FINANCE PROGRAM
ISO, understands that financial empowerment is a crucial factor in making women independent and self-sufficient. To support this, we offer microfinance and deposit services to women in our community. These services are designed to provide women with access to financial resources and help them start small businesses or invest in their existing ones. Our microfinance and deposit programs offer flexible repayment plans and nominal interest, making it easier for women to manage their finances and grow their businesses. We believe that by empowering women financially, we can help them break the cycle of poverty and achieve their dreams.
MICROFINANCE
As ISO’s recently initiated, its Microfinance Program is aimed at ultra-poor urban and slam women surrounding old Dhaka and nearby areas of Dhaka City in Bangladesh. This program envisions a society where women learn to trust and apply their potential effectively without being constrained by societal limitations.
Since this program started, the Microfinance program now covers in 2 Points of old Dhaka, supporting almost 150 women. Its clients have received monetary, management, and moral support to become entrepreneurs and skilled workers.Members are recognized as legal beneficiaries of our organization. They are trained and equipped with necessary and relevant skills, from learning how to sign their own name to opening an account. They are also comprehensively educated on all aspects of managing a loan.
MICRO INDEPENDENT LOAN
Micro Loan schemes are the primary financial support to our members. All members of the ISO are eligible for this loan, provided they meet the membership criteria and utilize their loans for income-generating activities. A range is allocated for the scheme with repayments made on a weekly basis.
INDEPENDENT SAVINGS SCHEME
Savings is an integral part of the microfinance program, which offers its members a number of savings plans. Members make weekly or monthly deposits with ISO to create a resource base for members to avail in the future.
INDEPENDENT Savings is mandatory for all borrowers of ISO, in order to educate them on the importance of responsibly saving income and ensuring security for the future. My Savings entitles members to save a fixed amount per week with no facilities for withdrawal.
INDEPENDENTHouseholdInvestments is a flexible, voluntary savings plan with weekly deposits. They can choose a fixed amount, adjust their loan installment and withdraw their family savings whenever they choose.
INDEPENDENTDouble the fund is a voluntary savings scheme that gives them the opportunity to double their money in 6 years.
LOAN WAIVER
ISO also grants loan waivers upon the death of a member for her outstanding loan amount, and the registered nominee receives her deposited savings.
