The Nano Finance (NF) program was implemented for the first time in urban areas of the Sambalpur district of the state of Odisha, India on November 9, 2007. Aamara Biswas has helped thousands of women of India by giving interest free loans through the NF program. It is overwhelming and exciting to see the effect this project had on the women. Through the NF program, the women can learn how to help themselves, help each other, and work with trust to assist other women who are in distress. The uniqueness of this program is to have the money that they return be used as loans for other women. The initial amount which was invested to give loans has multiplied to nearly double its value in one year. This clearly justifies the basic premise of “Women helping Women through Nano Finance.”
The women themselves are responsible for the success of the Nano Finance program. Aamara Biswas does not advertise the NF program; instead, it spreads the message through word of mouth and expands to different areas. This concept will not make the women rich but will help them avoid being victims of the money lenders, making them poorer. Furthermore, it gives them a sense of security and comfort in times of emergency. Aamara Biswas gives opportunities to women helping them earn money, providing better lives for their families, and making their dreams come true.
Success Stories
Sabita smiles proudly and tells with confidence, she is not scared of anybody because financially she does not depend on her husband any more. She took a loan of $10 for farming. In the following year, she and a group of women took loans and bought a rice thrashing machine. They rent the machine to others and share the profit. She and another group of women started a tailoring unit by taking loans from Aamara Biswas. Many women like Sabita do multiple small trades with the help of Aamara Biswas.
The four women of one family took interest free loans of $40 ($10 each) for making baskets. They claim, in one year they have savings in the bank, bought necessary items for their home, and able to send their children to school. By taking loans multiple times and expanding their production, the family has savings in the bank.
Sumitra lost everything by taking loans from the money lenders for her emergency needs for buying food for her three children with her alcoholic husband. She tells in teary eyes; “now I can come to Aamara Biswas in time of emergency in stead of going to the money lenders”. Aamara Biswas gives her security and strength.
Suna has expanded her coconut business by taking interest free loans of $50 (10+20+20) in three transactions in two years. With the profit she also has started a small shop in her village. This has enabled her to pay for her son’s education.
Her love for the organization and her unselfish desire to help other women have taught her to be a leader. Previously, she was in extreme poverty after loosing her husband at a very young age with two young children. She claims that Aamara Biswas has not only given her livelihood but strength to take care of her two sons. She tells she will always work for Aamara Biswas and help women.
She tells how she and the women from her village have come out from the four walls of their houses and started earning money through the Nano Finance system. She and her friends are proud to be part of Aamara Biswas
Aamara Biswas has brought wealth to her and her friends. By taking small loans multiple times for agriculture, all the women, including Gita, now have savings in the bank. She tells that since she started bringing money to the family, her husband loves her more. She strongly encourages women to be financially independent to earn respect from their husbands and other family members.
She believes that Aamara Biswas (AB) is her organization. Though she was asked to join politics at the village level, she decided to stay with AB. She thinks working for AB is more challenging and worthwhile than politics.
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