Samrudhi Microfinance Society

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18 Νοε 2013 (πριν από 3 χρόνια και 6 μήνες)

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Fellowship:
Sanju

Kumar

Samrudhi

Microfinance Society

wecareindia.org

Abhinaya
Narayanan
, Sapan Agarwal

Devdatta

Outline


Overview of
Samrudhi

and its Progress


Current Difficulties


Wecareindia.org proposal to overcome those
difficulties


Proposal details


Budget requested


Recommendations

Project Description


Location
: Gulbarga District Karnataka


Area (urban/rural)
: Rural


Primary Focus
: Provide loans to the poor.


Project Type
:
Microfinance Society


Amount
Requested (US$)
:

$2660.00 to
$5720


Purpose
of Funding Request
:
Develop Kiva like
website to support
Samrudhi

Microfinance Society







Vision to Scale the Organization

Progress to Date

Started in 2007, supported for 3 years by Asha


Requirements for Self Sustainability


Need to issue 100
lakh/year
in
loans


Have staff for 150 lakh portfolio and have identified
potential loan recipients


Current portfolio


30 Lakh (22 in 2010 and 14 in 2009)


Syndicate Bank agreed to lend 25
-
50 lakh, but
have not closed yet


Due to Microfinance scandal a couple years ago, banks
slow to lend


Want to raise 25
-
50 lakh through wecareindia.org

Wecareindia.org


http://www.wecareindia.org/Borrowerdetails.
aspx


Why not use Kiva?


Indian banking regulations prevent foreign
investors


Site will only work for Indian citizens


Save on overhead charged by other sites


Investors get 7
-
8% return, borrowers charged
18%

Promotional Methods


a.


Online Promotion:

We would work towards link building/ link
exchange, search engine, forums, article directories, classified,
social networking (face book, twitter, linked in) social bookmarking,
directory submission and email marketing, online competition etc.
We will have few committed volunteer to undertake this activity
without affecting their routine work..


b.


Google Grant/
Adword
:

We already applied for Google
Adword

grant (We have one for Asha
Deepa
). Once it is approved, we will
have more space to optimize our site in the search engine.



c.


Off line promotion:

We plan to have it promoted among
corporate world through presentation, word of mouth etc.


d.


Events & Conference
-
We will showcase and set up stall in the
various events, conferences and promote our site.



Site Visit Conclusions


On the whole, I would rate the work being done by
Samrudhi

as
very good. Their work has put
many women
on the path of better
financial security. They have around 1500 members who
would
become
loan clients as soon as they get the funds to give loans.
They also have plans to expand
their member
base by surveying
new villages. Mr
. Kumar
also told me that he wants to train women
who are
in the dairy business through
Samrudhi

to improve their
processes so that they can expand
their businesses.



I
found Mr
. Kumar
to be an intelligent and receptive person who has
the capability of getting
things done
. Moreover, as he comes from
the north Karnataka region, he has a sound understanding of
the
local
circumstances which has enabled him lead
Samrudhi

successfully till now and to chart out
its future
plans. His
enthusiasm towards his work is praiseworthy. He is also taking care
of the
Asha
Deepa

school of the Blind in
Bidar

and wants to start a
chain of local
centres

that provide
support classes
for Mathematics
and English for school children in Gulbarga
.



I therefore fully support Asha
Stanford’s
support of Mr
. Kumar’s
fellowship and would
recommend further
collaboration.

Payment

Gateway

Setup

Rs
.
40
,
000

Rs
.

40000

(we

negotiated

for

this

and

finalized

for

Net

Banking,

Credit

Card

&

Debit

Card)

Hosting

(VPS)

Rs
.
45
,
000
*

Hosting

in

VPS

environment

Development

Rs
.
35
,
000

We

have

already

paid

Rs
.
35
k

upfront

as

a

token

of

advance

to

developers
.


Total (
INR
)

Rs
.

1
,
20
,
000
.
00



Total

US
$

2660
.
00



Immediate Budget

Payment gateway, Hosting and
SSL

costs reduced and so budget
reduced to $5720

Original Budget

My Recommendations


We Fund $2700 and plan on renewing the fellowship next
year for $3300


Try to get AID Berkeley to fund the rest of the budget


If that fails, we can let
Sanju

Kumar choose between Fellowship
and the rest of this proposal



Reasons not to fund


This is not an education project


Our mission is to catalyze socio
-
economic change with education as
the primary goal


Improving the situation of a family will also improve the children’s
lives


Asha has emergency relief efforts


Progress is too slow


Website show’s
Sanju

Kumar’s dedication to overcoming challenges
with the banks


Site might fail


The reward is successful is far greater than the money we’re risking


Potential to impact
1000’s

of families