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

 
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