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Borrowing is extremely difficult for poor people. In 2001 SPPD borrowed Rs.10,000 (€172.00 or $256.00) from People Solidarity Association to provide loans to poor women to help them emerge from poverty by starting their own businesses.
Women have borrowed for such varied micro enterprises as:
- Dairy Cattle Breeding ( by purchasing a milch cow for Rs 15,000 - Rs 25,000 (€259 - €431 or $385 - $641)
- Meat goat production ( by purchasing a goat for about Rs 3,000, (€ 52 or $77)
- Roadside Tea stall ( with a minimum initial investment of Rs 15,000 (€259 or $385)
- Sales of fruits, vegetables or flowers (with an initial investment of Rs 2,000 (€34 or $51).
In order to borrow, a woman must first be a member of a Self Help Group (SHG). The Group must prove its financial reliability by saving and book keeping for a period of 3 - 6 months before any member is allowed to borrow from SPPD or any other bank. SPPD, in fact, vouches for the financial reliability of individuals within the community. The individual is dependent on the SHG for a recommendation to borrow. The SHG vouches for the individual based on her history of repayment of a prior internal SHG loan from the Group savings account.
Our records show till 31st March 2009 :
- Number of borrowers recommended to banks: approx 1,800
- Numbers of loans executed by SPPD: 6,020
- On time repayment rate: 99%
- Loan default rate: 0%
SPPD's involvement in Micro Finance has allowed for:
- A reduction of total dependency on male income
- Education of 50% of women in SHGs in banking and savings systems
- Independence for women – starting and running of own business
- Additional family income
- Improved self esteem and self worth within the female community
- A louder voice for women in local body elections (Panchayat)
- Presence of women elected to local government bodies.
- Enhanced power of women in family decision making
Micro-Finance Statistics Table
Micro Finance Profile- Up to 31st March 2009
| Number of SHG’s |
753 |
| Number of Total Members |
9948 |
| Number of Villages |
150 |
| Total population |
200,000 approx |
| Total amount transacted |
Rs14,463,682 (€258,280,$370,000) |
| Beneficiaries since 2001 |
6020 |
| Present Borrowers |
2632 |
| Up to 31st March 2009 Loan Disbursement: |
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- Number of Rated & Loan Eligible Groups = 594
- Number of Loan Purposes = 30
- On time Repayments = 99%
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Loan Outstanding Details : Up to 31.03.2009
| Particulars |
Loan Amount |
Number of Clients |
Total Number of Groups |
|
SPPD |
2,133,390 |
837 |
161 |
| TBF |
353,000 |
101 |
14 |
| HDFC |
6,356,856 |
1383 |
103 |
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| NDFS |
1,000,000 |
250 |
15 |
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| IOB |
9,166,000 |
1950 |
200 |
| Total |
19,009,246 |
4,521 |
493 |
Bank Linkages :
Direct Linkage to Bank Revolving Fund = Rs.11,154,600
149 Self Help Groups vouched by SPPD to Nationalized Banks
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