,000

of £1,000 target
with

18 backers

in

26 days


Project owner

New stretch target

All extra money raised will allow us to ensure additional funding of Micro Finance Loans.

Why are we doing this?

To change the lives of those in the third world through micro-finance.

What is microfinance?

Microfinance is a general term to describe financial services to low-income individuals or to those who do not have access to typical banking services. The repayment rate of these loans on a global scale is 98% and most initiatives including this one are run as a charity with the aim of using microfinance to lift those in need out of poverty.

What will your donations give us?

The average microfinance loan is £150. Your donation will allow us to offer microfinance loans to those most in need. The average time to repay a loan is 4 months which means that your donations will get used again and again to give those that desparately need a way out of poverty.

How does it work?

WildHearts (The Charity we're supporting) money is lent to a ‘Trust Group’ of between 15 and 25 women who all know each other and trust each other, typically this is around a £5000 investment per trust group. The first women gets her loan but the second women doesn’t get her loan until the first women has started paying hers back – this means that loan recipient two three and four will help women one get her business up and running because the quicker she starts her loan payments, the quicker they all get started. Typically this will only take a week for a women to get to market, start selling her products and loan recipient two getting her loan. 

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