Pentland Brands is supporting Lendwithcare, in an initiative created by CARE, one of the world’s leading aid and development organisations, to help entrepreneurs in emerging markets to establish or expand their businesses through a series of small loans. Pentland headquartered in the UK, owns and invests in, primarily, retail and wholesale businesses.
So far, 81 entrepreneurs have been supported through a total of 31 loans, creating 24 new jobs and supporting owners to grow their businesses for the long-term. The company’s focus is on supporting businesses that align with their own roots in the footwear and apparel industry, many of which repurpose clothes and fabrics to create the products they sell. Businesses the company has supported include the Glorious group, a second-hand clothes outlet in Zambia, as well as artisan clothes makers, shoemakers, tailors, and embroiderers, according to Pentland.Pentland Brands is supporting Lendwithcare, in an initiative created by CARE, one of the world's leading aid and development organisations, to help entrepreneurs in emerging markets to establish or expand their businesses through a series of small loans. Pentland headquartered in the UK, owns and invests in, primarily, retail and wholesale businesses.#
Pentland employee representatives, from across the UK, Europe, Asia, Australia, and the US, select entrepreneurs to support with a loan and, when the loan is repaid, the funding is returned and used to support CARE’s wide-reaching poverty fighting programmes. In response to the challenging environment created by COVID-19, Lendwithcare has been working in new ways to support low-income entrepreneurs, Pentland said in a press release.
“In March 2020, we launched the Small Business Solidarity Fund, which has funded 12 different projects across eight countries, assisting over 18,000 vulnerable people in dealing with the impact of COVID on their lives and livelihoods. Success for us in 2021 will mean building on the already incredible 135,000 loans worth £4.5 million that supported entrepreneurs in 2020. With support from Pentland, we are confident this will be the case,” Tracey Horner, head of Lendwithcare said in a statement
“As a fourth-generation family business, we believe in helping people to grow and succeed and we’re committed to being a positive business that takes-action for people and our planet. We’re really proud that we can play a small part in providing routes out of poverty by collaborating with charities that are already changing lives,” Sara Brennan, positive business director at Pentland Brands said.
Fibre2Fashion News Desk (GK)
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