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Angel
Fund – Wahine Putea (Christchurch) is a women’s small loan fund that lends
small amounts (typically up to $500) to women in the Christchurch and Canterbury
area who are on a low income and have difficulty accessing credit from
traditional sources.
Loans are for:
*Small/home
business start up costs
*Training
courses, seminars and further education
*Transition
to work expenses.
Angel Fund
also offers members some business support, newsletters,
opportunities to meet with other borrowers and a savings
scheme.
In 2007 we
extended the savings scheme so that Angel savers can apply for small personal
loans (up to $200). |
Angel Fund - Wahine Putea aims to
create opportunities which enable women on low incomes to work towards
financial independence. The loan fund is administered by a co-ordinator,
Koa Saxby. Loan decisions are made by the committee. Current committee
members are: Lynne Prattley, Adrienne Carmichael, and Mary Miller.
Since the first loan in 1995 until
March 2008, over $125,000 has been to 300 women. In recent time about 80%
of the loans are for business, 15% for education and 5% for transition
to work expenses.
The Christchurch Angel Fund started
in 1995 and was modeled on the Wellington Women’s Loan Fund, which began
operating in 1992. A group of Christchurch women from enterprise
agencies, community groups, City Council, and interested individuals
met to discuss setting up a Fund similar to the Wellington one. |
click on cropped images below
to see full picture
above:Kiri
Coordinater & committee
members pictured with
Gwenyth Wright, founding Angel
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The group knew that many low income
women did not have access to credit for small loans which would allow them
to move towards economic independence. They also knew that
women’s incomes are generally lower than men’s, that the incomes
of Maori are lower than those of non-Maori and that women are over-represented
in lower income groups.
The description “Angels”
was borrowed from Broadway where, when a Show was about to close because
money was needed, the person who provided finance became known as
an “Angel”. Hence, women who lend money to “on-lend” are referred
to as “Angels”.
The Angel Fund gratefully acknowledges
the support of:
The
Canterbury Community Trust, Community
Organisation Grants Scheme, Lion
Foundation, The United Way,
Dove Charitable Trust (who supported development of this web site), Pub
Charity, J & M Ferrier Trust and all our donating,
lending and saving Angels.
PO Box 4232
Christchurch / Otautahi
Ph: 366 9978
Fax: 366 9971
Email:
info@angelfund.org.nz |
