Project information

Frederick's Foundation Women's Loan Fund

The Women’s Loan Fund was created to empower women to turn their ideas into reality and unlock new opportunities for creating a better life for themselves, their families and ultimately, their communities.

January 2019 - December 2019

Charity information: Fredericks Foundation

Fredericks Foundation logo
  • Need

    Need

    Women bear the burden of poverty in the UK, 92% of all single parent families are headed by the mum. For many, benefits make up their only income - self employment is often the only solution to financial independence but accessing credit to start their own business is understandably difficult due to banks reluctance to lend to more marginal clients. Only 1 in 5 UK businesses are owned by a woman. Everyone deserves to work in a way that provides for their family and provides personal well being.

    Solution

    Providing microfinance to the marginalised with strong business plans or existing businesses, helping not only them, but others in to employment.
    Moreover, women often have responsibilities that make traditional employment difficult, especially if under zero-hours contracts. Many women are also carers for elderly, sick or disabled family members. Our loan fund and business mentoring will enable women to start their own business and become financially independent.

  • Aims

    Aim 1

    To alleviate poverty through work, while improving people's confidence and self-esteem.


    Activities

    » Frederick's provides affordable loans to emerging entrepreneurs turned down by the banks.
    » Client Managers and mentors work closely with clients to make sure their businesses are successful.

    What success will look like

    We have a social impact tracking tool that enables us to see socio economic growth for individuals in a quan way (The number of jobs created etc) and qual manner (how do you feel)


    Aim 2

    To target single mums, migrant communities & ethnic minorities, women with disabilities and NEETS


    Activities

    » Use Facebook lookalike advertising to reach harder to reach communities and individuals
    » Use referral partners (other charities working with these communities & advisory agencies) to make contact with people looking for help and support.

    What success will look like

    We will track the numbers of applicants and successful beneficiaries that we are reaching through our own stats and those of facebook and partners plus self cert.


    Aim 3

    Grow the revolving fund


    Activities

    » Manage the fund so that the funds raised do not disappear but continue to grow under good management so we can help increasing numbers of people.

    What success will look like

    We will manage our loan book appropriately and show growth from both fundraising, protecting the fund and of course repayments.


  • Impact

    Impact

    For individuals we will measure the change in their socio-economic status and their personal wellbeing through self declaration (questionnaires) and through our volunteer mentors feedback.
    We are also conscious that even when the proposed business does not succeed, we help people through our system of hand up, not hand out and we track a positive number of people entering employment using the skills and new found confidence achieved.

    Risk

    The main risk is the people will not pay back the loans. Fredericks conducts a thorough application and interview process to make sure that potential clients have a good business plan and understand the difficulties of starting their own business. Client Managers and mentors work closely with the clients to make sure they have support in the formative years of the business. If someone defaults on the loan, we make every responsible attempt to collect.

    Reporting

    Funders will receive a quarterly email report highlighting success stories, making them aware of any program changes and alerting them to any problems that might have been encountered. Funders will, where suitable, be invited to sit on lending panels and act as mentors when appropriate

  • Budget

    Budget - Project Cost: £25,000

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      Amount Heading Description
      £20,000 Womens Loan Fund Providing capital for lending to women wanting to start their own business
      £5,000 Dedicated client support Providing dedicated support for women in business planning and providing ongoing mentoring.
  • Background

    Location

    We focus all of our work in deprivation postcodes within England and Wales or aimed at certain socio-economic status. This is but not restricted to single parent families, migrant women or ethnic minority groups, women with disabilities and those not in employment, education or training.

    Beneficiaries

    We have set ourselves soft targets of
    20% of our loans to single mothers.
    40% of our loans to women from migrant communities & ethnic minorities.
    10% of our loans to women with disabilities.
    30% to women not in education, employment or training
    We expect that the majority 80%+ of our loans will be to people living in deprivation postcodes or where the majority of the household income comes from state benefits.

  • Why Us?

    Why Us?

    We are the largest microfinance charity in the UK. With 17 years experience enabling us to be the most cost effective charity in this sector. Our staff and volunteers combined bring a huge wealth of knowledge and experience in this sector allowing us to offer the most comprehensive advice, support and mentoring to our clients, giving them each a truly life changing experience, leaving them with a much higher self esteem.

    Read more about the Charity running this project.

    People

    Duncan Parker

    Chief Executive Officer. Has ultimate responsibility for beneficiary selection and management of loan fund and fundraising therein.

"Fredericks Foundation helped me get over my initial difficulties by believing in my dreams”

Tokunbo Koiki - Tokunbo's Kitchen