The Women’s Initiative for Self Employment Bank, started in September 2006 decided not to take any loans as funding. The founders of the bank put in their own savings to give loans with an interest rate of only 1 per cent. Today, this bank has 128 account holders who have benefited tremendously and have become financially secure. The bank runs on a no profit-no loss model and has no fancy ATMs or furniture, actually not even a building. Whether it is money to buy a buffalo or to set up a food stall, WISE Bank give loans not more than a few thousand rupees and helps change lives. Read about this initiative here. And also on the new SME blog we discovered.
Filed under: Digital Marketing, Experimental Marketing, Finance
