SMALL CREDIT SCHEME
The Association's prized project “the Small Credit Scheme”, which was initiated to provide relief and assistance to the Lower income group women who wanted To start micro-enterprises. This scheme aimed at providing them with small loans, on easy monthly repayments, less bureaucratic red-tapism and the facility of guidance and counseling.
This scheme was initiated in July'92 when the Branch received a grant of Rs, 30,000/- from UNDP through the National AB&PW.
This amount was distributed as 6 loans of Rs. 5000/- each with a markup of 7%. The monthly repayment was Rs. 450/- to be paid in 12 installments.
The scheme has been enhanced to the tune of Rs. 3 Lacs through private donations. Till date we have been able to give out a total of 365 loans. The mark up has been increased to 10% and the monthly installment is Rs. 460/-
The loan amount has been increased to Rs. 10.000/- with a monthly installment of Rs. 920/-.
10 loans of Rs. 25,000/- have also been disbursed the loan installment being Rs. 1500/- per month.
