Micro Enterprise Program:
The Micro Enterprise Program was launched in January 2006 to cater to the needs of project/business expansion which demands a higher loan cycle, on realizing that certain members required this service.
The MEP is a slight modification of the Micro Loan Product which has served these borrowers well since its inception.
Criteria
- Bandhan members who have completed at least one loan cycle
- Those who possess capital equivalent to value of loan amount
- Those who are directly involved in income generating project
- Existing micro-enterprise which must generate employment
opportunity for at least one poor person
Features
- The first loan ranges from Rs. 20,000 – Rs. 50,000 with increase of upto
Rs. 10,000 for every subsequent cycle
- A service charge of 12.50% per annum on the loan amount
- These are one year loans and repaid in 45 equal instalments
- Borrowers are entitled to a grace period of 7 weeks
Click on the link to view:
An introduction to Bandhan video
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