Micro
Financing
CHANDUMAL MIRANI
ASSISTANCE FUND
(Social
Insurance)
This Fund was establish to support
the livelihood projects chosen by
PBM Family members to undertake for
their income augmentation opportunity.
The fund operates on a Social Micro
Financing model. Loans are provided
after review of the intended livelihood
for family income augmentation.
The first loan is available at PHP3,000
with a 2% per loan interest charge.
Based on the success of the activity
and on adherence to their own chosen
payback schedule, renewal loans are
available with PHP2,000 incremental
each time up to P20,000. The P20,000
level is renewable as long as the
Livelihood Project is producing results.
The Chandumal Mirani Assistance Fund
program is a “Locked-in
account.” All donations to the Fund,
interest, administrative fees, and
repayments revert back to the Fund
entirely. A separate Bank account
is maintained for this program.
Micro
Financing for Family Income Augmentation
Total families participating 92
Total
loans released 165
Total
amount of loans released P989,056
Number
of default payments 0 |
