Participatory Rural Credit Program

Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history. It is designed not only to support entrepreneurship and alleviate poverty, but also in many cases to empower women and uplift entire communities by adequate support. In many communities (especially third world countries), women lack the highly stable employment histories that traditional lenders (bank, financial institutions etc.) tend to require. Many are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million men and women held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 per cent.

Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983. Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries and is presented as having “enormous potential as a tool for poverty alleviation.”
 

Types of Loan we provide:

1. Agrosor: It is a small enterprise loan like SME. We provide small loans to each borrower upto 10 lacs taka in order to assist other people in need to establish their businesses.
2. Jagoron: It is a basic loan where we provide loan upto taka 70,000 to each borrower in order to  fulfil their financial needs. Most people in the rural area avail this category of loan in hope to develop a financial source of income to better their standard of living.
3. Buniad:  This is a category of loan for the ultra poor. People who are deprived of shelter and basic needs avail this category of loan to purchase essentials for living. We provide loan upto taka 10,000 to each borrower of this category.
4. Sufolon: This is a seasonal loan. Here we provide this category of loan to borrowers who are mostly farmers for the cultivation of seasonal crops , beef fattening , goat rearing , poultry , robi crop storage and more.
5. Income Generating Activities (IGA): this is a loan provided under the enrich program where the borrowers avail this loan who are directly involved in income generating activities in rural areas and who can generate employment for other people in need.
6. Livelihood Restoration Loan (LRL): People who do not a roof over their head , living in starvation and suffering from extreme poverty avail this loan to build a shelter of their own in order to better their standard of living. The rate of interest of this category of loan is extremely minimal to  lend them a hand while they build their own homes.

Enrich Program

This program is designed to eliminate poverty in one union in Noakhali Sadar Upazila under Noakhali district. The following support program is providing to all the people of Charmatua union under Noakhali Sadar Upazila.
Activities under Enrich program are listed below:

• Health program
• Water supply and sanitation
• Beggars Rehabilitation
• Benefits to senior citizens
• Development of Kendra Ghar
• Education programs for children who dropped out of schools