Direct Social Investor Project ENG

8/7/2019 Direct Social Investor Project ENG

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Direct Social Investor Project

The origins of microcredit might be finding in Bangladesh during the 70s with the establishment of theGrameen Bank thanks to its founder Muhammad Yunus, Nobel Peace Prize in 2006. By lending small

amounts of money to women involved in making bamboo stools in Jobra village, Prof Yunus has shown

to the world how micro loans may effectively tackle poverty.

About India, 65% population has not access to formal banking systems, second-highest number of

unbanked population in the world - about 135 million households - approximately 675 million people.

In this environment, Microcredit is a key financial solution to bridge the gap bringing affordable loans to

the wide part of population extremely poor, disabled or having disadvantaged occupations - helpingpeople to do not become victim of the vicious cycle of the criminal money lending system.

About New Life Microcredit Programme

Since 1994, main aim of New Life Microfinance Department is the empowerment of women and the

health and educational development of children. Thus, main objective of New Life Microcredit

Programme is the empowerment of women and of their family.

Organization is operating in Tamil Nadu, one of the Indian state less developed. The women and their

relatives, without discrimination grounded on caste, creed and religion are active players in various

activities being carried out by New Life. Most of our members are living and working in rural areas, while

members from city in most of cases are living in slums.

The most common economical activities proposed to the members are crop production (rice, banana,

sugar cane, etc.), animal breeding, handcraft work, vegetable seller, vending stand, tailoring, idly &


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snacks sales, service provider, stallholder, laundry service. In special cases these small loans are also

used for one time payments for education or medical purpose.

One of the key elements of the microcredit success is within the self-help groups (SHGs) mechanism.

SHGs comprise in average around 15 women from the poorest castes and tribes. Members save small

amounts of money and help each other in emergency cases. These mechanisms allow a concrete

promotion of the community cohesion and this inter-dependency creates environments that encourage

borrowers to repay the loans promptly.

Currently, efficiency of the programme is clear shown by statistics since the Microcredit sector

repayment rate is around the 98% rate worldwide. This outstanding success in repayment is attributed

to the strong social cohesion prevalent in the developing world where the role in striking poverty

of microcredit is significant.

Social services and changes through microcredit program

24956 are members of Self Help Group assisted to manage their income and have access tocredit facilities

19956 women have benefitted of a loan in microcredit programme framework 12549 women have been trained to take up small enterprises to generate income/additional

income for their families 10773 children got Education Support For 14092 members New Life has provided awareness on social security cover. These members

were reached through the village level meetings conducted amongst 1193 SHGs 65 members relative had free access professional vocational training organized by New Life 1715 members receive Health Care Services


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Indirect benefit

The decision making power of the women has rise Women will be respected by the family members and society Better life condition due to their economic activity Health of the women has been protected and average education level of their children has been

raised More women will be relieved from the clutches of the illegal money lenders It will promote leadership and active participation of women in the politics Promotion of female entrepreneurship

Future Objectives Increase geographical spread of our action Promote the establishment of new SHGs in order to increase number of member and loans

allocated Increase the capacity of the members in SHG concept and credit discipline Facilitate the members to promote income generating activities through the differentiation of

the economic activities proposed Increase average amount of loans provide to our members Increase the expertise to create the appropriate business environment to provide to our

member concrete opportunities to sell their products both in internal and in the external market

Want to become Social Investor?

Loan starts from 5000 INR (approx. 80 Euros). Our Social Investor will be free to choose their interest

rate, starting from the 0 until the maximum of 6%. The payment can be easily made by a bank transfer

from your account to our bank account in your national currency. In order to know the exact amount in

your national currency, before to transfer your investment, you may check this website

http://finance.yahoo.com/currency-converter/ . Additionally, Social Investor is free to choose the

person to finance, for this purpose New Life kindly suggests to look through our Investor Book.

Loan will be pay back to the Social Investor after 12 months. Since our organization is responsible for

your investment and for our members, New Life guarantee the repayment to Social Investor even in the

case loan beneficiary come across difficulties in payment scheme.


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In order to create trust between New Life and the Social Investor, organization will provide information

and photos during the year with the goal to inform and certificate that your investment has been

delivered according with your preferences. In addition, Social Investor is invited to send via email a

picture (personal picture, family picture, logo of your enterprise/organization) that New Life will forward

to the loan beneficiary. As evidence that the investment has been delivered to the appropriate woman,

Social Investor will receive a picture of its investments beneficiary with the picture previously sent by

him/her.

How to become Social Investor?

It is really easy, follow the procedure listed above! New Life will be glad to help you in each of thesesteps.

1. Select from the Investor Book the member that you should like to finance.2. Once that you have select your targets, send an email at [email protected] having as

object SOCIAL INVESTOR. In the mail body you should write (a) your name, address, born dateand residence place, (b) the name of the members that you wish to finance and (c) the interestrate that you want to gain from your investment (from 0 till 6%). In this way you will bookyour investment. We kindly suggest to select more than one preferences, since it may happenthat the member that you wish to help has already been opted by another Social Investor.

3. Wait for New Life confirmation. In reasonable time, we will write back confirming availability forthe selected member/members. We will send a draft of the contract, and we will be glad toprovide any further information about money transfer.

4. Finalize your investment via money transfer to our account and if you wish, send via email anypicture that we will deliver to the investment beneficiary.

5. Once that money has been delivered in our bank account, New Life will send the formal contractwith all the information about the amount received, the interest rate and the date when yourinvestment will be refunded.


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New Lifewww.newlifemfi.org

(Reg.No: 324/1993, Govt of India,Ministry of Home Affairs FCRA Reg No:010140146)

Project Office (MicroFinance Department)

5/2, Kumaran Plaza, Vayalur Main Road,

Kumaran Nagar, Trichirapalli-620017

Tamil Nadu, India

Phone: 0431-5531442

Fax: 0431-2772377

Mail ID: [email protected]

[email protected]

Bank Name ICICI Bank Limited

Branch name Trichy Thillainagar Branch, Tamilnadu

Account Number 613401160557

Name of Account (Cheque to be made in the name of) NEW LIFE

9 digit MICR number 620229004

Current/ savings account Savings Account

SWIFT Code/ Remittance Instructions ICICINBB

IFSC CODE ICIC0006134

Phone 0431-24002311/12/13

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Direct Social Investor Project ENG