While working amongst the poorest people, we realized that the main requirement of these people is access to institutional funds, apart from the lack of awareness of their rights. Some People do have the basic skills to carry on their daily chores, but they always remain short of funds. Whatever these people earn as daily wage earners/vegetable sellers and other small activities, is spent on daily consumption needs. Shortage of funds and ever increasing demand for consumption and productive purpose, has pushed them to the lap of professional money lender’s, who charge exorbitant interest rates, making it almost impossible for a poor person to come out of the debt- trap. It was basically for this reason that BSS started Livelihood Finance operations among its beneficiaries in February 2010 in the far of villages in Uttarakhand.We are proud to say that we have expanded greatly on this service and shall continue to do so.
Microfinance & Livelihood
- For working capital requirement.
- Starting a small business
- Customers opting for partial finance to purchase livestock.
- Size of the loan varies between Rs.6,000 & Rs.15,000.
- Cumulative disbursement is Rs. 210 Lakh, up-till March 31, 2014.
- For purchasing capital assets or working capital to run business smoothly.
- Individual loan.
- Size of the loan varies between Rs.15,000 & Rs.50,000 in the first loan cycle.
- Credit limit may be increased till Rs. 50,000 depending upon the growth of the business & repayment history of the customer.
Ashok Kumar (28yrs) of Mohanpur village Patna (Bihar) was running a small shop in village which could not even earn its rent. His wife Babita took a Micro-enterprises loan of Rs. 30,000 in 2011 and again in 2013 . Stuffing more items in the shop helped them in higher sales income. They now earn about 7000- 8000 a month and live comfortably.