Microcredit Marvels: Empowering Women

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