|
|
Frequently Asked Questions
Full Credit is for any organisation wanting to operate a microcredit peer-lending programme based on the successful Full Circle model, to support new and developing enterprises with groups otherwise excluded from the enterprise culture.
| Q. |
What is Full Credit? |
| A. |
For £15,000 the Full Credit toolkit allows you to replicate and develop the best practices originating from the Full Circle programme developed by WEETU
Full Credit gives you a complete package of materials, training, support and expertise in establishing a peer lending programme.
Full Credit is not a franchise. We do not claim to be the only way to operate a peer lending programme and you may wish to adapt and develop aspects of the programme to suit your clients and situation. We will work with you to ensure the programme fits your needs.
|
| Q. |
Why microcredit? |
| A. |
Poverty and lack of opportunity saps people’s energies, lowers their confidence and disempowers them. Enterprise is not a cure-all, but for many it can provide the best and only way to improve their situation economically, socially and personally. However many people will not be able to consider setting up a business without support, especially financial support, and yet will be financially excluded from traditional means of finance.
-
76% of Full Circle businesses established in 2001 are still trading today
-
Social capital provides collateral for micro-loans
|
| Q. |
Why peer-lending? |
| A. |
Lack of finance is not the only problem. Isolation, lack of confidence, lack of business knowledge and cultural stereotyping all conspire to stop people maximising their opportunities. Small supportive groups or Lending Circles provide an invaluable support network for the first few years of business. And the social capital engendered by the groups can then be used as collateral for business loans. Peer lending is an ideal framework to support large numbers of micro-entrepreneurs in their first years of business.
-
90.5% of Full Circle graduates ‘feel in control’ of their life compared with just 44.4% before Full Circle training
-
Mutual support overcomes isolation and lack of confidence
-
Group focus develops business
|
|
|
