Par tou-e-Noor
Objective:
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.'
Email: par.tou.e.noor@gmail.com
Change awaited!!
World saw 1990s as one of the developmental decade with theories and remedies emerging for eradication poverty. Interestingly, we South Asians assume that its actually the people of Africa are chronically poor and south Asians or Asian are some what moderately poor. However its not true. We need to look beyound our glass windows to see poverty next door and poverty which is easy to eradicate without any superficial help or grant.
The point of elaborating the above is to set the ground for a crucial question. For those blessed with the stream of wealth, education, good health and progressive future, does poverty in South Asia stand as a phenomenon be left for NGOs, World Bank and United Nations to cater to? Wait for accumulation of such amount of wealth that is enough to form an NGO with flashy furniture, expensive cars, Lots of PR and flash lights? What are the areas where we can actually contribute physically, materially or just exchange of advice which can turn around a family's future?
Little steps to add just like the pleasure of training a baby to walk. The excitement, concentration and pleasures are unmatchable. So is the case of these anonymous contributions.
I do not possess precious treasure,gold or silver. What I have to offer is my sincerity, belief in right of equal opportunity and zeal to share my experience. With this i start off a small project for poverty alleviation named 'Par tou-e-Noor'.
Initially it will cater to two aspects i.e provision of professional advice and provision of small loans. The advice shall be restricted to professional advice for small business and child education. The loans shall be provided for start up business and education. The details shall be shared with the identified beneficiary.
The system of small loans is purely based on mutually agreed upon ratio of payment and installment. No interest shall be charged on late payments however depending on the loan amount, collateral shall be kept for protecting from default.
A small fee shall be charged for extending advice to families who require some professional advice regarding their future decision of business and education.
Later the organisation would extend to provision of loans for housing, child welfare, Health and machinery.
The organisation is initially starting off with a small amount of Rs. 20,000 and the organisation shall start operations from July 01, 2010. The terms and conditions and legal formalities shall be completed accordingly. The name and respective responsibilities of founders are also being finalized in the month of June and duly communicated through this blog.
I welcome contributors, partners and volunteers who would extend their support for advice, funds and / or administrative functionalities. Keeping in view my circle of dear ones and friends I expect that I will be able to pursue the objective for making 'Par tou-e-Noor' a respectable contributor.
Good day!
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