Micro-credit Program

Due to the growing need for the economic development of the rural women and men, WORD joined in hands with HDFC bank under bulk lending scheme for its micro-credit program for the self help groups. The micro credit helps the group members to start various micro-enterprises to generate considerable income for the family and to spur the rural economy. It has to be noted that WORD has already implemented the micro-credit program with the funding support of ECLOF-India, Chennai. It is to be noted that Mrs. M. Renida Sarala, Director of WORD is presently serving as a board member in ECLOF-India office at Chennai.

The members of the self help groups who have got loans from this micro-credit program have started ready-made stitching units, power loom units, garment units, micro scale foot-mat making units, brick chambers, piggery unit, setting up grocery shops, hand loom units to make silk sarees etc.,

Under this program, Till December 2009, Rs 82,20,000 have been disbursed to 56 groups from HDFC Bank. An amount of Rs 54,14,173 have also been disbursed to 314 members from 76 SHGs with the support from NELINDCO Foundation, Bangalore.