Microfinance

VIDYA’s microfinance program provides loans to low income clients who lack access to banking and related services. Loans ranging from $40 to $200 are provided by VIDYA. The service is offered to help secure loans exceeding $200 and to benefit from schemes offered by the government. The program operates in 9 centers and has 1000 members. 14 Self Help Groups (SHGs) have been formed for women to meet, interact, share personal concerns and get financial assistance. Members have not only thrived but also provided employment to other women, the program has expedited repayment of loans and its good credit discipline is 93 per cent. Regular training programs are held by accountants and volunteers for loanees to teach them account keeping as well as planning and expansion of business ventures. With economic empowerment, women realize their self worth and need for education –we have been successful in motivating the loanees to educate their girl child too.

Past experience has prompted the team to foster an increasing link between Microfinance & Skill Training.