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Being a federation member makes it possible for Anathas Mary(to left) to receive loans for buying coconut branches which she use for thatch making. Except for during the rainy season this is her main income source. This would not have been possible without the low interest loans she receives through her federation.
Micro Credit project
Many of Kudumbam’s beneficiaries do not own land or any other immovable properties, making it hard for them to access any credits. This compels them to raise loans from private money lenders with high interest rates. Trying to strengthen their financial institutions and loan possibilities, Kudumbam is organizing marginalized and landless farmers, many of them women, into Self Help Groups (SHG).
This work is going on in both operational areas of Kudumbam; the Nagapattinam and Pudukottai districts. In the costal area of Nagapattinam the farmers (mainly women) have organized themselves into federations, in order to receive loans from NABARD (National Bank for Agriculture and Rural Development). With the help from Kudumbam´s field staff in the area, women in many villages
have started “neighbourhood support teams” (NST), each with 5-7 members. Several NSTs then go together and form federations; so far more than 100 NSTs have been formed into 4 federations in the area. Individual members can then apply for small loans, where the rest of the members in the team stand as a guarantee. Therefore it is important that the teams consist of neighbours that know and trust each other. Hundreds of members have already been were granted small loans.
In the Pudukottai district the beneficiaries are organized in SHGs of 10-20 members, and in Joint Liability Groups consisting of only 5 members. At the moment the groups are forming five microcredit federations, and the loans are given by Microgram. Kudumbam has also facilitated micro loans from different national banks.
The aim of our Micro Credit Program is to facilitate a process of enhancing the capacities of groups and federation leaders in an effort to strengthen people’s financial institutions.
Thanks to her involvement in the SHG, Jancyrani got the opportunity to send her child to school.
Valermadhi used her credit to start a goat dairy.
Learn more details about the project here:
The roof on Radha’s small restaurant was destroyed during the monsoon. Through her federation she could receive a loan and afford the reparation charges.
no: 113/118 Sundarraj Nagar
Tamil Nadu, India
Phone: (+91) 0431-2331879
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