Economic Supporting Initiative

Success Trust

As a kick-off initiative, the focus group discussion with 50 would be organized widows and deserted young women hailing from the target villages- Vengaivayal, Eraiyur, Poonkodi, Muthukkadu Colony, Vellanur and Melur of Annavasal Block, Pudukkottai district. They have already identified their viable, locally sourcing resources and raw materials, small business activity and also contributing to build rural economy and food security of the local region such as thatches making, fruits vending, wed grinding of rice and selling Idly and Dosa Flour, Vegetable vending of traditional varieties, Milk value added products and running petty shop fulfilling local needs and wants. They will be given 3 days intensive training on financial literacy and business techniques, accounting and managing these small businesses and how they can focus on justifiable profits and break even in the small social enterprises that these rural women run. Then all the 50 widows and deserted young women will be given revolving fund based financial support as per their proposed income generation activities and as per the budget required for running such business through cheque payments. 50 widows and deserted young womenwill invest the money, launch and run their income generation endeavors regularly. Out of their income, they will repay back to the revolving fund common pool of reserve in easy 10-12 installments with a lowest interest rate of 0.833% (per month) over the financial assistance. That will relieve them from the clutches of moneylenders and the exorbitant rates of interest levied by them currently. Other than that, the widows and deserted young women will have their own forum from which they can avail funds for their income enhancement activities regularly if they completed their repayments and if there are no new widows and deserted young womenin waiting to receive funds from revolving grants etc. The forum of widows and deserted young women’s credit, will sit and review each and every application, process and disburse credit, ensure the regular and prompt repayments by the borrowing widows and deserted young women. SUCCESS Trust will put one official to represent it as a host of the widows and deserted young women credit to ensure continual existence of the widows and deserted young womencredit forum in Annavasal block.