The objective of this project is to economically empower 1000 small scale business women with soft loans to scale up their capitals for sustainability and self sufficiency through what we call community banking and loan scheme (cbls). Through this community banking scheme, women are been trained to save well and to properly manage their businesses for sustainability as a livelihood support.
In our individual assessments of rural traders in October-December 2016, we found out that 85% of women been assessed were child marriage victims. After getting forcefully married, they had no option of sustaining themselves but to involve in some small scale businesses. This is to develop themselves and their little children economically, and as livelihood activity with little capital to start up a business. They have little or no knowledge in business and with no savings system in place.
This project will place women into groups, of which 25 women will be placed in each of the groups formed. They will be trained on how to properly manage their businesses. Establishing a reliable and a self managed savings system for them and create an easy access to soft loan facilities. This will help scale up their capitals with a flexible paying back conditions. There will be frequent followups and monitoring of the groups for a sustainable running of their businesses without collapsing.
In ensuring continuity and sustainability of the project, we will make sure that beneficiaries of the soft loan pay back flexibly and with a reasonable interest in order for it to be passed on to other set of beneficiaries of the group. Groups Village Agents have enough knowledge and experience to run the Banking Scheme independently for a long period of time. Members of the groups have more knowledge to manage their businesses well and a better savings system been established for them.