Microcredit Marvels: Empowering Women

Summary

The objective of this program is to empower 50 women start or expand small businesses of their own by providing micro-credit.

Challenge

In a patriarchal society, women are not considered on par with men and they do not have a chance to take decisions in their families. Many studies show that bringing people out of poverty cannot be done through charitable efforts alone. It requires empowering disenfranchised groups to become self-reliant. Lack of resources and education may lead women, in particular, face a range of societal ills that puts them at a distinct disadvantage. For example, alcoholism, low literacy rates, limited employment opportunities, predatory lending and the resulting "debt trap" restrict women from having an expendable income, let alone start small businesses of their own.

Solution

To overcome this issue, Prime Trust initiates this project by providing small grants or loans (free or low interest) to women pursuing small businesses of their own. The awarding of loans and grants will be based on established small businesses or clearly outlined new ideas. Prime Trust already has a fair trade store in Puducherry that sells products that are made by women from our self-help groups. These women have voiced their need for additional funding to expand their businesses.

Long-Term Impact

With the long term implementation of this project, women become self-reliant and self-sustaining. It gives them the financial independence that they rightfully deserve. Additionally, there are added opportunities for employment opened. They are also able to meet other small business owners through our Akshaya store meetings. This ability to form networks with other women gives them access to support systems and safety nets that they otherwise would not have within their own families.

Resources

http://www.primetrust.org
Prime Trust Webpage
Facebook
Twitter

Summary

Empower 50 women start or expand small businesses of their own by providing micro-credit loans or grants.

Challenge

The Indian women face many challenges in their life such as poverty, illiteracy, gender inequality, social evils such as dowry etc., This put them under disadvantaged group. The women also get into the trap of money lenders who suck their blood by charging exorbitant rate of interest. Many studies show that bringing people out of poverty cannot be done through charitable efforts alone. It needs strong effort by the government and non-profit organizations. By providing micro credit, we make them to be more self-reliant.   

Solution

This project aims at providing small grants or loans (free or low interest) to women pursuing small businesses of their own. The awarding of loans and grants will be done based on their established business or to start their own business by interviewing them and to see their business plan. Prime Trust already has a fair trade store in Puducherry that sells products that are made by women from our self-help groups. These women expressed their desire to have additional funding to expand their business.

Long-Term Impact

The objective of this project will be fulfilled when the women have their own business. This project empowers women to become self-reliant and self-sustaining. It gives them the financial independence that they rightfully deserve. The women deserve respect and regard in their families. Violence against women will be slowly eradicated. Additionally, there are added opportunities for employment opened. They are also able to meet other small business owners through our Akshaya store meetings.

Resources

http://www.primetrust.org
Prime Trust Webpage
Facebook
Twitter