Just like a Lendwithcare loan, grants are received in a different currency and we have to address exchange rate fluctuations and bank charges. To cover exchange rate fluctuations between when the grant is first placed on the site and the grant being fully funded and sent abroad, a 10% buffer is added to the grant being sought. The grant amount on the Lendwithcare website includes this 10% buffer.
The unused portion of the 10% grant is refunded to you, the grantor, as it was not required. You won’t receive any further monetary repayments or refunds from your grant after this.
If there was a gain on the exchange rate this will be retained by CARE to help with our operational costs. By managing grants in this way, the grant recipients receive the full grant as it is guarded by you and other Lendwithcare supporters from currency exchange rate fluctuations. These fluctuations could otherwise result in a shortfall in the amount made available to the project.
We're proud to introduce a new way to support low-income families most at risk of climate change through Lendwithcare. Find out more about making a grant today.