A pilot project initiated for the purpose of granting interest free loans for micro enterprise and providing professional advice regarding education to the bottom billion i.e. the poorest for sustainable livelihoods.
Par tou-e-Noor shall be operation from the month of July i.e. July 11,2010. I will ensure that the success stories are also uploaded from time to time keeping the privacy of families intact. Following are the details of the products being offered as the first step towards the objective of Par tou-e-Noor.
1. Tiny Ray of Light پرتو ريز
Loan limit: Pk Rs.5,000/- to 15,000/-
Period of Loan : 8 months (Max.)
Frequency of repayment : Bi-monthly/ monthly
Profit Margin : As per mutual agreement between two parties i.e. for purpose of covering the transaction cost only.
The Target segment of this product is the poor who have a little skill and are willing to start a tiny business (within/outside) home. The families refusing to accept charity shall be given priority.
2. Light of Trade نور از تجارت
Loan Limit: Pk Rs.20,000/- to 60,000/-
Period of Repayment : negotiable 18 months (max.)
Frequency of repayment : As per cash flow projected but at least once every month
Profit Margin : As per mutual agreement between two parties in order to cover transaction costs.
Target market: The product is particularly for individuals/ family of existing entrepreneurs not having enough cushion to generate working capital for business expansion. The entrepreneurs engaged in micro enterprise and require capital for making themselves sustainable shall be given preference.
Business type: Embroidery, Handy-craft, stitching/sewing, selling clothes, grocery shops, transportation, Beauty parlors, milk/food business.
The purpose of loan features above is not to enslave the beneficiaries to paper work/ time tables rather it is for purpose of documentation and record. The terms and conditions are negotiable to give hope and divert all efforts for a better future as the name Par tou-e-Noor itself means 'Ray of Light'.
As previously requested in my previous blog post, http://zaree.blogspot.com/2010/05/clarification-regarding-par-tou-e-noor.html
I welcome voluntary, professional help through your mind, heart, skill, time and material from all those who believe in 'we must be the change we all wish to see in the world.'