SHARED INTEREST INC
121 West 27th Street Suite 805, New York, NY 10001 www.sharedinterest.org

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Organizations Filed Purposes: The Organization seeks to promote social reconstruction in South Africa and neighboring countries by facilitating access to credit for low-income borrowers through the provision of loan guarantees to mainstream banks and other financial institutions. As these lenders have historically been reluctant to extend credit to a sector of the population they consider un-bankable, the majority of Southern African citizens, absent the guarantees, would continue to be economically marginalized.

To promote the equitable development of post-Apartheid South Africa and neighboring countries by guaranteeing bank loans to low-income borrowers so that they may support their families, build or expand their dwellings or start businesses which in turn generate employment for others in their communities.

During the 2019 tax year, the organization had outstanding as many as 21 agreements guaranteeing commercial loans to small and growing businesses, agricultural enterprises and co-ops, microfinance institutions and low-cost housing organizations in the Southern Africa region. Sixteen of this number supported enterprises in South Africa, our principal focus of activity; the others were in Mozambique, Swaziland and Malawi, three other countries that are part of the Southern African Development Community. The aggregate exposure involved in the guarantees totaled approximately $6,289,227 in the year. Because the credit facilities arranged by Shared Interest were limited to no more than 75% of the loans they backed, the guarantees ultimately unlocked total lending of sums in excess of the stated amount by virtue of the risk-sharing agreed in the contracts between local institutions and the Organization. Additionally, the guarantee program, implemented by means of the proven trans-border mechanism of standby bank letters of credit, continued to give confidence to institutions in Southern Africa other than traditional banks, such as quasi-governmental funding agencies, to put capital at risk in the sphere of small business finance and lending to economically-disenfranchised individuals. Collateralizing the letters of credit, were the US-custodied investments of the Organization, funded by loans and donations by American individuals, family foundations, faith-based institutions, healthcare systems and other investors accepting concessionary financial returns in exchange for the social impact that the Organization helps to create.

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