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Micro-Enterprise Loan Scheme
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Financing small projects and micro-enterprises is a primary activity of Grameen Fund. Grameen Fund started this scheme in 1997. Micro enterprises in the rural areas that require working capital as well as fixed capital for its on going small scale operation is financed through this scheme.
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| Eligibility: | |||
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Non-member of Grameen Bank and other N.G.O | ||
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Entrepreneur should be a landowner. | ||
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The enterprise is an on-going operation. | ||
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The entrepreneur is experienced in business and successfully manages marketing of his products. | ||
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Besides his business, the entrepreneur has other assets for emergency support. | ||
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As security, land deed and advance cheque are submitted. | ||
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Preference is given to Bio gas plant holders in addition to these criteria. | ||
| Terms and conditions: | |||
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Size of Laon: Ranges from Tk 50,000 to 500,000 | ||
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Repayment: Between 1 to 3 years | ||
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Rate of Interest: 20% p.a on declining balance. Hence it is seen that effective rate becomes much less than the figure above and is suitable toward the capacity of the clients. | ||
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Monthly Repayment schedule is followed. | ||
| Financial information on the scheme (at brief): | |||
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No of micro enterprise projects financed: 2,108 (up to November 2008) | ||
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Cumulative loan disbursement: Tk 214.09 million (up to November 2008) | ||
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Outstanding as at 30, November 2008: Tk 34.94 million. | ||
| Sectors covered: | |||
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Fishery, poultry, dairy, agro processing, workshop, small business, furniture making, food processing, service, handicrafts etc are the main sectors covered with a view to alleviate poverty. | ||
| Criteria to meet: | |||
| Grameen Fund sees whether the micro enterprises meet most of the following: | |||
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A business that creates value | ||
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Applies local invention/product and process | ||
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Uses indigenous raw materials | ||
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Has a potential for rapid growth | ||
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Enhances skills | ||
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Provides eco-friendly products | ||
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Creates social benefits | ||
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Creates job opportunities |
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