Microfinance Programs

To rid of poverty, ensure food security & create entrepreneurship through fund creation, enhance production by applying modern technology & high-yielding seeds, introduce demand-driven technology & disseminate market information, and build market linkups; SNF has been implementing the microfinance program since 1991. Mainly two type program has been operated by Micorfinance Program, those are-
1. Savings Program and
2. Credit Program.

Savings Program
Savings brings prosperity to family & acts as a medium of investment and also helps to reduce expenditure. Actually, savings needs for the security of the future of a person or family. There is no alternative but savings to deal with any future uncertain situations. Saving enriches family and national life.
By controlling expenses with the compare of income keeping some money separatly for future use is called savings. Actually, savings is the result of moderation in present for consumption in future.
To create fund and involve with financial activities of poor, disadvantage and poorest rural and in limited extent of urban areas people, SNF has been organizing them and create a tendency to save since 1991. Members are organized with group consisting maximum 30 and they are convening in group meeting at a selected day per week with the chair of group chairman. In group meeting, representative of the organization takes up savings from them with proper document and discuss health consciousness, income generating, importancy of education and national important issues. Afterall SNF has been trying to achieve financial freedom fo poorest to lower middle-class people especially women by conducting savings program.

According to the demand of group members and following the rules of the Microcredit Regulatory Authority (MRA) and Palli Karma-Sahayak Foundation (PKSF), SNF has been implementing 3 types of savings. A total of 49,658 savers have been organized by the organization whose savings balance is 862,277,397.00 taka. The 3 types of savings introduced by SNF are as follows.

Types of Savings-

• Compulsory Saving
• Voluntary Savings
• Long-Term Savings

Objective

 

 

 

 

 

 

Credit Program
Microfinance, whose proponent is Bangladesh has been accepted as a fruitful and more acceptable program in underdeveloped and developing world. It has introduced to the poor enterpreniours for the lack of easy access in the provision of micro loan & banking and banking related services.

Shishu Niloy Foundation has started its microfinance program since 1992 with the aim of keep smooth fund flow in rural economy, creat employment both of self and wage-basis, socio-economic upliftment of poorest to lower middle class people, hunt the innovations and improve the quality through technical and financial assistance and help the producer to qualify in market place, achieving food security by increasing agro-based production by introducing modern technology, high-breed seeds and providing financial assistance etc. From commencement to till now SNF has been contributing in socio-economic improvement of its working 10 districts with financial, technical, informational and other necessary assistance. To cope its targeted people with the changeable world, it has been implementing 16 loan components under microfinance program with easy terms & conditions by employing 484 fulltime and 65 parttime workforce. Information about mentioned components are given below in at a glance.