Does a normal Lending through Bank or Micro Finance Institute (MFI) help poor?
Vikas Vadodara
Does a normal Lending
through Bank or Micro Finance Institute (MFI) help poor?
Let’s understand the interest level of
Lending Agencies - Guarantee & Return of Principal and Interest
Loan Recipient - Justify the immediate need of funds
Now if the need of poor is for livelihood, which is believed to take care of all the other needs, if taken in appropriate way.
With Finance if the resources like Consoling, Advice, Raw Material out Sourcing, Process, Controlling of Wastage / Expenses, Creating Market etc are provided which looks into the capacity building of the Loan Recipient which in turn raises his income. Once anyone learns to earn enough than he can very well plan his present and future, with a small guidance. We were very confident on this idea and tried it out with our beneficiaries and have received very encouraging result, proving our strategy right. However to make this work, mental blocks needs to be removed which we could do it with counseling (no of sittings)
A live example is one of our beneficiary who was driving an auto rickshaw on rent since last 10 years, came in contact with us 2 years back and we supported him in owing his own auto rickshaw. With our approach he did well and cleared his loan and is now planning to buy a 2nd rickshaw. Isn’t it an empowerment? Interest Free Financing with overall support empowered him to do well and think big.
The second case is of our beneficiary who came to us with an offer of donating a small sum every month till he is alive. The amount he wishes to donate is surplus and wishes to join us in the noble cause. Isn’t this thought of contributing back to the society from the under privilege person who thought he is TAKER transforming to GIVER an empowerment? Yes it is.
We wish to carry out this idea and empower the under privileged citizens so they become self sustain, built capacity and also enjoy the good standard of living. If you carry similar thoughts than join me on this drive. Call me on +919824063400 or +912656553344 and let’s plan how you could make a difference in someone’s life. There is no big gift then empowering someone for life, with one deed.
Join me in this drive. Our Micro Finance Welfare Project aims at the same concept. Call or meet us to make a difference. Attached please find the concept note on the same.
With Warm Regards
Zoher Doctor / Vikas Trust
Founder & Managing Trustee
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