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'I gave poor Comrades marathon runners trust-based loans for entry fees'

10 June 2019 7:44 PM
Tags:
The Money Show
Comrades
Bruce Whitfield
Comrades Marathon
Philanthropy
trust
loans
trust-based loans
trust based loans
Stuart Mann
runningmann.co.za
Only one runner didn't pay him back. Bruce Whitfield interviews Stuart Mann, a marathon runner and blogger at runningmann.co.za.
Runners at the Comrades Marathon. Picture: @ComradesRace

Runners rich and poor take part in Comrades each year.

Some of them are unemployed.

At R600 an entry, it’s a prohibitive expense for many.

To make matters worse; entries opened mid-month while lower-income groups typically get paid on the last day of the month.

After seeing anxious posts on social media from runners worried that all 25 000 entries would be gone by payday, “compulsive marathon runner” Stuart Mann had an epiphany:

Why not help a few fellow runners, and do a bit of a social experiment at the same time?

His idea was to provide interest-free, trust-based loans.

Mann would pay an applicant’s entire entry fee, and the runner would then pay him back once she or he had the money.

Responses to his offer came in thick and fast.

He did not harass people for payment but sent only one message with his bank account details.

Only a single runner failed to pay him back.

Click here to read about the experiment on runningmann.co.za, Mann’s blog.

The Money Show’s Bruce Whitfield interviewed Mann.

Listen to the interview in the audio below (and scroll down for quotes from it).

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This article first appeared on 702 : 'I gave poor Comrades marathon runners trust-based loans for entry fees'


10 June 2019 7:44 PM
Tags:
The Money Show
Comrades
Bruce Whitfield
Comrades Marathon
Philanthropy
trust
loans
trust-based loans
trust based loans
Stuart Mann
runningmann.co.za

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