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Small loans offer big rewards for Aussie women

Small loans offer big rewards for Aussie women

As part of International Women’s Day, charity Good Return is aiming to fully fund 200 women living in poverty in Asia Pacific countries through a campaign called Connecting Women, Building Better Futures.

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We spoke to Melbourne entrepreneur Gabby Cox who explained how supporting the organisation helped her to empower 26 women to start their own business.

If you had an easy opportunity to help someone improve their life would you take it? This is exactly what Melbourne entrepreneur Gabby Cox did. She now says she wouldn’t be where she is today if she hadn’t.

Her opportunity came when she found out about Good Return, a charity that has been established to help women living in poverty in neighbouring Asia Pacific nations by delivering a combination of microfinance and education to establish their own business.

“All of the lives of the women who receive the loans and education are transformed forever,” she said.

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“We can hardly imagine how difficult their lives are on a day-to-day basis so it gives me heartfelt joy to assist them in the risks they are prepared to take to improve their lives, and therefore the lives of those around them.”

Gabby is so passionate about this cause and assisting other woman because she understands what it’s like to be just starting out.

“I would not be where I am today (running a successful business) without the help from those who gave me their love, support and, most importantly, loaned me money to start my business,” Gabby said.

“Before the banks would ever consider giving me a loan, I received microfinance, from my parents.”

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Since offering her very first loan in May 2011 to the program, Gabby has assisted 26 women and their families. She has also written a book,The Book of Giving, which is full of quotes about life, love, family and friendship that are favorites of her family, friends and those who have helped her achieve her business dreams.

“The women who benefit from the sales of the book via Good Return microfinance loans have passion and dreams, and aspire to succeed in their business, just like I do,” she said.

“It’s a way for me to connect with them as they are fellow business women with an entrepreneurial spirit.

“I continue to support this amazingly worthwhile cause because, it takes such a little amount, i.e. maybe only $100, to make a significant and life-altering difference to lives of those less fortunate than ourselves.”

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Gabby, who is the founder of gabbyWears, a wholesale fashion accessories brand, and Karma Kameleon which is a women’s fashion store, believes programs such as Good Return are not just important ? they are essential.

“When I think of how $100 in our purses can be spent without hardly noticing it ? balanced by what an effect a ‘loan’ of the same amount can do via Good Return ? there can only be positives from the growth of such programs in the universe.”

How does it work

During the month of March, Good Return will be running the Connecting Women, Building Better Futures campaign, aimed at encouraging Australians to help impoverished women through their unique way of fighting poverty. They are challenging Australians to fully fund 200 women, by making a small loan from $25 to help less fortunate woman build a business.

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Lenders can choose who they want to help by visiting the Good Return website and reading the stories of the women applying for loans. Once the loans have been repaid, lenders can either choose to get their money back or they can relend again to help another woman.

Related video: It’s International Women’s Day and a good time to take a look at how far we’ve come over the years.

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