MICRO FINANCE PROGRAMME

Need of Micro Finance Programme

The micro finance programme was started in April 2006. Most of our students are from low income or below poverty line families. Their parents cannot afford to pay the full fees all-together at one time. Hence, the trust gives the students interest-free advances for paying the fees so that they can pursue higher, technical education or professional courses in our own institute. The parents pay back the advance in convenient, monthly installments. As these courses have good job opportunities, students can also repay these advances in installments after getting a job. Students get maximum 50% of the courses fee as an advance. Parent’s income certificate, ration card and living conditions are scrutinized before approving the advance.

Testimonials

I would have dropped out of college if I hadn’t received an interest free advance

I am Kavita Arun Pal. We are four family members living in a single rented room in a slum. I am eldest among three siblings. My father is a mason. He is the sole earning member in the family; he cannot sustain the education of three children. He has Fistula disease and was operated three times. My mother is a housewife. I completed my M.Com in the year 2017-18. I was recipient of Shama well advance for three years. To supplement the family income, my siblings took up jobs. I I used to work in a parlour to support my studies. I am very confident and have set my goals very early in life. After my masters degree I am working in Ranbaxy company in Indore and I am getting good salary package of Rs.48,000 per month.

I and my family members are very thankful to Shama Inc. for fulfilling my dreams.

Thanks to Shama Well I could complete my graduation

I am Sapna Paswan. I did my graduation from Smt.P.N.Doshi Women’s College; I got 65% in my final exams. There are five members in my family. My mother is a housewife. My father is a waiter in a hotel and earns meager income. We are three siblings. As my father is the only earning member in the family he finds it difficult to pay my fees. At that time Shama Well interest free advance of Rs.9000 helped me in pursuing my education.

I was very happy that now I have completed my Bachelor in Accountancy and Finance without burdening my parents. My family was also very happy and grateful.

Thank you Shama Well for making my dream come true

I am Hetvi Gajra. My father is an auto-rickshaw driver and earns a meager income. In my family there are 4 members. I have two siblings I am the eldest. My father also has responsibilities of my grandmother. My mother is a housewife. My grandmother’s medical expenses are a big drain on our family income.

During my college admission my father was not able to pay full fees at a time. Because of Micro Finance scheme I was able to pay the fees and complete my graduation. Now I am working in SPRJK Trust as an office assistant and supporting my family.

How the Scheme Works

1. Students get maximum 50% of the course fee as interest-free advance.
2. The application is strictly scrutinized. The student submits the parents’ income certificate, and a copy of the ration card. The ration card colour verifies the economic status. In some cases, where income certificates are not available, our field workers visit the applicant’s home and verify the need for advance.
3. The students and their parents sign an undertaking to repay the advance either in the very first year in installments if they are from middle class or lower middle class families; or after the students get a job if they are from below poverty line families.
4. There is regular follow-up on the repayment schedule.
5. The repaid loans are then utilized for the next batch of needy students.

How YOU Can Help

1. Donors may sponsor a particular student, who is bright and has the potential to do well in her selected field.
2. Donors may give to the corpus fund of this scheme, from which the students will be selected and aided.

Feedback to Donors

1. Donors will receive the complete profile of the student, her family background, her economic condition and updates on her academic performance as well as the loan repayment, along with a photograph and a letter from the student who is selected under the donor’s sponsorship.
2. Donors will receive a receipt for their contribution with the 80-G certificate for tax benefit.

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