Micro Tyco Challenge

by mike_x_ross in Edinburgh

We did it
On 1st March 2015 we successfully raised £1,000 with 18 supporters in 26 days

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

by mike_x_ross in Edinburgh

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. 

Rewards

This project offers rewards in return for your donation.

£10 or more

£10 Reward

A personalised card to say thanks for your support.

£20 or more

£20 Reward

We'll bring you a cup cake and a card to say thanks for your support (Standard Life Edinburgh Offices Only)

£30 or more

£30 Reward

We'll bring you a cup of coffee, a cupcake and a card to your desk (Standard Life Edinburgh offices only)

£250 or more

1 of 10 claimed

£250 Reward

A seat at our end of challenge dinner at an undisclosed location to say thanks for all the support you've given.


Got an idea like this?

Our crowd has raised over £70 million for bright ideas and good causes.